Stonebridge Financial Group LLC Makes New $4.45 Million Investment in Cummins Inc. (NYSE:CMI)

Stonebridge Financial Group LLC bought a new stake in shares of Cummins Inc. (NYSE:CMI) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,774 shares of the company’s stock, valued at approximately $4,453,000.

A number of other hedge funds also recently modified their holdings of the business. PFG Investments LLC lifted its stake in Cummins by 27.7% in the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after acquiring an additional 485 shares in the last quarter. Mariner Investment Group LLC acquired a new position in shares of Cummins in the 4th quarter valued at about $1,046,000. CWM LLC lifted its position in shares of Cummins by 17.4% in the third quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after purchasing an additional 1,786 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new stake in shares of Cummins during the third quarter worth approximately $748,000. Finally, Franklin Resources Inc. grew its position in Cummins by 74.2% during the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after purchasing an additional 99,464 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 4,327 shares of company stock worth $1,582,821. Company insiders own 0.56% of the company’s stock.

Cummins Trading Up 0.6 %

Shares of CMI stock opened at $373.98 on Tuesday. Cummins Inc. has a 12 month low of $250.90 and a 12 month high of $387.90. The company has a market cap of $51.30 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $361.82 and its two-hundred day moving average is $336.52.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period last year, the business posted $4.14 EPS. Cummins’s revenue was down 1.1% compared to the same quarter last year. Equities analysts predict that Cummins Inc. will post 22.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Robert W. Baird increased their target price on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $355.00 to $420.00 in a report on Monday, December 9th. The Goldman Sachs Group boosted their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Citigroup cut their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Barclays boosted their price target on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $383.08.

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.