SG Americas Securities LLC Trims Stake in Cummins Inc. (NYSE:CMI)

SG Americas Securities LLC lowered its holdings in Cummins Inc. (NYSE:CMI) by 95.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,163 shares of the company’s stock after selling 44,146 shares during the period. SG Americas Securities LLC’s holdings in Cummins were worth $754,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Trust Asset Management LLC grew 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 valued at $26,000 after acquiring an additional 28 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Cummins in the third quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Cummins in the third quarter worth $34,000. Friedenthal Financial bought a new stake in Cummins during the 4th quarter valued at $55,000. Finally, Ashton Thomas Securities LLC bought a new stake in Cummins in the 3rd quarter worth $55,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Up 1.2 %

Cummins stock opened at $354.31 on Thursday. Cummins Inc. has a 12 month low of $236.00 and a 12 month high of $387.90. The stock has a fifty day simple moving average of $363.40 and a two-hundred day simple moving average of $332.55. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a market cap of $48.60 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 1.69 and a beta of 1.01.

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

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 2,001 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $7,456,419.29. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 6,490 shares of company stock worth $2,357,880. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CMI shares. Truist Financial upped their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and raised their target price for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Jefferies Financial Group raised their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, The Goldman Sachs Group increased their price target on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Eight research 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. According to data from MarketBeat, Cummins presently has an average rating of “Moderate Buy” and an average target price of $374.25.

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.