Field & Main Bank Has $871,000 Stake in Cummins Inc. (NYSE:CMI)

Field & Main Bank lifted its position in shares of Cummins Inc. (NYSE:CMI) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,498 shares of the company’s stock after buying an additional 38 shares during the period. Field & Main Bank’s holdings in Cummins were worth $871,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Global Trust Asset Management LLC raised its position in 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 acquiring an additional 28 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Cummins during the third quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new stake in Cummins in the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Cummins during the 3rd quarter worth approximately $55,000. Finally, Friedenthal Financial acquired a new stake in Cummins during the 4th quarter valued at $55,000. 83.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 6,489 shares of company stock valued at $2,357,531. Company insiders own 0.56% of the company’s stock.

Cummins Stock Performance

Shares of Cummins stock opened at $352.57 on Wednesday. Cummins Inc. has a 52 week low of $236.00 and a 52 week high of $387.90. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $363.40 and a 200-day moving average price of $332.55. The company has a market cap of $48.37 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The firm had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.73 EPS. Equities analysts anticipate that Cummins Inc. will post 21.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CMI has been the subject of several research reports. Citigroup dropped their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Robert W. Baird boosted 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. Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research note on Wednesday, November 6th. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cummins has an average rating of “Moderate Buy” and an average price target of $374.25.

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.