Cascade Investment Advisors Inc. Sells 65 Shares of Cummins Inc. (NYSE:CMI)

Cascade Investment Advisors Inc. reduced its stake in Cummins Inc. (NYSE:CMI) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,099 shares of the company’s stock after selling 65 shares during the quarter. Cummins accounts for 1.6% of Cascade Investment Advisors Inc.’s portfolio, making the stock its 12th largest position. Cascade Investment Advisors Inc.’s holdings in Cummins were worth $2,475,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CMI. 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 purchasing an additional 28 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Cummins during the 3rd quarter worth about $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Cummins during the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC bought a new position in shares of Cummins in the 3rd quarter valued at about $55,000. Finally, Friedenthal Financial acquired a new stake in shares of Cummins in the fourth quarter valued at about $55,000. Institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $348.27 on Tuesday. The business’s 50 day moving average is $363.94 and its 200-day moving average is $331.60. The firm has a market cap of $47.78 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. Cummins Inc. has a 1-year low of $236.00 and a 1-year 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 posted its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter last year, the firm earned $4.73 earnings per share. The company’s revenue was up .3% on a year-over-year basis. Equities research analysts predict that Cummins Inc. will post 21.92 earnings per share for the current year.

Insider Transactions at Cummins

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 transaction of $57,840.48. Following the transaction, the vice president now owns 20,803 shares in the company, valued at $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 available at the SEC website. Over the last ninety days, insiders have sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. The Goldman Sachs Group increased their price target on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Robert W. Baird raised their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Citigroup decreased their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and upped their target price for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. 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 company has an average rating of “Moderate Buy” and an average price target 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.