Cummins Inc. (NYSE:CMI) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 20.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,570 shares of the company’s stock after selling 2,745 shares during the quarter. Cullinan Associates Inc.’s holdings in Cummins were worth $3,685,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CMI. Global Trust Asset Management LLC raised its stake in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Cummins during the third quarter worth $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Cummins in the third quarter worth $34,000. Ashton Thomas Securities LLC bought a new stake in Cummins during the third quarter valued at $55,000. Finally, Friedenthal Financial bought a new position in Cummins in the fourth quarter worth about $55,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Price Performance

Cummins stock opened at $348.16 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins Inc. has a one year low of $236.00 and a one year high of $387.90. The stock’s 50 day moving average is $362.75 and its 200 day moving average is $333.86. The firm has a market cap of $47.76 billion, a P/E ratio of 23.00, a P/E/G ratio of 1.64 and a beta of 1.00.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate 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 net margin of 6.13% and a return on equity of 26.86%. Cummins’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $4.73 earnings per share. As a group, research analysts expect that Cummins Inc. will post 20.62 EPS for the current year.

Insider Buying and Selling

In other news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This represents a 9.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 6,490 shares of company stock valued at $2,357,880 over the last 90 days. Company insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CMI. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a report on Wednesday, November 6th. The Goldman Sachs Group increased their price objective on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Robert W. Baird lifted their target price on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Citigroup decreased their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group lifted their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and an average price target of $374.25.

Cummins 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.