Cummins Inc. (NYSE:CMI) Shares Sold by GSB Wealth Management LLC

GSB Wealth Management LLC reduced its stake in shares of Cummins Inc. (NYSE:CMI) by 4.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,895 shares of the company’s stock after selling 454 shares during the period. GSB Wealth Management LLC’s holdings in Cummins were worth $3,101,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. State Street Corp grew its position in shares of Cummins by 2.1% during the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company’s stock valued at $2,039,894,000 after acquiring an additional 126,703 shares during the period. Fisher Asset Management LLC lifted its stake in Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after buying an additional 165,398 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in Cummins by 31,489.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after buying an additional 2,523,854 shares in the last quarter. Legal & General Group Plc increased its stake in Cummins by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock worth $468,503,000 after buying an additional 31,190 shares in the last quarter. Finally, FMR LLC increased its stake in Cummins by 0.8% during the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company’s stock worth $380,484,000 after buying an additional 9,245 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on CMI shares. Citigroup cut their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a report on Wednesday, November 6th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. The Goldman Sachs Group boosted their target price on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group boosted their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $374.25.

Cummins Stock Down 0.4 %

Shares of NYSE CMI opened at $367.45 on Friday. The firm has a market cap of $50.41 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.69 and a beta of 1.01. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 52-week low of $236.00 and a 52-week high of $387.90. The business’s 50 day moving average is $363.94 and its two-hundred day moving average is $330.77.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The company had revenue of $8.46 billion for 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 firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.73 earnings per share. Research analysts predict that Cummins Inc. will post 21.92 EPS for the current year.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total transaction of $784,065.87. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,540,879.47. 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 can be accessed through the SEC website. Over the last 90 days, insiders have sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is currently owned by company 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.