Forsta AP Fonden Has $17.65 Million Stock Position in Cummins Inc. (NYSE:CMI)

Forsta AP Fonden raised its holdings in Cummins Inc. (NYSE:CMI) by 44.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 50,640 shares of the company’s stock after acquiring an additional 15,500 shares during the quarter. Forsta AP Fonden’s holdings in Cummins were worth $17,653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Nvest Financial LLC acquired a new stake in shares of Cummins in the 4th quarter valued at about $206,000. Robeco Institutional Asset Management B.V. boosted its holdings in Cummins by 0.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 353,341 shares of the company’s stock worth $123,175,000 after acquiring an additional 3,220 shares in the last quarter. Kirr Marbach & Co. LLC IN grew its stake in Cummins by 41.3% in the fourth quarter. Kirr Marbach & Co. LLC IN now owns 1,510 shares of the company’s stock valued at $526,000 after acquiring an additional 441 shares during the period. Twelve Points Wealth Management LLC increased its holdings in shares of Cummins by 3.3% during the fourth quarter. Twelve Points Wealth Management LLC now owns 3,270 shares of the company’s stock valued at $1,140,000 after acquiring an additional 104 shares in the last quarter. Finally, Mayflower Financial Advisors LLC raised its position in shares of Cummins by 2.0% during the fourth quarter. Mayflower Financial Advisors LLC now owns 1,631 shares of the company’s stock worth $568,000 after purchasing an additional 32 shares during the period. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Performance

Shares of Cummins stock opened at $354.31 on Thursday. The business’s fifty day simple moving average is $363.40 and its 200 day simple moving average is $332.55. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 12 month low of $236.00 and a 12 month high of $387.90. The firm has a market capitalization of $48.60 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The company had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted $4.73 EPS. As a group, analysts anticipate that Cummins Inc. will post 21.92 EPS for the current year.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 6,490 shares of company stock valued at $2,357,880. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a research report on Wednesday, November 6th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Finally, StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and a consensus price target of $374.25.

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.