Sargent Investment Group LLC Acquires New Shares in Cummins Inc. (NYSE:CMI)

Sargent Investment Group LLC acquired a new stake in Cummins Inc. (NYSE:CMI) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 829 shares of the company’s stock, valued at approximately $299,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Global Trust Asset Management LLC raised its stake in Cummins by 59.6% during the 4th 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 during the last quarter. KG&L Capital Management LLC raised its stake in Cummins by 0.8% during the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after buying an additional 28 shares during the last quarter. Chicago Capital LLC raised its stake in Cummins by 0.9% during the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after buying an additional 30 shares during the last quarter. Equitable Trust Co. raised its stake in Cummins by 3.6% during the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after buying an additional 32 shares during the last quarter. Finally, Mayflower Financial Advisors LLC raised its stake in Cummins by 2.0% during the 4th quarter. Mayflower Financial Advisors LLC now owns 1,631 shares of the company’s stock valued at $568,000 after buying an additional 32 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Stock Up 1.8 %

NYSE CMI opened at $370.03 on Thursday. The stock’s 50 day moving average is $361.94 and its 200 day moving average is $334.73. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 12 month low of $236.00 and a 12 month high of $387.90. The stock has a market cap of $50.76 billion, a PE ratio of 24.44, a P/E/G ratio of 1.64 and a beta of 1.00.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same period in the previous year, the firm earned $4.14 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. Research analysts predict that Cummins Inc. will post 20.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total value of $784,065.87. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,540,879.47. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold a total of 6,490 shares of company stock valued at $2,357,880 in the last quarter. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Robert W. Baird upped their price objective on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday. The Goldman Sachs Group lifted their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Citigroup decreased their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research note on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $383.08.

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.