Eukles Asset Management Has $3.77 Million Stake in Cummins Inc. (NYSE:CMI)

Eukles Asset Management trimmed its stake in shares of Cummins Inc. (NYSE:CMI) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,812 shares of the company’s stock after selling 472 shares during the quarter. Cummins makes up 1.6% of Eukles Asset Management’s holdings, making the stock its 19th biggest holding. Eukles Asset Management’s holdings in Cummins were worth $3,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Global Trust Asset Management LLC boosted its holdings 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 last quarter. Compass Financial Services Inc purchased a new stake in Cummins during the 4th quarter worth about $27,000. Prospera Private Wealth LLC bought a new position in shares of Cummins in the third quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Cummins during the 3rd quarter valued at $34,000. Finally, Ashton Thomas Securities LLC bought a new position in Cummins in the 3rd quarter worth about $55,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Trading Up 0.8 %

Shares of NYSE CMI opened at $372.12 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The firm has a market cap of $51.05 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The business has a fifty day simple moving average of $361.82 and a two-hundred day simple moving average of $336.13. Cummins Inc. has a twelve month low of $247.53 and a twelve month high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. Cummins’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.14 earnings per share. Analysts expect that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CMI has been the topic of several recent research reports. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Truist Financial increased their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Robert W. Baird lifted their price objective on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $383.08.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 4,327 shares of company stock worth $1,582,821 in the last three months. 0.56% of the stock is owned by insiders.

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.