Barlow Wealth Partners Inc. Has $17.11 Million Stock Position in Cummins Inc. (NYSE:CMI)

Barlow Wealth Partners Inc. raised its position in Cummins Inc. (NYSE:CMI) by 2.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 47,428 shares of the company’s stock after purchasing an additional 1,162 shares during the quarter. Cummins accounts for 2.2% of Barlow Wealth Partners Inc.’s investment portfolio, making the stock its 19th largest holding. Barlow Wealth Partners Inc.’s holdings in Cummins were worth $17,112,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CMI. Prospera Private Wealth LLC acquired a new position in shares of Cummins in the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cummins during the third quarter worth $34,000. Friedenthal Financial bought a new stake in shares of Cummins during the fourth quarter worth $55,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cummins in the third quarter valued at $55,000. Finally, Bangor Savings Bank raised its holdings in shares of Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after buying an additional 35 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Stock Performance

Shares of CMI opened at $367.18 on Wednesday. The firm has a market cap of $50.37 billion, a P/E ratio of 24.25, a PEG ratio of 1.69 and a beta of 1.01. Cummins Inc. has a twelve month low of $229.50 and a twelve month high of $387.90. 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 $363.49 and its two-hundred day moving average price is $328.85.

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

Insider Transactions at Cummins

In other Cummins 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 value of $57,840.48. Following the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 6,489 shares of company stock valued at $2,357,531 over the last three months. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CMI. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a research note on Wednesday, November 6th. Jefferies Financial Group upped their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and raised their price target for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cummins presently has an average rating of “Moderate Buy” and a consensus 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.