Cummins Inc. (NYSE:CMI) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC lessened its holdings in shares of Cummins Inc. (NYSE:CMI) by 2.1% in the fourth quarter, HoldingsChannel reports. The fund owned 39,250 shares of the company’s stock after selling 844 shares during the period. Lmcg Investments LLC’s holdings in Cummins were worth $13,683,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Prospera Private Wealth LLC acquired a new stake in shares of Cummins in the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Cummins during the 3rd quarter valued at about $34,000. Friedenthal Financial acquired a new position in shares of Cummins in the 4th quarter worth approximately $55,000. Ashton Thomas Securities LLC bought a new stake in shares of Cummins in the 3rd quarter worth approximately $55,000. Finally, Bangor Savings Bank lifted its stake 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 last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Vertical Research downgraded 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. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Citigroup lowered their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group increased their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $374.25.

Cummins Stock Performance

NYSE:CMI opened at $365.98 on Tuesday. The firm has a market capitalization of $50.21 billion, a PE ratio of 24.17, a PEG ratio of 1.69 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 Inc. has a 1 year low of $226.52 and a 1 year high of $387.90. The firm’s fifty day simple moving average is $363.33 and its 200 day simple moving average is $328.19.

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

Insider Transactions at Cummins

In other 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 transaction of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by company insiders.

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.