LexAurum Advisors LLC Increases Holdings in Cummins Inc. (NYSE:CMI)

LexAurum Advisors LLC lifted its position in Cummins Inc. (NYSE:CMI) by 5.3% in the fourth quarter, Holdings Channel reports. The firm owned 1,111 shares of the company’s stock after buying an additional 56 shares during the period. LexAurum Advisors LLC’s holdings in Cummins were worth $387,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CMI. Pathway Financial Advisers LLC lifted its holdings in Cummins by 31,489.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after buying an additional 2,523,854 shares during the period. International Assets Investment Management LLC lifted its holdings in Cummins by 38,765.8% during the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after buying an additional 972,247 shares during the period. Fisher Asset Management LLC lifted its holdings in Cummins by 5.8% during the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after buying an additional 165,398 shares during the period. State Street Corp lifted its holdings in Cummins by 2.1% during the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after buying an additional 126,703 shares during the period. Finally, abrdn plc lifted its holdings in Cummins by 22.5% during the third quarter. abrdn plc now owns 611,810 shares of the company’s stock worth $198,119,000 after buying an additional 112,529 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CMI. Truist Financial upped their target price on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Robert W. Baird raised their price objective on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group raised their price objective on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $374.25.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the transaction, the vice president now owns 20,803 shares in the company, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 6,489 shares of company stock worth $2,357,531. Insiders own 0.56% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $367.45 on Friday. The firm has a market capitalization of $50.41 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The business has a fifty day moving average of $363.83 and a 200 day moving average of $330.09. Cummins Inc. has a 1 year low of $236.00 and a 1 year high of $387.90.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the business posted $4.73 EPS. As a group, research analysts expect that Cummins Inc. will post 21.92 earnings per share for the current year.

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.