Cummins Inc. (NYSE:CMI) Shares Purchased by City Holding Co.

City Holding Co. grew its holdings in Cummins Inc. (NYSE:CMI) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,039 shares of the company’s stock after buying an additional 159 shares during the quarter. City Holding Co.’s holdings in Cummins were worth $5,940,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in Cummins in the 3rd quarter valued at about $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Cummins during the third quarter worth $34,000. Friedenthal Financial purchased a new stake in Cummins during the fourth quarter worth about $55,000. Ashton Thomas Securities LLC purchased a new stake in shares of Cummins during the third quarter worth $55,000. Finally, Bangor Savings Bank increased its stake in shares of 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 during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Trading Down 0.1 %

Shares of NYSE:CMI opened at $365.98 on Monday. Cummins Inc. has a fifty-two week low of $226.52 and a fifty-two week 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. The company has a market cap of $50.21 billion, a PE ratio of 24.17, a P/E/G ratio of 1.61 and a beta of 1.01. The company’s 50-day moving average price is $363.33 and its 200 day moving average price is $327.80.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period last year, the firm earned $4.73 EPS. The firm’s revenue was up .3% compared to the same quarter last year. Sell-side analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on CMI. Robert W. Baird increased their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Jefferies Financial Group boosted their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Citigroup decreased their price target on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and increased their target price for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Cummins presently has an average rating of “Hold” and a consensus target price of $374.25.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 162 shares of the stock in a transaction on Friday, November 8th. The stock was 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 approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is owned by corporate insiders.

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.