Cummins Inc. (NYSE:CMI) Stock Position Trimmed by Albert D Mason Inc.

Albert D Mason Inc. trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 6.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,516 shares of the company’s stock after selling 549 shares during the period. Cummins accounts for about 2.0% of Albert D Mason Inc.’s investment portfolio, making the stock its 4th biggest holding. Albert D Mason Inc.’s holdings in Cummins were worth $2,969,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in Cummins in the third quarter worth $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Cummins during the 3rd quarter worth $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Cummins during the 3rd quarter worth $55,000. Friedenthal Financial purchased a new position in shares of Cummins in the 4th quarter valued at about $55,000. Finally, Bangor Savings Bank lifted its stake in shares of Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after purchasing an additional 35 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Performance

Shares of NYSE CMI opened at $365.98 on Friday. The company has a 50-day simple moving average of $363.14 and a 200-day simple moving average of $326.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The company has a market cap of $50.21 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. Cummins Inc. has a 12 month low of $226.52 and a 12 month high of $387.90.

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 net margin of 6.13% and a return on equity of 26.86%. 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 company earned $4.73 EPS. Cummins’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CMI shares. Citigroup lowered their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday. Jefferies Financial Group upped their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Robert W. Baird lifted their price objective on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Finally, Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and raised their price target for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $374.25.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the firm’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 sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by insiders.

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.