Caprock Group LLC Grows Position in Cummins Inc. (NYSE:CMI)

Caprock Group LLC boosted its position in Cummins Inc. (NYSE:CMI) by 6.6% during the 4th quarter, Holdings Channel reports. The fund owned 9,147 shares of the company’s stock after acquiring an additional 568 shares during the quarter. Caprock Group LLC’s holdings in Cummins were worth $3,189,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CMI. PFG Investments LLC lifted its position in shares of Cummins by 27.7% during the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after purchasing an additional 485 shares during the last quarter. Mariner Investment Group LLC purchased a new stake in Cummins during the 4th quarter worth about $1,046,000. CWM LLC boosted its position in shares of Cummins by 17.4% during the 3rd 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. Alpha DNA Investment Management LLC purchased a new position in shares of Cummins in the 3rd quarter valued at about $748,000. Finally, Franklin Resources Inc. raised its position in shares of Cummins by 74.2% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In related news, VP Sharon R. Barner sold 2,001 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $358.43, for a total value of $717,218.43. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at $7,456,419.29. This trade represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 6,490 shares of company stock worth $2,357,880. Corporate insiders own 0.56% of the company’s stock.

Cummins Trading Down 1.0 %

NYSE CMI opened at $356.25 on Friday. Cummins Inc. has a 52-week low of $236.00 and a 52-week high of $387.90. The firm has a 50-day moving average price of $363.08 and a 200 day moving average price of $332.89. The stock has a market capitalization of $48.87 billion, a P/E ratio of 23.53, a P/E/G ratio of 1.63 and a beta of 1.01. 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 posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period last year, the firm earned $4.73 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. Equities research analysts expect that Cummins Inc. will post 20.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Robert W. Baird raised their price objective on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Evercore ISI upgraded shares of 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. Bank of America upgraded 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 note on Tuesday, January 14th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and upped their target price for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $374.25.

Cummins 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.