Moloney Securities Asset Management LLC Decreases Position in Cummins Inc. (NYSE:CMI)

Moloney Securities Asset Management LLC reduced its position in shares of Cummins Inc. (NYSE:CMI) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,491 shares of the company’s stock after selling 147 shares during the period. Moloney Securities Asset Management LLC’s holdings in Cummins were worth $520,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Global Trust Asset Management LLC boosted its position in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Cummins in the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Cummins in the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC purchased a new position in Cummins during the third quarter worth approximately $55,000. Finally, Friedenthal Financial acquired a new position in Cummins during the fourth quarter worth $55,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Up 0.6 %

Shares of NYSE CMI opened at $373.98 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $51.30 billion, a PE ratio of 13.28, a P/E/G ratio of 2.10 and a beta of 1.00. The firm has a fifty day moving average of $361.82 and a 200-day moving average of $336.52. Cummins Inc. has a 52-week low of $250.90 and a 52-week high of $387.90.

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

Insider Activity at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction on 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 of the company’s stock, valued at $7,678,803.36. This represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 4,327 shares of company stock worth $1,582,821. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

CMI has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Robert W. Baird lifted their price target on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Barclays lifted their price objective on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $383.08.

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.