Eukles Asset Management Trims Holdings in Cummins Inc. (NYSE:CMI)

Eukles Asset Management lessened its stake in Cummins Inc. (NYSE:CMI) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,812 shares of the company’s stock after selling 472 shares during the period. Cummins comprises about 1.6% of Eukles Asset Management’s investment portfolio, making the stock its 19th largest position. Eukles Asset Management’s holdings in Cummins were worth $3,769,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Soltis Investment Advisors LLC raised its stake in shares of Cummins by 7.4% in the 4th quarter. Soltis Investment Advisors LLC now owns 666 shares of the company’s stock valued at $232,000 after purchasing an additional 46 shares in the last quarter. Savant Capital LLC increased its holdings in Cummins by 2.8% in the fourth quarter. Savant Capital LLC now owns 12,910 shares of the company’s stock valued at $4,501,000 after buying an additional 349 shares during the last quarter. Angeles Wealth Management LLC lifted its holdings in Cummins by 115.8% during the 4th quarter. Angeles Wealth Management LLC now owns 2,238 shares of the company’s stock worth $780,000 after buying an additional 1,201 shares during the last quarter. HTLF Bank bought a new position in Cummins during the 4th quarter worth approximately $200,000. Finally, Compass Financial Services Inc acquired a new position in shares of Cummins in the 4th quarter worth approximately $27,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Price Performance

NYSE CMI opened at $372.12 on Monday. Cummins Inc. has a fifty-two week low of $247.53 and a fifty-two week high of $387.90. The stock’s 50-day moving average is $361.82 and its two-hundred day moving average is $336.13. The firm has a market cap of $51.05 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79.

Cummins (NYSE:CMI) last posted 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. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter 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. On average, analysts anticipate that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 4,327 shares of company stock worth $1,582,821 over the last three months. Company insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CMI shares. Barclays raised their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Jefferies Financial Group boosted their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. The Goldman Sachs Group raised their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised 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 report on Monday, December 9th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.