MassMutual Private Wealth & Trust FSB Has $2.92 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

MassMutual Private Wealth & Trust FSB reduced its stake in Cummins Inc. (NYSE:CMI) by 21.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,367 shares of the company’s stock after selling 2,280 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Cummins were worth $2,917,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Seven Eight Capital LP bought a new stake in shares of Cummins in the 2nd quarter valued at $479,000. Ieq Capital LLC lifted its holdings in Cummins by 13.9% in the second quarter. Ieq Capital LLC now owns 7,078 shares of the company’s stock valued at $1,960,000 after buying an additional 865 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in Cummins by 244.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,034 shares of the company’s stock valued at $1,671,000 after acquiring an additional 4,283 shares during the last quarter. Hancock Whitney Corp grew its holdings in Cummins by 7.5% during the 2nd quarter. Hancock Whitney Corp now owns 5,988 shares of the company’s stock worth $1,658,000 after acquiring an additional 420 shares during the period. Finally, Frank Rimerman Advisors LLC raised its position in shares of Cummins by 26,576.9% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 3,468 shares of the company’s stock worth $960,000 after acquiring an additional 3,455 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Performance

Shares of Cummins stock opened at $365.98 on Tuesday. The company has a market cap of $50.21 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 52 week low of $226.52 and a 52 week high of $387.90. The business has a 50 day moving average price of $363.33 and a 200-day moving average price of $328.19.

Cummins (NYSE:CMI) last issued 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. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period last year, the business earned $4.73 EPS. The business’s revenue was up .3% on a year-over-year basis. Equities analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

CMI has been the subject of several recent analyst reports. Robert W. Baird raised their target price on Cummins from $330.00 to $372.00 and gave the stock 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 objective for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. 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 report on Wednesday, November 6th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a report on Wednesday, November 6th. Finally, Jefferies Financial Group upped their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $374.25.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction that occurred 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 transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is 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.