Consolidated Portfolio Review Corp Makes New Investment in Cummins Inc. (NYSE:CMI)

Consolidated Portfolio Review Corp bought a new position in shares of Cummins Inc. (NYSE:CMI) during the 4th quarter, Holdings Channel reports. The fund bought 1,698 shares of the company’s stock, valued at approximately $592,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Global Trust Asset Management LLC boosted its holdings in Cummins by 59.6% during 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 acquired a new stake in shares of Cummins during the 3rd quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Cummins during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cummins in the 3rd quarter worth approximately $55,000. Finally, Friedenthal Financial purchased a new position in Cummins in the 4th quarter valued at approximately $55,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Performance

Shares of CMI stock opened at $372.12 on Friday. The firm has a market capitalization of $51.05 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00. The company has a 50 day moving average price of $361.89 and a 200 day moving average price of $335.21. Cummins Inc. has a one year low of $247.53 and a one year high of $387.90. 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 (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same period last year, the company posted $4.14 EPS. The business’s quarterly revenue was down 1.1% on a year-over-year basis. Sell-side analysts anticipate that Cummins Inc. will post 20.62 EPS for the current year.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total value of $784,065.87. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,540,879.47. This represents a 9.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 6,328 shares of company stock valued at $2,300,040. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CMI shares. The Goldman Sachs Group upped their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Robert W. Baird raised their target price on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a report on Wednesday. StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Finally, Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $383.08.

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.