Romano Brothers AND Company Has $3.61 Million Holdings in Cummins Inc. (NYSE:CMI)

Romano Brothers AND Company decreased its holdings in Cummins Inc. (NYSE:CMI) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,363 shares of the company’s stock after selling 49 shares during the quarter. Romano Brothers AND Company’s holdings in Cummins were worth $3,613,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new stake in shares of Cummins in the third quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Cummins in the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Cummins during the 3rd quarter valued at $55,000. Friedenthal Financial acquired a new stake in shares of Cummins during the 4th quarter worth $55,000. Finally, Bangor Savings Bank increased its position in shares of 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 period. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CMI shares. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 14th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Jefferies Financial Group raised their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Citigroup lowered their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Cummins presently has a consensus rating of “Hold” and an average price target of $374.25.

Cummins Stock Performance

NYSE:CMI opened at $365.98 on Friday. The stock’s 50-day moving average is $363.33 and its 200-day moving average is $327.38. Cummins Inc. has a 1-year low of $226.52 and a 1-year high of $387.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a market cap of $50.21 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01.

Cummins (NYSE:CMI) last issued its quarterly 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 analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. Cummins’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.73 earnings per share. Equities research analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current year.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the business’s 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 transaction, the vice president now owns 20,803 shares in the company, valued at $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have sold 6,489 shares of company stock worth $2,357,531. Insiders own 0.56% of the company’s stock.

Cummins 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.