Cullen Investment Group LTD. Sells 154 Shares of Cummins Inc. (NYSE:CMI)

Cullen Investment Group LTD. cut its position in shares of Cummins Inc. (NYSE:CMI) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,611 shares of the company’s stock after selling 154 shares during the period. Cullen Investment Group LTD.’s holdings in Cummins were worth $5,791,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CMI. Pallas Capital Advisors LLC grew its position in Cummins by 4.6% in the fourth quarter. Pallas Capital Advisors LLC now owns 918 shares of the company’s stock valued at $320,000 after acquiring an additional 40 shares during the period. Friedenthal Financial bought a new stake in Cummins in the fourth quarter valued at $55,000. Eastern Bank grew its position in Cummins by 17.5% in the fourth quarter. Eastern Bank now owns 1,325 shares of the company’s stock valued at $462,000 after acquiring an additional 197 shares during the period. Capital Investment Advisors LLC grew its position in Cummins by 2.0% in the fourth quarter. Capital Investment Advisors LLC now owns 110,386 shares of the company’s stock valued at $38,481,000 after acquiring an additional 2,211 shares during the period. Finally, Trust Co. of Toledo NA OH grew its position in Cummins by 14.3% in the fourth quarter. Trust Co. of Toledo NA OH now owns 1,218 shares of the company’s stock valued at $425,000 after acquiring an additional 152 shares during the period. 83.46% of the stock is currently owned by institutional investors.

Cummins Trading Up 1.7 %

NYSE:CMI opened at $360.80 on Tuesday. Cummins Inc. has a 1-year low of $226.52 and a 1-year high of $387.90. The business’s 50-day moving average price is $362.62 and its two-hundred day moving average price is $325.60. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $49.49 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.78 and a beta of 0.99.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share 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 firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the prior year, the firm posted $4.73 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, equities analysts expect that Cummins Inc. will post 20.75 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on CMI. Truist Financial upped their price target on Cummins from $369.00 to $424.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $355.00 to $420.00 in a report on Monday, December 9th. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird increased their target price on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $363.50.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 162 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 6,489 shares of company stock worth $2,357,531 over the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

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.