Patton Albertson Miller Group LLC Buys 123 Shares of Cummins Inc. (NYSE:CMI)

Patton Albertson Miller Group LLC grew its stake in shares of Cummins Inc. (NYSE:CMI) by 0.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,368 shares of the company’s stock after acquiring an additional 123 shares during the period. Cummins comprises approximately 1.1% of Patton Albertson Miller Group LLC’s investment portfolio, making the stock its 27th biggest holding. Patton Albertson Miller Group LLC’s holdings in Cummins were worth $8,495,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CMI. Global Trust Asset Management LLC increased its position in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Prospera Private Wealth LLC purchased a new position in Cummins during the third quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. bought a new position in Cummins in the third quarter worth approximately $34,000. Friedenthal Financial purchased a new stake in Cummins during the fourth quarter worth $55,000. Finally, Ashton Thomas Securities LLC bought a new stake in Cummins during the 3rd quarter valued at $55,000. Institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group upped their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a research report on Wednesday, November 6th. 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 research report on Wednesday, November 6th. Finally, Robert W. Baird lifted 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 research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $374.25.

Cummins Stock Performance

Shares of CMI stock opened at $367.45 on Friday. The business has a fifty day moving average of $363.94 and a 200 day moving average of $330.77. Cummins Inc. has a 1 year low of $236.00 and a 1 year high of $387.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The firm has a market capitalization of $50.41 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01.

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, topping the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion during 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 company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the business posted $4.73 earnings per share. As a group, research analysts expect that Cummins Inc. will post 21.92 earnings per share for the current year.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 6,489 shares of company stock worth $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.