Murphy Middleton Hinkle & Parker Inc. Decreases Stock Holdings in Cummins Inc. (NYSE:CMI)

Murphy Middleton Hinkle & Parker Inc. cut its holdings in Cummins Inc. (NYSE:CMI) by 14.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 627 shares of the company’s stock after selling 103 shares during the quarter. Murphy Middleton Hinkle & Parker Inc.’s holdings in Cummins were worth $219,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Chicago Capital LLC grew its stake in shares of Cummins by 0.9% in the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after buying an additional 30 shares in the last quarter. Equitable Trust Co. grew its position in Cummins by 3.6% in the third quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after acquiring an additional 32 shares in the last quarter. EP Wealth Advisors LLC increased its stake in Cummins by 1.9% during the second quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after acquiring an additional 35 shares during the last quarter. Bangor Savings Bank raised its position in Cummins by 24.6% during 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. Finally, Graypoint LLC lifted its stake in shares of Cummins by 2.0% in the 4th quarter. Graypoint LLC now owns 1,874 shares of the company’s stock valued at $653,000 after purchasing an additional 36 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of Cummins stock opened at $365.98 on Friday. Cummins Inc. has a 12 month low of $226.52 and a 12 month high of $387.90. The stock’s fifty day moving average price is $363.33 and its 200-day moving average price is $327.38. The firm has a market cap of $50.21 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.61 and a beta of 1.01. 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 EPS for the quarter, beating 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 business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the business posted $4.73 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts expect that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

CMI has been the topic of several recent research reports. Robert W. Baird increased their price target on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Citigroup reduced their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Truist Financial increased their price objective on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, 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 report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Cummins has a consensus rating of “Hold” and an average price target of $374.25.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction dated 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 directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 over the last 90 days. Company insiders own 0.56% of the company’s stock.

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.