Murphy Middleton Hinkle & Parker Inc. Sells 103 Shares of Cummins Inc. (NYSE:CMI)

Murphy Middleton Hinkle & Parker Inc. decreased its holdings in Cummins Inc. (NYSE:CMI) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 627 shares of the company’s stock after selling 103 shares during the period. Murphy Middleton Hinkle & Parker Inc.’s holdings in Cummins were worth $219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in Cummins in the 3rd quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cummins in the third quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Cummins during the third quarter valued at approximately $55,000. Friedenthal Financial bought a new position in Cummins during the fourth quarter valued at approximately $55,000. Finally, Bangor Savings Bank boosted its holdings in Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after purchasing an additional 35 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CMI has been the topic of several research analyst reports. Citigroup lowered their price target on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 14th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Truist Financial increased their price objective on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Jefferies Financial Group boosted their target price on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $374.25.

Cummins Trading Down 0.1 %

Shares of Cummins stock opened at $365.98 on Friday. Cummins Inc. has a fifty-two week low of $226.52 and a fifty-two week high of $387.90. 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 market capitalization of $50.21 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.61 and a beta of 1.01. The company has a fifty day moving average of $363.33 and a 200 day moving average of $327.38.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The firm had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.73 earnings per share. On average, sell-side analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Cummins

In other Cummins 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 value of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 6,489 shares of company stock valued at $2,357,531 in the last three months. 0.56% of the stock is currently owned by corporate insiders.

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.