Donoghue Forlines LLC Buys New Shares in Cummins Inc. $CMI

Donoghue Forlines LLC purchased a new position in Cummins Inc. (NYSE:CMI) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,357 shares of the company’s stock, valued at approximately $2,263,000. Cummins comprises 0.7% of Donoghue Forlines LLC’s investment portfolio, making the stock its 27th largest position.

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

Insider Buying and Selling

In other news, CFO Mark Andrew Smith sold 13,110 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $470.66, for a total value of $6,170,352.60. Following the completion of the sale, the chief financial officer directly owned 31,582 shares in the company, valued at approximately $14,864,384.12. This trade represents a 29.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Brett Michael Merritt sold 1,450 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total transaction of $709,514.00. Following the transaction, the insider owned 9,271 shares in the company, valued at approximately $4,536,485.72. This trade represents a 13.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,330 shares of company stock worth $9,135,364 in the last three months. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

CMI has been the subject of several research reports. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $475.00 target price on shares of Cummins in a research report on Friday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a report on Wednesday. Wells Fargo & Company initiated coverage on shares of Cummins in a research report on Thursday, November 13th. They set an “overweight” rating and a $599.00 target price on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a research report on Monday, December 29th. Finally, Citigroup raised their price target on shares of Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $513.07.

Cummins Trading Up 0.9%

Shares of Cummins stock opened at $580.15 on Friday. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $583.08. The stock has a market capitalization of $80.08 billion, a P/E ratio of 30.11, a price-to-earnings-growth ratio of 2.02 and a beta of 1.12. The company has a 50-day simple moving average of $510.68 and a 200 day simple moving average of $436.88. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 0.52.

Cummins (NYSE:CMI) last released its quarterly earnings results on Thursday, November 6th. The company reported $5.59 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 net margin of 7.95% and a return on equity of 26.02%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $5.86 earnings per share. Research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

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.