Cardinal Capital Management Inc. Has $38.77 Million Position in Cummins Inc. (NYSE:CMI)

Cardinal Capital Management Inc. cut its position in shares of Cummins Inc. (NYSE:CMI) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,207 shares of the company’s stock after selling 1,090 shares during the period. Cummins accounts for 1.3% of Cardinal Capital Management Inc.’s portfolio, making the stock its 23rd largest holding. Cardinal Capital Management Inc. owned 0.08% of Cummins worth $38,767,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wesbanco Bank Inc. grew its position in shares of Cummins by 5.4% in the fourth quarter. Wesbanco Bank Inc. now owns 2,106 shares of the company’s stock valued at $734,000 after purchasing an additional 108 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Cummins by 9.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 42,985 shares of the company’s stock worth $14,985,000 after purchasing an additional 3,790 shares during the period. Global Trust Asset Management LLC lifted its position in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the period. Missouri Trust & Investment Co grew its stake in Cummins by 3.8% during the fourth quarter. Missouri Trust & Investment Co now owns 1,090 shares of the company’s stock worth $380,000 after buying an additional 40 shares in the last quarter. Finally, Dakota Wealth Management increased its holdings in Cummins by 9.1% in the 4th quarter. Dakota Wealth Management now owns 39,485 shares of the company’s stock valued at $13,764,000 after buying an additional 3,310 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Down 0.4 %

Shares of NYSE:CMI opened at $365.76 on Thursday. The company has a market capitalization of $50.17 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The business has a fifty day moving average price of $363.72 and a two-hundred day moving average price of $329.82. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins Inc. has a 1 year low of $234.04 and a 1 year high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted $4.73 EPS. Analysts forecast that Cummins Inc. will post 21.92 earnings per share for the current year.

Analysts Set New Price Targets

CMI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Jefferies Financial Group boosted their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. The Goldman Sachs Group lifted their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research note on Wednesday, November 6th. Finally, Robert W. Baird upped their price target on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $374.25.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total transaction of $784,065.87. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,540,879.47. This represents a 9.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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.

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.