Cummins Inc. (NYSE:CMI) Stake Decreased by Heartland Bank & Trust Co

Heartland Bank & Trust Co trimmed its holdings in Cummins Inc. (NYSE:CMI) by 3.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,057 shares of the company’s stock after selling 65 shares during the quarter. Heartland Bank & Trust Co’s holdings in Cummins were worth $717,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CMI. Global Trust Asset Management LLC boosted its position in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares during the period. Prospera Private Wealth LLC acquired a new stake in Cummins in the third quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new position in Cummins in the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC acquired a new position in Cummins during the 3rd quarter valued at about $55,000. Finally, Friedenthal Financial bought a new stake in shares of Cummins during the 4th quarter worth about $55,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Price Performance

CMI stock opened at $367.45 on Monday. Cummins Inc. has a one year low of $236.00 and a one year high of $387.90. The firm has a 50-day moving average of $363.94 and a two-hundred day moving average of $331.60. The firm has a market capitalization of $50.41 billion, a PE ratio of 24.27, a P/E/G 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 (NYSE:CMI) last issued 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 the consensus estimate of $8.29 billion. During the same quarter in the prior year, the firm earned $4.73 EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts forecast that Cummins Inc. will post 21.92 earnings per share for the current year.

Analyst Ratings Changes

CMI has been the subject of several recent analyst reports. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Citigroup cut their target price on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Robert W. Baird upped their price objective on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Truist Financial lifted their target price on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $374.25.

Insider Activity

In other Cummins news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is owned by corporate insiders.

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.