Cummins Inc. (NYSE:CMI) Shares Bought by Czech National Bank

Czech National Bank lifted its holdings in shares of Cummins Inc. (NYSE:CMI) by 6.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,744 shares of the company’s stock after purchasing an additional 1,826 shares during the quarter. Czech National Bank’s holdings in Cummins were worth $10,369,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Chicago Capital LLC lifted its holdings in Cummins by 0.9% during the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after buying an additional 30 shares in the last quarter. Equitable Trust Co. raised its stake in shares of 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 acquiring an additional 32 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings 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. Bangor Savings Bank grew its stake in Cummins by 24.6% during the 4th quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after purchasing an additional 35 shares in the last quarter. Finally, Graypoint LLC raised its position in Cummins by 2.0% in the 4th quarter. Graypoint LLC now owns 1,874 shares of the company’s stock valued at $653,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $360.80 on Tuesday. The stock has a market cap of $49.49 billion, a P/E ratio of 23.83, a P/E/G ratio of 1.78 and a beta of 0.99. Cummins Inc. has a twelve month low of $226.52 and a twelve month high of $387.90. The stock has a 50 day moving average of $362.62 and a two-hundred day moving average of $325.60. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share 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 during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the prior year, the business earned $4.73 EPS. Cummins’s quarterly revenue was up .3% compared to the same quarter last year. On average, research analysts forecast that Cummins Inc. will post 20.75 earnings per share for the current year.

Insider Buying and Selling

In other Cummins 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 value of $798,406.56. Following the transaction, the vice president now directly owns 20,803 shares in the company, 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 SEC, which can be accessed through this hyperlink. Insiders have sold a total of 6,489 shares of company stock valued at $2,357,531 over the last quarter. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on CMI shares. Citigroup upped their target price on shares of Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. The Goldman Sachs Group increased their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird lifted their price target on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $363.50.

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.