Wilmington Savings Fund Society FSB Purchases 1,390 Shares of Cummins Inc. (NYSE:CMI)

Wilmington Savings Fund Society FSB boosted its position in shares of Cummins Inc. (NYSE:CMI) by 27.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,380 shares of the company’s stock after buying an additional 1,390 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Cummins were worth $2,224,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CMI. PFG Investments LLC raised its stake in Cummins by 27.7% during the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after purchasing an additional 485 shares in the last quarter. Mariner Investment Group LLC purchased a new stake in shares of Cummins during the 4th quarter valued at about $1,046,000. CWM LLC lifted its holdings in shares of Cummins by 17.4% in the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after acquiring an additional 1,786 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new position in Cummins in the third quarter worth about $748,000. Finally, Franklin Resources Inc. increased its stake in Cummins by 74.2% during the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after acquiring an additional 99,464 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group raised their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. The Goldman Sachs Group raised their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research report on Wednesday, November 6th. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and upped their price target for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Cummins presently has a consensus rating of “Hold” and an average price target of $383.08.

Cummins Stock Performance

Cummins stock opened at $372.12 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 1.31. The company has a market capitalization of $51.05 billion, a PE ratio of 13.21, a P/E/G ratio of 2.10 and a beta of 1.00. The company has a 50 day moving average price of $361.82 and a 200-day moving average price of $336.13. Cummins Inc. has a fifty-two week low of $247.53 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $8.06 billion. During the same period in the previous year, the company posted $4.14 EPS. Cummins’s revenue was down 1.1% on a year-over-year basis. As a group, equities analysts forecast that Cummins Inc. will post 22.57 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 4,327 shares of company stock valued at $1,582,821 over the last three months. 0.56% of the stock is owned by company insiders.

About Cummins

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.