Roosevelt Investment Group Inc. bought a new stake in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,276 shares of the company’s stock, valued at approximately $571,000.
Other institutional investors have also made changes to their positions in the company. Ipswich Investment Management Co. Inc. acquired a new stake in shares of Cummins during the fourth quarter valued at about $28,000. We Are One Seven LLC acquired a new stake in shares of Cummins during the fourth quarter valued at about $37,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Cummins during the fourth quarter valued at about $38,000. Capital Investment Advisory Services LLC acquired a new stake in shares of Cummins during the fourth quarter valued at about $42,000. Finally, Transamerica Financial Advisors Inc. grew its stake in shares of Cummins by 208.3% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 370 shares of the company’s stock valued at $50,000 after acquiring an additional 250 shares in the last quarter. Institutional investors own 89.03% of the company’s stock.
Shares of NYSE CMI opened at $148.18 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 0.95 and a debt-to-equity ratio of 0.19. Cummins Inc. has a 52-week low of $124.40 and a 52-week high of $173.32. The stock has a market capitalization of $23.79 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 1.03 and a beta of 1.14.
Cummins (NYSE:CMI) last issued its earnings results on Wednesday, February 6th. The company reported $3.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.81 by ($0.33). Cummins had a return on equity of 29.71% and a net margin of 9.01%. The business had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $6.08 billion. During the same period in the prior year, the business earned $3.03 EPS. The business’s revenue was up 11.9% on a year-over-year basis. As a group, analysts anticipate that Cummins Inc. will post 15.48 EPS for the current fiscal year.
In other Cummins news, VP Tracy A. Embree sold 206 shares of the firm’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $150.00, for a total value of $30,900.00. Following the transaction, the vice president now owns 4,221 shares of the company’s stock, valued at $633,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Norman Thomas Linebarger sold 24,830 shares of the firm’s stock in a transaction dated Monday, December 17th. The stock was sold at an average price of $133.19, for a total transaction of $3,307,107.70. Following the completion of the transaction, the chief executive officer now directly owns 84,418 shares in the company, valued at approximately $11,243,633.42. The disclosure for this sale can be found here. Insiders sold 44,582 shares of company stock worth $6,340,889 in the last three months. 0.67% of the stock is currently owned by corporate insiders.
A number of equities analysts recently commented on CMI shares. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $157.00 price target for the company in a research note on Tuesday, October 23rd. Loop Capital started coverage on Cummins in a research note on Wednesday, October 17th. They issued a “buy” rating and a $170.00 price target for the company. Oppenheimer reiterated a “buy” rating and issued a $164.00 price target on shares of Cummins in a research note on Tuesday, October 30th. Credit Suisse Group reiterated a “buy” rating and issued a $168.00 price target on shares of Cummins in a research note on Tuesday, January 22nd. Finally, Mizuho set a $145.00 price target on Cummins and gave the stock a “hold” rating in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $161.07.
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Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.
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