1,018 Shares in Cummins Inc. (NYSE:CMI) Acquired by Golden State Wealth Management LLC

Golden State Wealth Management LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,018 shares of the company’s stock, valued at approximately $355,000.

Other institutional investors also recently bought and sold shares of the company. Global Trust Asset Management LLC raised its stake in shares of 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 purchased a new position in Cummins during the 3rd quarter valued at about $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Cummins during the third quarter worth about $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Cummins in the third quarter valued at about $55,000. Finally, Friedenthal Financial acquired a new stake in shares of Cummins in the fourth quarter valued at approximately $55,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Performance

NYSE:CMI opened at $372.12 on Friday. Cummins Inc. has a fifty-two week low of $247.53 and a fifty-two week high of $387.90. The firm’s 50 day moving average is $361.89 and its two-hundred day moving average is $335.21. The company has a market cap of $51.05 billion, a P/E ratio of 24.58, a P/E/G ratio of 1.64 and a beta of 1.00. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 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 down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.14 earnings per share. Analysts expect that Cummins Inc. will post 20.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $355.00 to $420.00 in a research report on Monday, December 9th. The Goldman Sachs Group lifted their price objective on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Jefferies Financial Group upped their target price on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Cummins presently has a consensus rating of “Hold” and a consensus price target of $383.08.

Insider Transactions at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,001 shares of Cummins stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $358.43, for a total transaction of $717,218.43. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,456,419.29. The trade was a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 6,328 shares of company stock worth $2,300,040. 0.56% of the stock is currently owned by company insiders.

Cummins Company 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.