Carr Financial Group Corp Sells 97 Shares of Cummins Inc. (NYSE:CMI)

Carr Financial Group Corp decreased its position in shares of Cummins Inc. (NYSE:CMI) by 8.1% in the 4th quarter, Holdings Channel reports. The firm owned 1,095 shares of the company’s stock after selling 97 shares during the quarter. Carr Financial Group Corp’s holdings in Cummins were worth $382,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP increased its stake in shares of Cummins by 158.8% in the 2nd quarter. Marshall Wace LLP now owns 54,289 shares of the company’s stock valued at $15,034,000 after acquiring an additional 33,314 shares in the last quarter. MBB Public Markets I LLC bought a new stake in shares of Cummins in the 2nd quarter valued at $2,797,000. Marshfield Associates increased its stake in shares of Cummins by 0.3% in the 2nd quarter. Marshfield Associates now owns 1,042,498 shares of the company’s stock valued at $288,699,000 after acquiring an additional 3,076 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Cummins by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock valued at $468,503,000 after acquiring an additional 31,190 shares in the last quarter. Finally, Scientech Research LLC bought a new stake in shares of Cummins in the 2nd quarter valued at $3,025,000. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

In related 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 value of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CMI shares. Jefferies Financial Group lifted their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Citigroup decreased their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Truist Financial boosted their price target on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $374.25.

Cummins Price Performance

CMI opened at $367.45 on Friday. The firm’s fifty day moving average price is $363.83 and its two-hundred day moving average price is $330.09. 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 company has a market capitalization of $50.41 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 1.69 and a beta of 1.01. Cummins Inc. has a 1 year low of $236.00 and a 1 year high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.73 EPS. As a group, analysts anticipate that Cummins Inc. will post 21.92 earnings per share for the current fiscal year.

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.