Cummins Inc. (NYSE:CMI) Stock Holdings Trimmed by Barlow Wealth Partners Inc.

Barlow Wealth Partners Inc. lowered its holdings in shares of Cummins Inc. (NYSE:CMI) by 18.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,266 shares of the company’s stock after selling 10,521 shares during the period. Cummins makes up 2.0% of Barlow Wealth Partners Inc.’s holdings, making the stock its 20th largest position. Barlow Wealth Partners Inc.’s holdings in Cummins were worth $15,347,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Cummins in the second quarter valued at $28,000. Cultivar Capital Inc. acquired a new stake in shares of Cummins in the second quarter valued at $28,000. Lynx Investment Advisory acquired a new stake in shares of Cummins in the second quarter valued at $29,000. LRI Investments LLC acquired a new stake in shares of Cummins in the first quarter valued at $31,000. Finally, Quarry LP lifted its holdings in shares of Cummins by 258.5% in the fourth quarter. Quarry LP now owns 147 shares of the company’s stock valued at $35,000 after buying an additional 106 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Up 1.1 %

NYSE:CMI traded up $3.64 during trading hours on Wednesday, hitting $333.25. 24,037 shares of the company’s stock traded hands, compared to its average volume of 1,595,830. The firm has a market cap of $45.58 billion, a P/E ratio of 24.12, a P/E/G ratio of 1.81 and a beta of 0.98. Cummins Inc. has a twelve month low of $212.80 and a twelve month high of $333.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.82 and a current ratio of 1.34. The stock’s fifty day moving average price is $306.06 and its two-hundred day moving average price is $292.54.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $5.26 earnings per share for the quarter, beating the consensus estimate of $4.85 by $0.41. The firm had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. Cummins’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $5.18 earnings per share. On average, research analysts expect that Cummins Inc. will post 19.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Citigroup assumed coverage on Cummins in a report on Wednesday, June 26th. They issued a “buy” rating and a $320.00 price objective for the company. Barclays upped their price objective on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Evercore ISI upped their price objective on Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Robert W. Baird upped their target price on Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their target price on Cummins from $275.00 to $285.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $299.55.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $300.35, for a total value of $1,435,673.00. Following the transaction, the vice president now directly owns 20,873 shares of the company’s stock, valued at $6,269,205.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total value of $7,474,820.00. Following the transaction, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at $23,870,722.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $300.35, for a total value of $1,435,673.00. Following the completion of the transaction, the vice president now directly owns 20,873 shares in the company, valued at approximately $6,269,205.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.