Livforsakringsbolaget Skandia Omsesidigt Has $12.69 Million Holdings in Cummins Inc. (NYSE:CMI)

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Cummins Inc. (NYSE:CMI) by 26.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,240 shares of the company’s stock after buying an additional 8,300 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cummins were worth $12,693,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CMI. Cultivar Capital Inc. acquired a new stake in shares of Cummins during the 2nd quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Cummins in the 2nd quarter valued at about $28,000. Lynx Investment Advisory purchased a new stake in shares of Cummins during the 2nd quarter valued at approximately $29,000. LRI Investments LLC purchased a new stake in shares of Cummins during the first quarter worth $31,000. Finally, Bangor Savings Bank lifted its holdings in Cummins by 39.2% during the 2nd quarter. Bangor Savings Bank now owns 142 shares of the company’s stock worth $39,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Truist Financial lifted their price target on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research report on Wednesday. Raymond James started coverage on shares of Cummins in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Robert W. Baird boosted their target price on Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Barclays increased their price target on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, Evercore ISI increased their price objective on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Cummins presently has an average rating of “Hold” and a consensus price target of $311.55.

Insider Activity

In related news, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction that occurred on 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 $23,870,722.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the transaction, the senior vice president now owns 77,442 shares of the company’s stock, valued at $23,870,722.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sharon R. Barner sold 4,780 shares of the business’s stock in a transaction 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 transaction, the vice president now 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 disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Cummins Stock Up 1.0 %

NYSE:CMI opened at $336.07 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51. Cummins Inc. has a twelve month low of $212.80 and a twelve month high of $337.60. The company has a market cap of $46.06 billion, a PE ratio of 24.23, a P/E/G ratio of 1.92 and a beta of 0.98. The company’s 50 day moving average is $308.33 and its two-hundred day moving average is $293.44.

Cummins (NYSE:CMI) last released its earnings results on Thursday, August 1st. The company reported $5.26 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.80 billion for the quarter, compared to the consensus estimate of $8.33 billion. During the same period in the prior year, the firm earned $5.18 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. Analysts anticipate that Cummins Inc. will post 19.77 EPS for the current 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.