Certified Advisory Corp Trims Holdings in Cummins Inc. (NYSE:CMI)

Certified Advisory Corp reduced its holdings in shares of Cummins Inc. (NYSE:CMI) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,671 shares of the company’s stock after selling 138 shares during the period. Certified Advisory Corp’s holdings in Cummins were worth $1,628,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Chicago Capital LLC boosted its stake in Cummins by 0.9% in the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after purchasing an additional 30 shares in the last quarter. Equitable Trust Co. lifted its position in Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after acquiring an additional 32 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Cummins by 1.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after purchasing an additional 35 shares in the last quarter. Bangor Savings Bank lifted its holdings in shares of Cummins by 24.6% during the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after purchasing an additional 35 shares in the last quarter. Finally, Graypoint LLC boosted its position in shares of Cummins by 2.0% during the fourth quarter. Graypoint LLC now owns 1,874 shares of the company’s stock valued at $653,000 after buying an additional 36 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over 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 Price Performance

Shares of NYSE:CMI opened at $366.55 on Friday. The firm’s 50 day simple moving average is $362.91 and its two-hundred day simple moving average is $326.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The company has a market capitalization of $50.28 billion, a P/E ratio of 24.21, a P/E/G ratio of 1.61 and a beta of 1.01. Cummins Inc. has a 1-year low of $226.52 and a 1-year 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 the consensus estimate of $4.89 by $0.97. The company 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%. Cummins’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.73 EPS. Research analysts expect that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CMI shares. Jefferies Financial Group upped their target price 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. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Robert W. Baird boosted their target price 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. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Finally, Truist Financial upped their price objective on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $374.25.

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.