Cummins Inc. (NYSE:CMI) Shares Sold by RFG Advisory LLC

RFG Advisory LLC trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,850 shares of the company’s stock after selling 346 shares during the period. RFG Advisory LLC’s holdings in Cummins were worth $994,000 at the end of the most recent reporting period.

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

Cummins Price Performance

Shares of CMI opened at $367.45 on Friday. The firm has a market capitalization of $50.41 billion, a PE ratio of 24.27, a P/E/G ratio of 1.69 and a beta of 1.01. The stock’s 50 day moving average is $363.94 and its two-hundred day moving average is $330.77. Cummins Inc. has a twelve month low of $236.00 and a twelve month high of $387.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last released its quarterly earnings data 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. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. Cummins’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.73 earnings per share. Research analysts anticipate that Cummins Inc. will post 21.92 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Citigroup decreased their target price on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group raised their target price on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $374.25.

Insider Activity at Cummins

In other news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction that occurred on 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 in the company, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 6,489 shares of company stock worth $2,357,531 over the last 90 days. Company 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.