Cummins Inc. (NYSE:CMI) Shares Sold by Burney Co.

Burney Co. lowered its stake in Cummins Inc. (NYSE:CMI) by 15.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,570 shares of the company’s stock after selling 1,410 shares during the quarter. Burney Co.’s holdings in Cummins were worth $2,639,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its position in Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after buying an additional 126,703 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after acquiring an additional 165,398 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in Cummins by 31,489.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after purchasing an additional 2,523,854 shares during the period. Legal & General Group Plc grew its position in Cummins by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock worth $468,503,000 after purchasing an additional 31,190 shares in the last quarter. Finally, FMR LLC raised its stake in Cummins by 0.8% during the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company’s stock valued at $380,484,000 after purchasing an additional 9,245 shares during the period. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Performance

Shares of CMI opened at $360.80 on Thursday. The company has a market capitalization of $49.49 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins Inc. has a one year low of $226.52 and a one year high of $387.90. The company’s fifty day moving average price is $362.81 and its 200 day moving average price is $326.21.

Cummins (NYSE:CMI) last posted 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. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period in the previous year, the company posted $4.73 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts expect that Cummins Inc. will post 20.75 earnings per share for the current year.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 162 shares of the firm’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 sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 over the last three months. 0.56% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a report on Wednesday, November 6th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Truist Financial boosted their price target on shares of Cummins from $369.00 to $424.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group boosted their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Cummins presently has a consensus rating of “Hold” and an average price target of $374.17.

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.