Advocate Group LLC Has $7.88 Million Stake in Cummins Inc. (NYSE:CMI)

Advocate Group LLC lessened its holdings in Cummins Inc. (NYSE:CMI) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,605 shares of the company’s stock after selling 546 shares during the period. Cummins accounts for 1.5% of Advocate Group LLC’s holdings, making the stock its 28th biggest position. Advocate Group LLC’s holdings in Cummins were worth $7,880,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CMI. Global Trust Asset Management LLC raised its position in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Prospera Private Wealth LLC acquired a new stake in Cummins during the third quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cummins during the third quarter worth approximately $34,000. Friedenthal Financial bought a new position in shares of Cummins during the fourth quarter worth approximately $55,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Cummins during the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Citigroup reduced their price target on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $374.25.

Cummins Stock Down 0.4 %

Shares of NYSE:CMI opened at $367.45 on Friday. Cummins Inc. has a 52-week low of $236.00 and a 52-week high of $387.90. The company has a market capitalization of $50.41 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The company has a fifty day moving average of $363.94 and a 200-day moving average of $330.77.

Cummins (NYSE:CMI) last posted its 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 firm had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period last year, the company earned $4.73 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. On average, equities analysts predict that Cummins Inc. will post 21.92 EPS for the current fiscal year.

Insider Buying and Selling at Cummins

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

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.