Mandatum Life Insurance Co Ltd Has $216,000 Stake in Cummins Inc. (NYSE:CMI)

Mandatum Life Insurance Co Ltd cut its position in Cummins Inc. (NYSE:CMI) by 12.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 620 shares of the company’s stock after selling 90 shares during the quarter. Mandatum Life Insurance Co Ltd’s holdings in Cummins were worth $216,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in Cummins in the third quarter valued at about $32,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Cummins in the third quarter worth about $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cummins in the 3rd quarter valued at approximately $55,000. Friedenthal Financial bought a new stake in shares of Cummins during the 4th quarter valued at approximately $55,000. Finally, Bangor Savings Bank increased its position in Cummins by 24.6% during the 4th quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In related news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the transaction, the vice president now owns 20,803 shares in the company, valued at $7,678,803.36. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 6,489 shares of company stock worth $2,357,531. Corporate insiders own 0.56% of the company’s stock.

Cummins Stock Performance

Shares of CMI opened at $365.98 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm’s fifty day simple moving average is $363.33 and its two-hundred day simple moving average is $327.80. Cummins Inc. has a 12 month low of $226.52 and a 12 month high of $387.90. The stock has a market capitalization of $50.21 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01.

Cummins (NYSE:CMI) last announced its 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. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.73 EPS. As a group, analysts predict that Cummins Inc. will post 20.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CMI. JPMorgan Chase & Co. raised shares of 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 note on Monday, December 9th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a report on Wednesday, November 6th. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 14th. Jefferies Financial Group upped their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, The Goldman Sachs Group lifted their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $374.25.

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.