Cummins Inc. (NYSE:CMI) Shares Sold by Heartland Bank & Trust Co

Heartland Bank & Trust Co trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,057 shares of the company’s stock after selling 65 shares during the period. Heartland Bank & Trust Co’s holdings in Cummins were worth $717,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CMI. Pathway Financial Advisers LLC lifted its holdings in shares of Cummins by 31,489.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after acquiring an additional 2,523,854 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Cummins by 38,765.8% during the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after purchasing an additional 972,247 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after buying an additional 165,398 shares during the period. State Street Corp grew its stake in shares of Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after buying an additional 126,703 shares in the last quarter. Finally, abrdn plc lifted its position in Cummins by 22.5% during the 3rd quarter. abrdn plc now owns 611,810 shares of the company’s stock worth $198,119,000 after acquiring an additional 112,529 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on CMI shares. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $355.00 to $420.00 in a report on Monday, December 9th. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $374.25.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 162 shares of the business’s 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 approximately $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by company insiders.

Cummins Stock Performance

Cummins stock opened at $367.45 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins Inc. has a 12 month low of $236.00 and a 12 month high of $387.90. The company has a fifty day moving average price of $363.94 and a two-hundred day moving average price of $331.60. The company has a market cap of $50.41 billion, a PE ratio of 24.27, a P/E/G ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the firm earned $4.73 EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts expect that Cummins Inc. will post 21.92 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.