Foster & Motley Inc. Cuts Stake in Cummins Inc. (NYSE:CMI)

Foster & Motley Inc. lessened its stake in Cummins Inc. (NYSE:CMI) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,281 shares of the company’s stock after selling 1,174 shares during the quarter. Foster & Motley Inc.’s holdings in Cummins were worth $9,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Global Trust Asset Management LLC raised its holdings in Cummins by 59.6% in 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 during the last quarter. Prospera Private Wealth LLC purchased a new position in Cummins in the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new position in Cummins in the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new position in Cummins in the 3rd quarter valued at approximately $55,000. Finally, Friedenthal Financial bought a new stake in shares of Cummins in the 4th quarter worth $55,000. Institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction on 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 in the company, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 6,490 shares of company stock worth $2,357,880 over the last three months. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and upped their price target for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and upped their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Finally, Robert W. Baird boosted their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $374.25.

Cummins Price Performance

Shares of Cummins stock opened at $354.31 on Thursday. The stock’s fifty day moving average is $363.40 and its 200 day moving average is $332.55. Cummins Inc. has a one year low of $236.00 and a one year high of $387.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The stock has a market cap of $48.60 billion, a P/E ratio of 23.40, a P/E/G ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last posted 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 firm had revenue of $8.46 billion for 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 business’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.73 EPS. Sell-side analysts anticipate that Cummins Inc. will post 21.92 earnings per share for the current year.

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.