Arbor Trust Wealth Advisors LLC Has $478,000 Holdings in Cummins Inc. (NYSE:CMI)

Arbor Trust Wealth Advisors LLC decreased its holdings in shares of Cummins Inc. (NYSE:CMI) by 18.0% in the 4th quarter, Holdings Channel reports. The fund owned 1,370 shares of the company’s stock after selling 300 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in Cummins were worth $478,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CMI. Prospera Private Wealth LLC acquired a new position in Cummins during the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cummins during the third quarter worth $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Cummins during the third quarter worth $55,000. Friedenthal Financial bought a new position in shares of Cummins in the 4th quarter valued at $55,000. Finally, Bangor Savings Bank boosted its holdings in shares of Cummins by 24.6% during the 4th quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the subject of a number of recent research reports. Truist Financial upped their target price on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday. JPMorgan Chase & Co. upgraded 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 report on Monday, December 9th. Robert W. Baird boosted their target price on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Jefferies Financial Group raised their price target on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $374.25.

Cummins Stock Down 0.1 %

CMI stock opened at $365.98 on Friday. The stock’s 50 day simple moving average is $363.33 and its 200 day simple moving average is $327.38. The company has a market cap of $50.21 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. Cummins Inc. has a fifty-two week low of $226.52 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share 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 company 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 for the quarter was up .3% on a year-over-year basis. On average, research analysts expect that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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 directly owns 20,803 shares of the company’s stock, 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 at this link. In the last 90 days, insiders sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is owned by corporate insiders.

Cummins Company 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.