Unison Advisors LLC Raises Stake in Cummins Inc. (NYSE:CMI)

Unison Advisors LLC increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,057 shares of the company’s stock after purchasing an additional 67 shares during the quarter. Unison Advisors LLC’s holdings in Cummins were worth $3,580,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Advocate Group LLC raised its position in Cummins by 0.8% in the third quarter. Advocate Group LLC now owns 23,151 shares of the company’s stock valued at $7,496,000 after purchasing an additional 192 shares during the period. Wedmont Private Capital boosted its holdings in Cummins by 8.3% in the 3rd quarter. Wedmont Private Capital now owns 1,330 shares of the company’s stock worth $441,000 after acquiring an additional 102 shares during the period. CWM LLC grew its position in Cummins by 17.4% in the third quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after acquiring an additional 1,786 shares in the last quarter. Daymark Wealth Partners LLC raised its stake in shares of Cummins by 19.4% during the third quarter. Daymark Wealth Partners LLC now owns 7,061 shares of the company’s stock valued at $2,286,000 after purchasing an additional 1,149 shares during the period. Finally, Peddock Capital Advisors LLC boosted its stake in shares of Cummins by 2.3% in the third quarter. Peddock Capital Advisors LLC now owns 8,520 shares of the company’s stock valued at $2,759,000 after purchasing an additional 195 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

CMI traded down $1.48 on Thursday, hitting $331.57. 51,625 shares of the company’s stock were exchanged, compared to its average volume of 1,589,791. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average of $306.88 and a two-hundred day moving average of $292.82. Cummins Inc. has a twelve month low of $212.80 and a twelve month high of $334.99. The firm has a market cap of $45.35 billion, a PE ratio of 24.37, a P/E/G ratio of 1.81 and a beta of 0.98.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Truist Financial raised their price objective on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on Cummins from $275.00 to $285.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Barclays raised their price target on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, Citigroup lifted their price target on shares of Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus price target of $306.55.

Insider Transactions at Cummins

In related news, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction dated Friday, August 23rd. The shares were 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 directly owns 77,442 shares in the company, valued at $23,870,722.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the transaction, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.