Applied Capital LLC FL Sells 49 Shares of Cummins Inc. (NYSE:CMI)

Applied Capital LLC FL lowered its stake in shares of Cummins Inc. (NYSE:CMI) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,525 shares of the company’s stock after selling 49 shares during the period. Cummins accounts for about 1.8% of Applied Capital LLC FL’s investment portfolio, making the stock its 18th largest position. Applied Capital LLC FL’s holdings in Cummins were worth $2,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CMI. Global Trust Asset Management LLC lifted its stake in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing 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. Ashton Thomas Securities LLC bought a new position in Cummins during the third quarter valued at approximately $55,000. Finally, Friedenthal Financial purchased a new position in Cummins during the 4th quarter valued at approximately $55,000. Institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 6,489 shares of company stock valued at $2,357,531. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CMI. Citigroup decreased their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group increased their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. The Goldman Sachs Group boosted their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Finally, Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $374.25.

Cummins Price Performance

Shares of NYSE CMI opened at $367.45 on Friday. Cummins Inc. has a 52 week low of $236.00 and a 52 week high of $387.90. The business’s 50 day moving average price is $363.94 and its 200 day moving average price is $330.77. 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 firm has a market cap of $50.41 billion, a P/E ratio of 24.27, a P/E/G ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the firm earned $4.73 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, sell-side analysts expect that Cummins Inc. will post 21.92 earnings per share 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.