Cummins Inc. (NYSE:CMI) Shares Purchased by Armstrong Advisory Group Inc.

Armstrong Advisory Group Inc. raised its position in Cummins Inc. (NYSE:CMI) by 54.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 566 shares of the company’s stock after buying an additional 200 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in Cummins were worth $197,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. PFG Investments LLC increased its stake in shares of Cummins by 27.7% during the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after acquiring an additional 485 shares during the period. CWM LLC increased its position in Cummins by 17.4% during the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after purchasing an additional 1,786 shares during the period. Distillate Capital Partners LLC raised its stake in shares of Cummins by 109,309.3% during the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock worth $16,361,000 after buying an additional 59,027 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new stake in shares of Cummins in the 3rd quarter valued at approximately $748,000. Finally, Franklin Resources Inc. boosted its stake in shares of Cummins by 74.2% in the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after buying an additional 99,464 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Jefferies Financial Group increased their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup cut their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday. StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Tuesday. The Goldman Sachs Group increased their target price on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $354.00 to $358.00 in a research note on Tuesday. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cummins has an average rating of “Hold” and an average target price of $374.25.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 over the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Cummins Price Performance

Shares of NYSE:CMI opened at $366.55 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The business’s fifty day moving average price is $362.91 and its two-hundred day moving average price is $326.45. The stock has a market cap of $50.28 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. Cummins Inc. has a one year low of $226.52 and a one year high of $387.90.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the company earned $4.73 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. On average, analysts forecast that Cummins Inc. will post 20.75 EPS for the current fiscal year.

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.