Romano Brothers AND Company Sells 49 Shares of Cummins Inc. (NYSE:CMI)

Romano Brothers AND Company trimmed its stake in Cummins Inc. (NYSE:CMI) by 0.5% in the fourth quarter, HoldingsChannel reports. The firm owned 10,363 shares of the company’s stock after selling 49 shares during the period. Romano Brothers AND Company’s holdings in Cummins were worth $3,613,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMI. Blair William & Co. IL increased its position in Cummins by 4.1% in the 2nd quarter. Blair William & Co. IL now owns 24,685 shares of the company’s stock valued at $6,836,000 after buying an additional 961 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Cummins during the second quarter valued at approximately $479,000. Ieq Capital LLC lifted its holdings in shares of Cummins by 13.9% in the 2nd quarter. Ieq Capital LLC now owns 7,078 shares of the company’s stock worth $1,960,000 after purchasing an additional 865 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Cummins by 2.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 28,999 shares of the company’s stock valued at $8,031,000 after purchasing an additional 707 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Cummins by 44.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 145,309 shares of the company’s stock valued at $40,240,000 after purchasing an additional 44,762 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value 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. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CMI shares. Truist Financial raised their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday. The Goldman Sachs Group raised their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 14th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and raised their target price for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Finally, Citigroup decreased their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $374.25.

Cummins Trading Down 0.1 %

Shares of Cummins stock opened at $365.98 on Friday. The firm has a market cap of $50.21 billion, a PE ratio of 24.17, 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. 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 stock has a fifty day moving average price of $363.33 and a 200-day moving average price of $327.38.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $4.73 earnings per share. Equities research analysts anticipate that Cummins Inc. will post 20.75 EPS for the current year.

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.