Richard C. Young & CO. LTD. Raises Stock Position in Cummins Inc. (NYSE:CMI)

Richard C. Young & CO. LTD. increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,659 shares of the company’s stock after purchasing an additional 51 shares during the quarter. Richard C. Young & CO. LTD.’s holdings in Cummins were worth $13,128,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global Trust Asset Management LLC increased its holdings in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Cummins during the third quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Cummins during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new stake in Cummins in the third quarter worth $55,000. Finally, Friedenthal Financial purchased a new stake in shares of Cummins during the 4th quarter valued at about $55,000. 83.46% of the stock is currently owned by institutional investors.

Insider Transactions at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,678,803.36. This represents a 9.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 6,328 shares of company stock valued at $2,300,040 over the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CMI shares. Robert W. Baird boosted their target price on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday. StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday. The Goldman Sachs Group boosted their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Citigroup decreased their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research note on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $383.08.

Cummins Stock Up 0.8 %

CMI stock opened at $372.12 on Friday. The firm’s fifty day moving average is $361.82 and its 200 day moving average is $335.77. The firm has a market cap of $51.05 billion, a PE ratio of 13.21, a P/E/G ratio of 2.10 and a beta of 1.00. Cummins Inc. has a one year low of $247.53 and a one year high of $387.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 1.31.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $4.14 earnings per share. On average, research analysts forecast that Cummins Inc. will post 22.57 EPS for the current year.

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.