Cwm LLC Acquires 1,786 Shares of Cummins Inc. (NYSE:CMI)

Cwm LLC increased its holdings in Cummins Inc. (NYSE:CMI) by 17.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,069 shares of the company’s stock after acquiring an additional 1,786 shares during the quarter. Cwm LLC’s holdings in Cummins were worth $3,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of CMI. Cultivar Capital Inc. purchased a new stake in shares of Cummins in the second quarter worth $28,000. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Cummins in the second quarter worth approximately $28,000. Lynx Investment Advisory purchased a new position in shares of Cummins during the second quarter valued at approximately $29,000. LRI Investments LLC purchased a new position in shares of Cummins in the 1st quarter worth $31,000. Finally, Bangor Savings Bank grew its stake in shares of Cummins by 39.2% during the 2nd quarter. Bangor Savings Bank now owns 142 shares of the company’s stock valued at $39,000 after purchasing an additional 40 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Tony Satterthwaite sold 24,250 shares of the business’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 transaction of $7,474,820.00. Following the transaction, the senior vice president now owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was 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 owns 20,873 shares of the company’s stock, valued at approximately $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. Insiders own 0.56% of the company’s stock.

Cummins Stock Performance

Shares of NYSE CMI opened at $336.07 on Monday. The firm’s fifty day moving average is $308.33 and its two-hundred day moving average is $293.44. Cummins Inc. has a 52-week low of $212.80 and a 52-week high of $337.60. The company has a market cap of $45.97 billion, a P/E ratio of 24.60, a P/E/G ratio of 1.92 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.82 and a current ratio of 1.34.

Cummins (NYSE:CMI) last issued its 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. 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 analysts’ expectations of $8.33 billion. During the same period in the previous year, the firm posted $5.18 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts anticipate that Cummins Inc. will post 19.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on CMI shares. Robert W. Baird upped their target price on shares of Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their target price on Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a report on Friday. Raymond James initiated coverage on Cummins in a report on Friday, June 28th. They set a “market perform” rating for the company. Truist Financial raised their price objective on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI boosted their price objective on Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $311.55.

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.