Hennion & Walsh Asset Management Inc. Has $462,000 Stake in Cummins Inc. (NYSE:CMI)

Hennion & Walsh Asset Management Inc. trimmed its stake in Cummins Inc. (NYSE:CMI) by 51.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,324 shares of the company’s stock after selling 1,422 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Cummins were worth $462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Chicago Capital LLC lifted its position in Cummins by 0.9% in the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after buying an additional 30 shares in the last quarter. Equitable Trust Co. raised its holdings in shares of Cummins by 3.6% during the third quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after acquiring an additional 32 shares in the last quarter. EP Wealth Advisors LLC boosted its position in Cummins by 1.9% during the second quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock valued at $520,000 after purchasing an additional 35 shares during the last quarter. Bangor Savings Bank grew its stake in Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after purchasing an additional 35 shares in the last quarter. Finally, Graypoint LLC increased its position in Cummins by 2.0% in the 4th quarter. Graypoint LLC now owns 1,874 shares of the company’s stock worth $653,000 after purchasing an additional 36 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Price Performance

NYSE CMI opened at $365.98 on Tuesday. The stock has a market capitalization of $50.21 billion, a PE ratio of 24.17, a P/E/G ratio of 1.61 and a beta of 1.01. The stock has a 50-day simple moving average of $363.33 and a 200 day simple moving average of $328.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. Cummins Inc. has a twelve month low of $226.52 and a twelve month high of $387.90.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the business earned $4.73 earnings per share. Cummins’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts anticipate that Cummins Inc. will post 20.75 EPS for the current year.

Insider Buying and Selling

In other news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction that occurred 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. This represents a 9.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 6,489 shares of company stock valued at $2,357,531 over the last three months. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CMI has been the subject of several research reports. Jefferies Financial Group lifted their price target on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. The Goldman Sachs Group lifted their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI raised shares of 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 research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently 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.