Cummins Inc. (NYSE:CMI) Shares Sold by Tectonic Advisors LLC

Tectonic Advisors LLC trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,055 shares of the company’s stock after selling 149 shares during the period. Tectonic Advisors LLC’s holdings in Cummins were worth $1,065,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CMI. Global Trust Asset Management LLC raised its holdings in shares of Cummins by 59.6% in 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 period. Prospera Private Wealth LLC acquired a new position in Cummins in the 3rd quarter valued at about $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in Cummins during the third quarter worth about $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cummins during the third quarter worth about $55,000. Finally, Friedenthal Financial purchased a new position in shares of Cummins in the fourth quarter valued at approximately $55,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMI has been the topic of several recent research reports. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. 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 report on Wednesday, November 6th. Robert W. Baird upped their price target on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Citigroup decreased their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and an average target price of $383.08.

Cummins Price Performance

CMI stock opened at $370.03 on Thursday. The business has a 50 day moving average price of $361.94 and a 200 day moving average price of $334.73. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The stock has a market cap of $50.76 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.64 and a beta of 1.00. Cummins Inc. has a fifty-two week low of $236.00 and a fifty-two week high of $387.90.

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

Insider Activity at Cummins

In other news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 6,490 shares of company stock valued at $2,357,880 over the last ninety days. Insiders own 0.56% of the company’s stock.

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.