Capital Planning Advisors LLC Takes Position in Cummins Inc. (NYSE:CMI)

Capital Planning Advisors LLC acquired a new stake in Cummins Inc. (NYSE:CMI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 610 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds also recently made changes to their positions in the company. Global Trust Asset Management LLC lifted its position in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Cummins in the third quarter worth about $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Cummins in the third quarter worth about $34,000. Friedenthal Financial purchased a new stake in shares of Cummins in the fourth quarter worth about $55,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Cummins in the third quarter worth about $55,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 2,001 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $358.43, for a total transaction of $717,218.43. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,456,419.29. This represents a 8.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is currently owned by corporate insiders.

Cummins Stock Down 0.5 %

Shares of NYSE:CMI opened at $365.34 on Thursday. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The stock has a market cap of $50.12 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The business’s 50 day moving average is $363.72 and its 200 day moving average is $329.82. Cummins Inc. has a 52-week low of $234.04 and a 52-week high of $387.90.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion for 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%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $4.73 EPS. Sell-side analysts predict that Cummins Inc. will post 21.92 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on CMI. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. The Goldman Sachs Group upped their price objective on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Citigroup decreased their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Finally, Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $374.25.

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.