Cummins Inc. (NYSE:CMI) Shares Purchased by Calton & Associates Inc.

Calton & Associates Inc. raised its stake in Cummins Inc. (NYSE:CMI) by 9.3% in the fourth quarter, HoldingsChannel reports. The fund owned 1,598 shares of the company’s stock after purchasing an additional 136 shares during the period. Calton & Associates Inc.’s holdings in Cummins were worth $557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CMI. Mediolanum International Funds Ltd acquired a new stake in Cummins during the fourth quarter valued at $441,000. Crews Bank & Trust acquired a new position in Cummins in the 4th quarter worth about $418,000. Busey Bank boosted its position in Cummins by 0.9% during the fourth quarter. Busey Bank now owns 73,679 shares of the company’s stock worth $25,684,000 after purchasing an additional 634 shares in the last quarter. Legacy Trust grew its holdings in Cummins by 1.1% in the fourth quarter. Legacy Trust now owns 19,633 shares of the company’s stock valued at $6,844,000 after purchasing an additional 211 shares during the period. Finally, Field & Main Bank increased its position in shares of Cummins by 1.5% in the fourth quarter. Field & Main Bank now owns 2,498 shares of the company’s stock valued at $871,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Up 1.6 %

Shares of CMI opened at $359.81 on Friday. Cummins Inc. has a 12-month low of $236.00 and a 12-month high of $387.90. The firm has a market capitalization of $49.36 billion, a P/E ratio of 23.77, a P/E/G ratio of 1.69 and a beta of 1.01. The firm has a 50-day moving average price of $363.27 and a 200 day moving average price of $332.70. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.73 EPS. Sell-side analysts forecast that Cummins Inc. will post 21.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CMI. Truist Financial boosted their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and raised their price target for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research note on Wednesday, November 6th. Citigroup decreased their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group boosted their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $374.25.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 6,490 shares of company stock worth $2,357,880. Company 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.