Edmp Inc. Sells 92 Shares of Cummins Inc. (NYSE:CMI)

Edmp Inc. trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,714 shares of the company’s stock after selling 92 shares during the period. Cummins comprises 1.9% of Edmp Inc.’s portfolio, making the stock its 18th largest position. Edmp Inc.’s holdings in Cummins were worth $1,992,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC increased its stake in shares of Cummins by 31,489.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after buying an additional 2,523,854 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Cummins by 38,765.8% during the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock valued at $315,616,000 after purchasing an additional 972,247 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Cummins by 5.8% during the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after buying an additional 165,398 shares during the period. 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. Finally, abrdn plc lifted its holdings in Cummins by 22.5% in the third quarter. abrdn plc now owns 611,810 shares of the company’s stock worth $198,119,000 after buying an additional 112,529 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. The Goldman Sachs Group lifted their price objective on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research note on Wednesday, November 6th. Citigroup lowered their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Robert W. Baird lifted their target price on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $383.08.

Cummins Price Performance

Shares of NYSE:CMI opened at $373.98 on Tuesday. The firm’s 50 day moving average price is $361.82 and its 200-day moving average price is $336.52. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $51.30 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. Cummins Inc. has a twelve month low of $250.90 and a twelve month high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter last year, the company posted $4.14 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts expect that Cummins Inc. will post 22.57 EPS for the current year.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 4,327 shares of company stock valued at $1,582,821 over the last ninety days. 0.56% of the stock is currently owned by company insiders.

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.