Thurston Springer Miller Herd & Titak Inc. Grows Position in Cummins Inc. (NYSE:CMI)

Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Cummins Inc. (NYSE:CMI) by 18.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,238 shares of the company’s stock after purchasing an additional 356 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Cummins were worth $780,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Chicago Capital LLC lifted its position in Cummins by 0.9% in the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after buying an additional 30 shares during the last quarter. Equitable Trust Co. raised its stake in shares of Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after acquiring an additional 32 shares during the period. EP Wealth Advisors LLC lifted its holdings 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 acquiring an additional 35 shares during the last quarter. Bangor Savings Bank boosted its position in shares of Cummins by 24.6% during the 4th quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after purchasing an additional 35 shares during the period. Finally, Graypoint LLC increased its holdings in Cummins by 2.0% in the 4th quarter. Graypoint LLC now owns 1,874 shares of the company’s stock valued at $653,000 after purchasing an additional 36 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CMI shares. Citigroup lowered their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday. Jefferies Financial Group raised their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Finally, Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $374.17.

Cummins Trading Down 0.9 %

NYSE CMI opened at $360.80 on Thursday. Cummins Inc. has a 52 week low of $226.52 and a 52 week high of $387.90. The firm has a 50 day moving average of $362.81 and a two-hundred day moving average of $326.21. 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 capitalization of $49.49 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the firm posted $4.73 earnings per share. The company’s revenue was up .3% compared to the same quarter last year. As a group, research analysts expect that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Insider Activity

In related news, VP Sharon R. Barner sold 162 shares of the business’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 transaction of $57,840.48. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by insiders.

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.