Cummins Inc. (NYSE:CMI) Shares Sold by PFG Investments LLC

PFG Investments LLC cut its position in Cummins Inc. (NYSE:CMI) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,204 shares of the company’s stock after selling 34 shares during the period. PFG Investments LLC’s holdings in Cummins were worth $768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Global Trust Asset Management LLC lifted its position in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Cummins during the third quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new position in Cummins during the third quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new position in Cummins during the third quarter worth approximately $55,000. Finally, Friedenthal Financial purchased a new position in Cummins during the fourth quarter worth approximately $55,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,678,803.36. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 6,489 shares of company stock valued at $2,357,531 in the last three months. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CMI. Truist Financial lifted their price objective on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Citigroup reduced their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group lifted their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, 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 report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $374.25.

Cummins Trading Up 0.5 %

Shares of NYSE CMI opened at $350.59 on Wednesday. Cummins Inc. has a twelve month low of $236.00 and a twelve month high of $387.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $363.62 and a 200-day simple moving average of $332.09. The stock has a market capitalization of $48.09 billion, a PE ratio of 23.16, a PEG ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the previous year, the firm posted $4.73 EPS. Cummins’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts forecast that Cummins Inc. will post 21.92 earnings per share for the current year.

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.