Cummins Inc. (NYSE:CMI) Shares Purchased by UMB Bank n.a.

UMB Bank n.a. raised its position in Cummins Inc. (NYSE:CMI) by 3.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,079 shares of the company’s stock after purchasing an additional 63 shares during the period. UMB Bank n.a.’s holdings in Cummins were worth $725,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in Cummins in the 3rd quarter valued at about $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Cummins in the third quarter valued at about $34,000. Friedenthal Financial acquired a new stake in shares of Cummins in the fourth quarter valued at approximately $55,000. Ashton Thomas Securities LLC purchased a new position in shares of Cummins during the 3rd quarter worth approximately $55,000. Finally, Bangor Savings Bank raised 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 last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction 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 approximately $7,678,803.36. This represents a 9.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is currently owned by corporate insiders.

Cummins Stock Up 0.2 %

Shares of NYSE CMI opened at $367.18 on Wednesday. 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 $50.37 billion, a PE ratio of 24.25, a P/E/G ratio of 1.69 and a beta of 1.01. The firm has a fifty day moving average of $363.49 and a 200-day moving average of $328.85. Cummins Inc. has a 52-week low of $229.50 and a 52-week high of $387.90.

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

Wall Street Analyst Weigh In

CMI has been the topic of a number of analyst reports. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a report on Wednesday, November 6th. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. The Goldman Sachs Group boosted their target price on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Finally, Robert W. Baird boosted their price objective on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus 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.