Csenge Advisory Group Boosts Holdings in Cummins Inc. $CMI

Csenge Advisory Group raised its position in Cummins Inc. (NYSE:CMI) by 37.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,090 shares of the company’s stock after buying an additional 1,650 shares during the quarter. Csenge Advisory Group’s holdings in Cummins were worth $2,572,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Osterweis Capital Management Inc. acquired a new stake in Cummins in the second quarter valued at about $31,000. Salomon & Ludwin LLC raised its stake in shares of Cummins by 1,333.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after buying an additional 80 shares in the last quarter. Tripletail Wealth Management LLC purchased a new position in shares of Cummins during the 3rd quarter worth approximately $39,000. CNB Bank acquired a new stake in shares of Cummins in the 2nd quarter valued at approximately $43,000. Finally, SJS Investment Consulting Inc. boosted its stake in shares of Cummins by 1,414.3% in the third quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $45,000 after buying an additional 99 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity at Cummins

In other news, insider Brett Michael Merritt sold 1,450 shares of Cummins stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $489.32, for a total transaction of $709,514.00. Following the completion of the sale, the insider directly owned 9,271 shares in the company, valued at $4,536,485.72. The trade was a 13.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jennifer Rumsey sold 4,570 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $473.89, for a total transaction of $2,165,677.30. Following the completion of the transaction, the chief executive officer directly owned 42,880 shares of the company’s stock, valued at approximately $20,320,403.20. This represents a 9.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,330 shares of company stock valued at $9,135,364 over the last quarter. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group upgraded Cummins from a “sell” rating to a “neutral” rating in a research report on Tuesday, November 25th. JPMorgan Chase & Co. upped their price target on shares of Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup raised their price objective on shares of Cummins from $580.00 to $630.00 and gave the company a “buy” rating in a research note on Tuesday. Raymond James Financial upgraded shares of Cummins from a “market perform” rating to an “outperform” rating and set a $585.00 target price on the stock in a research report on Monday, December 22nd. Finally, Wall Street Zen upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $513.07.

Cummins Stock Up 0.9%

Shares of NYSE CMI opened at $580.15 on Friday. The firm’s 50-day moving average is $510.68 and its two-hundred day moving average is $436.88. The company has a market capitalization of $80.08 billion, a PE ratio of 30.11, a price-to-earnings-growth ratio of 2.02 and a beta of 1.12. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $583.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.77 and a quick ratio of 1.11.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, November 6th. The company reported $5.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.76. The firm had revenue of $8.32 billion for the quarter, compared to analyst estimates of $7.97 billion. Cummins had a return on equity of 26.02% and a net margin of 7.95%.Cummins’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.86 EPS. Equities analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins 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.