Richard C. Young & CO. LTD. Boosts Holdings in Cummins Inc. (NYSE:CMI)

Richard C. Young & CO. LTD. boosted its stake in Cummins Inc. (NYSE:CMI) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,659 shares of the company’s stock after acquiring an additional 51 shares during the period. Richard C. Young & CO. LTD.’s holdings in Cummins were worth $13,128,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CMI. PFG Investments LLC lifted its holdings in shares of Cummins by 27.7% in the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after purchasing an additional 485 shares during the last quarter. Mariner Investment Group LLC acquired a new position in Cummins during the fourth quarter worth approximately $1,046,000. CWM LLC increased its position in Cummins by 17.4% during the third quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after buying an additional 1,786 shares during the period. Alpha DNA Investment Management LLC acquired a new stake in shares of Cummins in the third quarter valued at approximately $748,000. Finally, Franklin Resources Inc. grew its position in shares of Cummins by 74.2% during the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after acquiring an additional 99,464 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Cummins stock opened at $372.12 on Friday. The stock has a market capitalization of $51.05 billion, a P/E ratio of 13.21, a P/E/G ratio of 2.10 and a beta of 1.00. Cummins Inc. has a 12-month low of $247.53 and a 12-month high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79. The firm’s 50-day moving average is $361.82 and its two-hundred day moving average is $335.77.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the prior year, the company posted $4.14 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities analysts predict that Cummins Inc. will post 22.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CMI has been the subject of several research reports. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and upped their price target for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Jefferies Financial Group increased their target price on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. raised 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 note on Monday, December 9th. StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Barclays upped their price target on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $383.08.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total transaction of $784,065.87. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,540,879.47. The trade was a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 6,328 shares of company stock valued at $2,300,040 over the last three months. 0.56% of the stock is owned by company 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.