Kathleen S. Wright Associates Inc. Invests $34,000 in Cummins Inc. (NYSE:CMI)

Kathleen S. Wright Associates Inc. bought a new stake in Cummins Inc. (NYSE:CMI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 105 shares of the company’s stock, valued at approximately $34,000.

A number of other large investors have also modified their holdings of the business. Quarry LP increased its holdings in 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 last quarter. V Square Quantitative Management LLC raised its stake in shares of Cummins by 35.6% during the fourth quarter. V Square Quantitative Management LLC now owns 2,398 shares of the company’s stock worth $574,000 after purchasing an additional 630 shares during the last quarter. Beacon Financial Group grew its position in Cummins by 7.0% in the 4th quarter. Beacon Financial Group now owns 1,933 shares of the company’s stock valued at $463,000 after buying an additional 126 shares during the last quarter. Centaurus Financial Inc. purchased a new position in Cummins during the 4th quarter worth $144,000. Finally, Syon Capital LLC boosted its stake in shares of Cummins by 41.4% in the fourth quarter. Syon Capital LLC now owns 3,299 shares of the company’s stock valued at $790,000 after buying an additional 966 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 0.4 %

Shares of CMI stock traded up $1.50 on Monday, reaching $337.57. 145,862 shares of the stock were exchanged, compared to its average volume of 1,578,653. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.51. The stock has a market cap of $46.17 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98. The firm has a 50 day moving average of $308.33 and a two-hundred day moving average of $293.44. Cummins Inc. has a 1-year low of $212.80 and a 1-year high of $338.63.

Cummins (NYSE:CMI) last issued its earnings results on Thursday, August 1st. The company reported $5.26 earnings per share for the quarter, topping the consensus estimate of $4.85 by $0.41. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The company had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $8.33 billion. During the same quarter in the prior year, the business earned $5.18 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. On average, research analysts anticipate that Cummins Inc. will post 19.77 EPS for the current year.

Wall Street Analysts Forecast Growth

CMI has been the subject of several research reports. Truist Financial lifted their price objective on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Citigroup increased their price target on shares of Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Barclays upped their target price on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research report on Friday. Finally, Raymond James initiated coverage on Cummins in a research report on Friday, June 28th. They set a “market perform” rating for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Cummins presently has a consensus rating of “Hold” and a consensus target price of $311.55.

Insider Activity

In other news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the completion of the sale, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Sharon R. Barner sold 4,780 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the business’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 sale, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.