Kathleen S. Wright Associates Inc. bought a new stake in Cummins Inc. (NYSE:CMI – Free Report) 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.
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.
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