JGP Wealth Management LLC Sells 41 Shares of Cummins Inc. (NYSE:CMI)

JGP Wealth Management LLC reduced its stake in shares of Cummins Inc. (NYSE:CMI) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,732 shares of the company’s stock after selling 41 shares during the quarter. JGP Wealth Management LLC’s holdings in Cummins were worth $1,301,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in shares of Cummins in the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new position in Cummins in the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC acquired a new position in Cummins in the third quarter worth $55,000. Friedenthal Financial bought a new stake in shares of Cummins during the fourth quarter worth $55,000. Finally, Bangor Savings Bank increased 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 buying an additional 35 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 6,489 shares of company stock valued at $2,357,531 in the last 90 days. 0.56% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research report on Wednesday, November 6th. Truist Financial raised their price target on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday. Citigroup reduced their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, StockNews.com cut Cummins from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $374.25.

Cummins Stock Up 1.6 %

NYSE:CMI opened at $366.55 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 12-month low of $226.52 and a 12-month high of $387.90. The stock’s fifty day simple moving average is $362.91 and its 200-day simple moving average is $326.45. The firm has a market capitalization of $50.28 billion, a P/E ratio of 24.21, a P/E/G ratio of 1.61 and a beta of 1.01.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The firm had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business earned $4.73 earnings per share. Equities research analysts expect that Cummins Inc. will post 20.75 earnings per share for the current year.

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.