Cummins Inc. $CMI Stock Holdings Decreased by Securian Asset Management Inc.

Securian Asset Management Inc. lowered its stake in Cummins Inc. (NYSE:CMI) by 43.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,807 shares of the company’s stock after selling 2,924 shares during the period. Securian Asset Management Inc.’s holdings in Cummins were worth $1,943,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thompson Investment Management Inc. bought a new stake in shares of Cummins in the 4th quarter worth about $26,000. Activest Wealth Management increased its position in shares of Cummins by 537.5% in the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after purchasing an additional 43 shares during the last quarter. Flagship Wealth Advisors LLC bought a new stake in shares of Cummins in the 3rd quarter worth about $28,000. Ares Financial Consulting LLC bought a new stake in shares of Cummins in the 4th quarter worth about $29,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Cummins in the 2nd quarter worth about $31,000. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In other Cummins news, VP Amy Rochelle Davis sold 4,054 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total value of $2,275,672.36. Following the completion of the transaction, the vice president owned 15,807 shares in the company, valued at approximately $8,873,101.38. This represents a 20.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Bonnie J. Fetch sold 652 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $700.19, for a total transaction of $456,523.88. Following the completion of the transaction, the executive vice president owned 11,679 shares of the company’s stock, valued at approximately $8,177,519.01. This trade represents a 5.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 34,073 shares of company stock worth $20,794,687. 0.30% of the stock is owned by company insiders.

Cummins Price Performance

Shares of NYSE:CMI opened at $701.70 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. Cummins Inc. has a fifty-two week low of $307.90 and a fifty-two week high of $718.08. The firm has a 50-day simple moving average of $590.90 and a 200 day simple moving average of $547.40. The company has a market cap of $96.83 billion, a PE ratio of 36.41, a P/E/G ratio of 1.71 and a beta of 1.27.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the firm earned $5.96 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Cummins Inc. will post 28.39 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CMI. JPMorgan Chase & Co. boosted their target price on shares of Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Argus set a $696.00 target price on shares of Cummins in a research report on Tuesday, February 10th. UBS Group set a $565.00 target price on shares of Cummins and gave the stock a “neutral” rating in a research report on Friday, February 6th. Sanford C. Bernstein set a $600.00 price objective on shares of Cummins and gave the company a “market perform” rating in a research report on Friday, February 6th. Finally, Weiss Ratings downgraded shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and a consensus target price of $677.87.

More Cummins News

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Cummins reported strong fiscal Q1 results last week, with EPS of $6.15 beating estimates by $0.52 and revenue of $8.40 billion slightly ahead of expectations, reinforcing confidence in the company’s earnings power. Cummins insider trades and earnings update
• Positive Sentiment: Several analysts raised their price targets after the earnings report, including Barclays and Citigroup, and Zacks upgraded the stock to a strong-buy rating, which may be helping investor sentiment. Wells Fargo remains a buy on Cummins
• Neutral Sentiment: Institutional ownership remains high, and recent buying by some funds suggests continued long-term interest in the stock, though this is less likely to drive the shares in the short term.
• Negative Sentiment: Multiple Cummins executives sold shares this week, including VP Nathan Stoner, EVP Bonnie Fetch, and VP Marvin Boakye. While these sales were relatively small versus their holdings, insider selling can sometimes weigh on market sentiment. Nathan Stoner sold shares Bonnie Fetch sold shares

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.