Cummins Inc. (NYSE:CMI) Shares Acquired by Wesbanco Bank Inc.

Wesbanco Bank Inc. increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,106 shares of the company’s stock after acquiring an additional 108 shares during the period. Wesbanco Bank Inc.’s holdings in Cummins were worth $734,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. PFG Investments LLC grew its stake in shares of Cummins by 27.7% during the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after purchasing an additional 485 shares during the period. CWM LLC grew its position in Cummins by 17.4% during the third quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after buying an additional 1,786 shares during the period. Alpha DNA Investment Management LLC purchased a new position in Cummins in the third quarter valued at about $748,000. Franklin Resources Inc. lifted its position in shares of Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after acquiring an additional 99,464 shares during the period. Finally, Dupree Financial Group LLC purchased a new stake in shares of Cummins during the 3rd quarter worth approximately $3,925,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CMI shares. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a report on Wednesday, November 6th. Robert W. Baird boosted their price objective on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Bank of America upgraded shares of 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 report on Tuesday, January 14th. The Goldman Sachs Group upped their price target 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, Jefferies Financial Group raised their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $374.25.

Cummins Stock Performance

NYSE CMI opened at $369.32 on Friday. Cummins Inc. has a twelve month low of $234.49 and a twelve month high of $387.90. The business’s 50-day moving average price is $363.72 and its 200 day moving average price is $329.82. The company has a market capitalization of $50.66 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. 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 posted 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. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the firm posted $4.73 earnings per share. Cummins’s revenue for the quarter was up .3% compared to the same quarter last year. On average, research analysts predict that Cummins Inc. will post 21.92 earnings per share for the current year.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was 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 in the company, valued at $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 6,489 shares of company stock valued at $2,357,531. Company insiders own 0.56% of the company’s stock.

Cummins 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.