Cummins Inc. (NYSE:CMI) Shares Sold by OLD Second National Bank of Aurora

OLD Second National Bank of Aurora reduced its stake in shares of Cummins Inc. (NYSE:CMI) by 5.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 15,937 shares of the company’s stock after selling 948 shares during the quarter. Cummins makes up about 1.3% of OLD Second National Bank of Aurora’s holdings, making the stock its 20th largest position. OLD Second National Bank of Aurora’s holdings in Cummins were worth $5,556,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CMI. Ascent Group LLC grew its holdings in Cummins by 6.8% during the 2nd quarter. Ascent Group LLC now owns 1,280 shares of the company’s stock worth $354,000 after acquiring an additional 82 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Cummins by 442.9% in the 2nd quarter. NewEdge Advisors LLC now owns 22,080 shares of the company’s stock worth $6,115,000 after buying an additional 18,013 shares during the last quarter. Quarry LP bought a new position in shares of Cummins in the 2nd quarter worth about $88,000. EP Wealth Advisors LLC lifted its position in shares of Cummins by 1.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after buying an additional 35 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Cummins by 3.4% in the 2nd quarter. Cetera Investment Advisers now owns 56,934 shares of the company’s stock worth $15,767,000 after buying an additional 1,888 shares during the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Up 1.2 %

Cummins stock opened at $354.31 on Thursday. The firm has a market cap of $48.60 billion, a PE ratio of 23.40, a P/E/G ratio of 1.69 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The firm’s 50 day moving average price is $363.40 and its two-hundred day moving average price is $332.55. Cummins Inc. has a twelve month low of $236.00 and a twelve month high of $387.90.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on CMI. Jefferies Financial Group raised their price target 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. Citigroup reduced their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Truist Financial raised their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and an average target price of $374.25.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 6,490 shares of company stock valued at $2,357,880 over the last ninety days. Corporate 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.