Whitener Capital Management Inc. Sells 142 Shares of Cummins Inc. (NYSE:CMI)

Whitener Capital Management Inc. trimmed its stake in shares of Cummins Inc. (NYSE:CMI) by 2.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,777 shares of the company’s stock after selling 142 shares during the quarter. Whitener Capital Management Inc.’s holdings in Cummins were worth $1,665,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Merit Financial Group LLC boosted its position in Cummins by 177.5% during the fourth quarter. Merit Financial Group LLC now owns 12,835 shares of the company’s stock valued at $4,474,000 after acquiring an additional 8,209 shares during the last quarter. Relyea Zuckerberg Hanson LLC bought a new stake in Cummins in the fourth quarter worth approximately $219,000. Avanza Fonder AB bought a new position in shares of Cummins during the 4th quarter worth approximately $84,000. Occidental Asset Management LLC grew its position in shares of Cummins by 5.0% during the 4th quarter. Occidental Asset Management LLC now owns 13,863 shares of the company’s stock worth $4,833,000 after buying an additional 654 shares during the period. Finally, Cvfg LLC bought a new position in Cummins during the fourth quarter worth $479,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Price Performance

Shares of NYSE CMI opened at $365.98 on Friday. The firm has a market cap of $50.21 billion, a P/E ratio of 24.17, a PEG ratio of 1.61 and a beta of 1.01. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a twelve month low of $226.52 and a twelve month high of $387.90. The company has a 50 day moving average of $363.14 and a 200 day moving average of $326.73.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter last year, the business earned $4.73 EPS. The firm’s revenue was up .3% compared to the same quarter last year. As a group, research analysts expect that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Insider Activity at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was 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 of the company’s stock, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CMI has been the topic of several research reports. Robert W. Baird upped their price objective on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Citigroup decreased their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, Bank of America upgraded 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. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $374.25.

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.