Goelzer Investment Management Inc. Buys 160 Shares of Cummins Inc. (NYSE:CMI)

Goelzer Investment Management Inc. boosted its stake in Cummins Inc. (NYSE:CMI) by 4.5% in the fourth quarter, HoldingsChannel reports. The firm owned 3,699 shares of the company’s stock after acquiring an additional 160 shares during the period. Goelzer Investment Management Inc.’s holdings in Cummins were worth $1,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP increased its position in Cummins by 158.8% during the second quarter. Marshall Wace LLP now owns 54,289 shares of the company’s stock valued at $15,034,000 after acquiring an additional 33,314 shares during the last quarter. MBB Public Markets I LLC bought a new position in shares of Cummins in the 2nd quarter worth approximately $2,797,000. Marshfield Associates boosted its holdings in shares of Cummins by 0.3% in the second quarter. Marshfield Associates now owns 1,042,498 shares of the company’s stock worth $288,699,000 after buying an additional 3,076 shares during the last quarter. Legal & General Group Plc grew 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 buying an additional 31,190 shares during the period. Finally, Scientech Research LLC purchased a new stake in Cummins during the second quarter valued at approximately $3,025,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Down 0.4 %

NYSE CMI opened at $367.45 on Friday. Cummins Inc. has a 12 month low of $236.00 and a 12 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 stock has a market cap of $50.41 billion, a PE ratio of 24.27, a P/E/G ratio of 1.69 and a beta of 1.01. The stock’s 50 day moving average is $363.83 and its 200 day moving average is $330.09.

Cummins (NYSE:CMI) last released its 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. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the firm earned $4.73 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. Research analysts predict that Cummins Inc. will post 21.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Robert W. Baird lifted their target price on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their price target on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $420.00 in a research note 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’s stock. According to data from MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and an average price target of $374.25.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 162 shares of the firm’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 transaction, the vice president now owns 20,803 shares in the company, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 6,489 shares of company stock worth $2,357,531 in the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

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.