Goelzer Investment Management Inc. Purchases 160 Shares of Cummins Inc. (NYSE:CMI)

Goelzer Investment Management Inc. grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,699 shares of the company’s stock after purchasing an additional 160 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Cummins were worth $1,289,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CMI. Global Trust Asset Management LLC grew its stake 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 buying an additional 28 shares in the last quarter. Chicago Capital LLC increased its holdings in shares of Cummins by 0.9% in the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after purchasing an additional 30 shares during the period. Equitable Trust Co. increased its holdings in shares of Cummins by 3.6% in the third quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after purchasing an additional 32 shares during the period. EP Wealth Advisors LLC boosted its stake in Cummins by 1.9% during the second quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock valued at $520,000 after buying an additional 35 shares during the period. Finally, Bangor Savings Bank grew its position in Cummins by 24.6% during the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after buying an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CMI shares. The Goldman Sachs Group increased their price target on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Truist Financial upped their price objective on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $355.00 to $420.00 in a report on Monday, December 9th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and increased their price target for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Finally, StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cummins presently has an average rating of “Moderate Buy” and a consensus price target of $374.25.

Cummins Stock Performance

Cummins stock opened at $367.45 on Friday. The stock’s 50 day moving average is $363.83 and its 200 day moving average is $330.09. The company has a market capitalization of $50.41 billion, a P/E ratio of 24.27, a PEG ratio of 1.69 and a beta of 1.01. Cummins Inc. has a twelve month low of $236.00 and a twelve month high of $387.90. 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 (NYSE:CMI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. The firm 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%. The company’s revenue was up .3% on a year-over-year basis. During the same period last year, the company earned $4.73 earnings per share. On average, equities research analysts predict that Cummins Inc. will post 21.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the 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 directly owns 20,803 shares in the company, valued at approximately $7,540,879.47. This trade represents a 9.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is 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.