Butensky & Cohen Financial Security Inc. Has $5.31 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Butensky & Cohen Financial Security Inc. lowered its stake in Cummins Inc. (NYSE:CMI) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,220 shares of the company’s stock after selling 1,149 shares during the period. Cummins makes up 1.7% of Butensky & Cohen Financial Security Inc.’s holdings, making the stock its 14th biggest holding. Butensky & Cohen Financial Security Inc.’s holdings in Cummins were worth $5,306,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Relyea Zuckerberg Hanson LLC acquired a new position in shares of Cummins during the 4th quarter worth $219,000. Avanza Fonder AB acquired a new position in Cummins during the 4th quarter worth approximately $84,000. Occidental Asset Management LLC lifted its stake in Cummins by 5.0% in the 4th quarter. Occidental Asset Management LLC now owns 13,863 shares of the company’s stock valued at $4,833,000 after purchasing an additional 654 shares during the last quarter. Cvfg LLC acquired a new stake in Cummins in the fourth quarter valued at approximately $479,000. Finally, Fermata Advisors LLC bought a new stake in shares of Cummins during the fourth quarter worth $466,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. The Goldman Sachs Group lifted their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. 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 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 stock a “buy” rating in a research note on Friday, December 6th. Finally, Robert W. Baird raised their target price on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $374.25.

Cummins Price Performance

Cummins stock opened at $365.98 on Friday. The stock has a market capitalization of $50.21 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 1.61 and a beta of 1.01. Cummins Inc. has a 52-week low of $226.52 and a 52-week high of $387.90. 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 stock’s 50 day moving average price is $363.14 and its two-hundred day moving average price is $326.73.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. 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 prior year, the firm earned $4.73 earnings per share. Cummins’s revenue was up .3% on a year-over-year basis. On average, equities analysts predict that Cummins Inc. will post 20.75 earnings per share for the current year.

Insiders Place Their Bets

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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 6,489 shares of company stock worth $2,357,531. Corporate insiders own 0.56% of the company’s stock.

About Cummins

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.