Harel Insurance Investments & Financial Services Ltd. Has $45,000 Stake in Cummins Inc. (NYSE:CMI)

Harel Insurance Investments & Financial Services Ltd. lowered its holdings in shares of Cummins Inc. (NYSE:CMI) by 49.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130 shares of the company’s stock after selling 129 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Cummins were worth $45,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CMI. CX Institutional lifted its stake in Cummins by 12.3% in the fourth quarter. CX Institutional now owns 1,802 shares of the company’s stock valued at $628,000 after buying an additional 198 shares in the last quarter. St. Johns Investment Management Company LLC lifted its position in Cummins by 2.1% in the 4th quarter. St. Johns Investment Management Company LLC now owns 5,062 shares of the company’s stock valued at $1,765,000 after acquiring an additional 103 shares in the last quarter. LexAurum Advisors LLC boosted its stake in Cummins by 5.3% in the 4th quarter. LexAurum Advisors LLC now owns 1,111 shares of the company’s stock worth $387,000 after purchasing an additional 56 shares during the period. Brighton Jones LLC increased its holdings in Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after purchasing an additional 83 shares in the last quarter. Finally, Capital Planning Advisors LLC acquired a new stake in shares of Cummins in the 4th quarter valued at about $213,000. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CMI. Robert W. Baird upped their price objective on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Truist Financial upped their price target on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Citigroup reduced their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cummins currently has an average rating of “Moderate Buy” and an average price target of $374.25.

Insider Activity at Cummins

In other news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction that occurred 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 $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 6,489 shares of company stock worth $2,357,531. Insiders own 0.56% of the company’s stock.

Cummins Stock Performance

CMI opened at $367.45 on Monday. 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 stock 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. Cummins Inc. has a 12-month low of $236.00 and a 12-month high of $387.90. The business has a 50 day moving average of $363.94 and a 200-day moving average of $331.20.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company’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 earnings per share. On average, equities research analysts expect that Cummins Inc. will post 21.92 earnings per share for the current year.

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.