Global Trust Asset Management LLC grew its holdings in Cummins Inc. (NYSE:CMI – Free Report) by 59.6% in the 4th quarter, HoldingsChannel reports. The firm owned 75 shares of the company’s stock after buying an additional 28 shares during the quarter. Global Trust Asset Management LLC’s holdings in Cummins were worth $26,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the business. State Street Corp raised its stake in Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after buying an additional 126,703 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after acquiring an additional 165,398 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of Cummins by 31,489.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after purchasing an additional 2,523,854 shares during the last quarter. Legal & General Group Plc boosted its position in Cummins by 1.9% during the second quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock valued at $468,503,000 after purchasing an additional 31,190 shares in the last quarter. Finally, FMR LLC grew its stake in Cummins by 0.8% in the third quarter. FMR LLC now owns 1,175,096 shares of the company’s stock valued at $380,484,000 after purchasing an additional 9,245 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.
Cummins Price Performance
Shares of NYSE:CMI opened at $365.76 on Thursday. Cummins Inc. has a twelve month low of $234.04 and a twelve month high of $387.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market cap of $50.17 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The company’s 50 day moving average is $363.73 and its 200 day moving average is $329.56.
Insider Buying and Selling at Cummins
In related news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 6,489 shares of company stock worth $2,357,531. Insiders own 0.56% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on CMI. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $355.00 to $420.00 in a report on Monday, December 9th. The Goldman Sachs Group increased their price objective on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Jefferies Financial Group boosted their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Robert W. Baird increased their price target on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cummins has a consensus rating of “Moderate Buy” and an average price target of $374.25.
Check Out Our Latest Research Report on Cummins
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.
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