Crews Bank & Trust Buys New Position in Cummins Inc. (NYSE:CMI)

Crews Bank & Trust bought a new stake in shares of Cummins Inc. (NYSE:CMI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,200 shares of the company’s stock, valued at approximately $418,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CMI. Global Trust Asset Management LLC boosted its position in shares of Cummins by 59.6% during the 4th 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 in the last quarter. Prospera Private Wealth LLC bought a new position in Cummins in the third quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new position in Cummins in the third quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new position in Cummins in the third quarter worth approximately $55,000. Finally, Friedenthal Financial bought a new position in Cummins in the fourth quarter worth approximately $55,000. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of CMI opened at $359.81 on Friday. 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 company has a market capitalization of $49.36 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 1.69 and a beta of 1.01. The stock has a 50 day moving average of $363.27 and a 200 day moving average of $332.70. Cummins Inc. has a 12 month low of $236.00 and a 12 month high of $387.90.

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

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This trade represents 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 this link. Over the last three months, insiders sold 6,490 shares of company stock valued at $2,357,880. 0.56% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on CMI shares. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their price target 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, January 22nd. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Robert W. Baird increased their price target on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and raised their target price for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cummins currently has an average rating of “Moderate Buy” and a consensus target price of $374.25.

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.