Moloney Securities Asset Management LLC Reduces Stock Holdings in Cummins Inc. (NYSE:CMI)

Moloney Securities Asset Management LLC lessened its stake in Cummins Inc. (NYSE:CMI) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,491 shares of the company’s stock after selling 147 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Cummins were worth $520,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. CWM LLC lifted its stake in shares of Cummins by 17.4% in the third quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after acquiring an additional 1,786 shares in the last quarter. Ritholtz Wealth Management increased its holdings in Cummins by 8.9% during the 3rd quarter. Ritholtz Wealth Management now owns 5,952 shares of the company’s stock worth $1,927,000 after purchasing an additional 484 shares during the last quarter. Carnegie Investment Counsel raised its position in shares of Cummins by 6.1% in the 3rd quarter. Carnegie Investment Counsel now owns 21,762 shares of the company’s stock valued at $7,046,000 after purchasing an additional 1,257 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Cummins by 125.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 408 shares of the company’s stock valued at $132,000 after buying an additional 227 shares during the last quarter. Finally, Douglas Lane & Associates LLC acquired a new stake in shares of Cummins during the third quarter worth approximately $201,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity

In related news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 4,327 shares of company stock valued at $1,582,821. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CMI shares. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the company from $355.00 to $420.00 in a report on Monday, December 9th. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Truist Financial upped their price objective on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Eight 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 presently has a consensus rating of “Hold” and a consensus target price of $383.08.

Cummins Price Performance

Shares of CMI opened at $373.98 on Tuesday. 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 company has a market cap of $51.30 billion, a P/E ratio of 13.28, a PEG ratio of 2.10 and a beta of 1.00. Cummins Inc. has a 12 month low of $250.90 and a 12 month high of $387.90. The stock has a fifty day moving average price of $361.82 and a 200 day moving average price of $336.52.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.14 EPS. On average, research analysts forecast that Cummins Inc. will post 22.57 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.