Occidental Asset Management LLC Acquires 654 Shares of Cummins Inc. (NYSE:CMI)

Occidental Asset Management LLC increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,863 shares of the company’s stock after purchasing an additional 654 shares during the quarter. Occidental Asset Management LLC’s holdings in Cummins were worth $4,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC grew its holdings in shares of Cummins by 31,489.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after acquiring an additional 2,523,854 shares during the period. International Assets Investment Management LLC raised its stake in Cummins by 38,765.8% during the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after acquiring an additional 972,247 shares during the period. Fisher Asset Management LLC lifted its holdings in 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 purchasing an additional 165,398 shares in the last quarter. AXA S.A. boosted its position in shares of Cummins by 247.5% in the second quarter. AXA S.A. now owns 229,051 shares of the company’s stock worth $63,431,000 after purchasing an additional 163,129 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Cummins by 31.0% in the 2nd quarter. AQR Capital Management LLC now owns 616,876 shares of the company’s stock worth $170,831,000 after purchasing an additional 145,921 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Up 1.6 %

Shares of NYSE CMI opened at $366.55 on Friday. Cummins Inc. has a 52-week low of $226.52 and a 52-week high of $387.90. The firm has a market capitalization of $50.28 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.61 and a beta of 1.01. The stock has a 50 day moving average price of $362.91 and a 200 day moving average price of $326.45. 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 released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the company posted $4.73 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. Sell-side analysts expect that Cummins Inc. will post 20.75 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CMI. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a report on Wednesday, November 6th. Robert W. Baird lifted their price objective on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and increased their target price for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Finally, StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $374.25.

Insider Activity

In other Cummins news, VP Sharon R. Barner sold 162 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 6,489 shares of company stock worth $2,357,531. 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.