Murphy Pohlad Asset Management LLC Sells 185 Shares of Cummins Inc. (NYSE:CMI)

Murphy Pohlad Asset Management LLC trimmed its stake in Cummins Inc. (NYSE:CMI) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,515 shares of the company’s stock after selling 185 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Cummins were worth $2,620,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Global Trust Asset Management LLC grew its holdings in shares of 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 purchasing an additional 28 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Cummins during the 3rd quarter worth about $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Cummins during the third quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Cummins during the third quarter valued at approximately $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 institutional investors and hedge funds.

Cummins Price Performance

Shares of NYSE CMI opened at $354.31 on Thursday. 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 business has a 50-day moving average of $363.40 and a 200-day moving average of $332.55. The stock has a market capitalization of $48.60 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 1.69 and a beta of 1.01. Cummins Inc. has a fifty-two week low of $236.00 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.73 EPS. As a group, sell-side analysts predict that Cummins Inc. will post 21.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CMI has been the topic of a number of recent research reports. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Robert W. Baird upped their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. 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 note on Wednesday, November 6th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Finally, StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cummins presently has an average rating of “Moderate Buy” and an average target price of $374.25.

Insider Activity

In related news, VP Sharon R. Barner sold 162 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 6,490 shares of company stock valued at $2,357,880 in the last quarter. Company insiders own 0.56% of the company’s stock.

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.