Allen Mooney & Barnes Investment Advisors LLC Has $13 Million Stake in Cummins Inc. (NYSE:CMI)

Allen Mooney & Barnes Investment Advisors LLC cut its stake in Cummins Inc. (NYSE:CMI) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 37,303 shares of the company’s stock after selling 1,040 shares during the quarter. Cummins comprises 2.2% of Allen Mooney & Barnes Investment Advisors LLC’s investment portfolio, making the stock its 14th largest position. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Cummins were worth $13,004,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CMI. Prospera Private Wealth LLC bought a new stake in Cummins in the 3rd quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Cummins in the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Cummins during the third quarter valued at approximately $55,000. Friedenthal Financial bought a new stake in Cummins during the fourth quarter worth $55,000. Finally, Bangor Savings Bank boosted its position in Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after purchasing an additional 35 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CMI shares. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and raised their target price for the company from $354.00 to $358.00 in a research report on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research note on Wednesday, November 6th. Finally, Citigroup lowered their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $374.17.

Cummins Trading Up 0.8 %

Shares of Cummins stock opened at $364.06 on Wednesday. The company’s 50-day moving average price is $362.81 and its 200-day moving average price is $326.21. The company has a market cap of $49.94 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 1.78 and a beta of 0.99. Cummins Inc. has a 12-month low of $226.52 and a 12-month high of $387.90. 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 announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm earned $4.73 EPS. On average, equities analysts expect that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total value of $784,065.87. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,540,879.47. This trade represents a 9.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders sold 6,489 shares of company stock valued at $2,357,531. Company insiders own 0.56% of the company’s stock.

Cummins Company Profile

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.