Cummins Inc. (NYSE:CMI) Shares Purchased by Wesbanco Bank Inc.

Wesbanco Bank Inc. boosted its holdings in shares of Cummins Inc. (NYSE:CMI) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,106 shares of the company’s stock after acquiring an additional 108 shares during the quarter. Wesbanco Bank Inc.’s holdings in Cummins were worth $734,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Global Trust Asset Management LLC lifted its position in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Cummins during the third quarter valued at about $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Cummins in the 3rd quarter valued at approximately $34,000. Friedenthal Financial acquired a new position in shares of Cummins in the 4th quarter worth approximately $55,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Cummins during the 3rd quarter worth approximately $55,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

CMI has been the topic of a number of research analyst reports. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Citigroup decreased their target price 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 Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Robert W. Baird raised their price objective on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $374.25.

Insider Activity

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 6,489 shares of company stock valued at $2,357,531. Insiders own 0.56% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $369.32 on Friday. The stock’s 50-day simple moving average is $363.72 and its 200-day simple moving average is $329.82. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The firm has a market capitalization of $50.66 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. Cummins Inc. has a fifty-two week low of $234.49 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.73 EPS. As a group, equities research analysts forecast that Cummins Inc. will post 21.92 EPS for the current fiscal 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.