Choreo LLC Buys 3,438 Shares of Cummins Inc. (NYSE:CMI)

Choreo LLC grew its position in Cummins Inc. (NYSE:CMI) by 50.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,268 shares of the company’s stock after purchasing an additional 3,438 shares during the quarter. Choreo LLC’s holdings in Cummins were worth $3,578,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Global Trust Asset Management LLC raised its holdings in Cummins by 59.6% in 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 shares of 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. Friedenthal Financial acquired a new position in shares of Cummins during the 4th quarter worth about $55,000. Finally, Ashton Thomas Securities LLC bought a new stake in Cummins during the 3rd quarter valued at approximately $55,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction that occurred on 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 6,490 shares of company stock worth $2,357,880 over the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Citigroup cut their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group raised 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. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, Robert W. Baird lifted their target price on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday. 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $383.08.

Cummins Price Performance

Cummins stock opened at $370.03 on Thursday. The business has a 50 day simple moving average of $361.94 and a 200 day simple moving average of $334.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The company has a market capitalization of $50.76 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00. Cummins Inc. has a one year low of $236.00 and a one year high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. During the same period last year, the business earned $4.14 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts forecast that Cummins Inc. will post 20.62 EPS for the current fiscal 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.