GSB Wealth Management LLC Reduces Stock Position in Cummins Inc. (NYSE:CMI)

GSB Wealth Management LLC lessened its holdings in Cummins Inc. (NYSE:CMI) by 4.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,895 shares of the company’s stock after selling 454 shares during the quarter. GSB Wealth Management LLC’s holdings in Cummins were worth $3,101,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CMI. Global Trust Asset Management LLC boosted its stake in shares of Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares during the period. Chicago Capital LLC boosted its stake in shares of Cummins by 0.9% during the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after buying an additional 30 shares during the period. Equitable Trust Co. lifted its position in Cummins by 3.6% in the third quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after purchasing an additional 32 shares during the period. EP Wealth Advisors LLC lifted its position in Cummins by 1.9% in the second quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock valued at $520,000 after purchasing an additional 35 shares during the period. Finally, Bangor Savings Bank lifted its position in 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 purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Truist Financial raised their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Robert W. Baird raised 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. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and increased their target price for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Jefferies Financial Group increased their target price 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 investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cummins presently has a consensus rating of “Moderate Buy” and a consensus target price of $374.25.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 2,001 shares of Cummins stock in a transaction on Monday, November 11th. The shares were sold at an average price of $358.43, for a total value of $717,218.43. Following the transaction, the vice president now owns 20,803 shares in the company, valued at $7,456,419.29. This trade represents a 8.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is owned by insiders.

Cummins Stock Down 0.4 %

Shares of NYSE CMI opened at $367.45 on Friday. Cummins Inc. has a 1 year low of $236.00 and a 1 year high of $387.90. The firm’s 50 day moving average price is $363.94 and its 200 day moving average price is $330.77. The firm has a market cap of $50.41 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $8.29 billion. During the same quarter last year, the business earned $4.73 earnings per share. Cummins’s revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cummins Inc. will post 21.92 earnings per share for the current year.

Cummins 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.