Nvest Financial LLC Acquires Shares of 592 Cummins Inc. (NYSE:CMI)

Nvest Financial LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 592 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Global Trust Asset Management LLC lifted its holdings 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 buying an additional 28 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Cummins during the 3rd quarter worth about $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in Cummins during the third quarter worth approximately $34,000. Ashton Thomas Securities LLC acquired a new position in Cummins in the third quarter valued at approximately $55,000. Finally, Friedenthal Financial purchased a new position in Cummins in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

CMI has been the subject of several research analyst reports. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and upped their target price for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research note on Wednesday, November 6th. The Goldman Sachs Group lifted their target price on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Robert W. Baird upped their target price on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised 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 report on Monday, December 9th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $374.25.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction on Friday, November 8th. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 6,489 shares of company stock valued at $2,357,531 over the last quarter. Company insiders own 0.56% of the company’s stock.

Cummins Stock Up 0.5 %

Shares of NYSE:CMI opened at $350.59 on Wednesday. Cummins Inc. has a fifty-two week low of $236.00 and a fifty-two week high of $387.90. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The firm’s 50-day simple moving average is $363.40 and its 200-day simple moving average is $332.55. The company has a market cap of $48.09 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $0.97. The company 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 firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.73 EPS. As a group, equities research analysts predict that Cummins Inc. will post 21.92 earnings per share for the current year.

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.