Cummins Inc. (NYSE:CMI) Shares Purchased by Simon Quick Advisors LLC

Simon Quick Advisors LLC raised its position in Cummins Inc. (NYSE:CMI) by 12.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 958 shares of the company’s stock after acquiring an additional 106 shares during the quarter. Simon Quick Advisors LLC’s holdings in Cummins were worth $334,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CMI. Chicago Capital LLC grew its holdings in shares of Cummins by 0.9% in the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after purchasing an additional 30 shares in the last quarter. Equitable Trust Co. increased its position in shares of Cummins by 3.6% during the third quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after acquiring an additional 32 shares during the period. EP Wealth Advisors LLC raised its stake in shares of Cummins by 1.9% in the second quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock valued at $520,000 after acquiring an additional 35 shares in the last quarter. Bangor Savings Bank boosted its holdings in Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after purchasing an additional 35 shares during the period. Finally, Graypoint LLC grew its stake in Cummins by 2.0% during the 4th quarter. Graypoint LLC now owns 1,874 shares of the company’s stock worth $653,000 after purchasing an additional 36 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 6,489 shares of company stock valued at $2,357,531. Insiders own 0.56% of the company’s stock.

Cummins Stock Up 0.9 %

Cummins stock opened at $369.32 on Friday. The company has a market capitalization of $50.66 billion, a P/E ratio of 24.39, a PEG ratio of 1.69 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. Cummins Inc. has a fifty-two week low of $234.49 and a fifty-two week high of $387.90. The stock has a 50-day simple moving average of $363.72 and a 200-day simple moving average of $329.82.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.73 earnings per share. Equities research analysts expect that Cummins Inc. will post 21.92 earnings per share for the current year.

Analyst Ratings Changes

CMI has been the topic of a number of analyst reports. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and raised their target price for the company from $355.00 to $420.00 in a report on Monday, December 9th. Citigroup lowered their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a research note on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $374.25.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.