Wealth Enhancement Advisory Services LLC Sells 122 Shares of Cummins Inc. (NYSE:CMI)

Wealth Enhancement Advisory Services LLC lowered its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,233 shares of the company’s stock after selling 122 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Cummins were worth $5,580,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in CMI. State Street Corp increased its holdings in shares of Cummins by 2.1% in 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. Fisher Asset Management LLC increased its stake in Cummins by 5.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after purchasing an additional 165,398 shares during the period. Pathway Financial Advisers LLC lifted its position in Cummins by 31,489.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after purchasing an additional 2,523,854 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Cummins by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company’s stock valued at $469,869,000 after purchasing an additional 26,977 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Cummins by 1.9% in the second quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock worth $468,503,000 after buying an additional 31,190 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Truist Financial raised their price target on shares of Cummins from $369.00 to $424.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a report on Wednesday, November 6th. Finally, Robert W. Baird boosted their price objective on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cummins has an average rating of “Hold” and a consensus price target of $363.50.

Cummins Price Performance

Shares of CMI opened at $360.80 on Tuesday. The firm’s 50-day simple moving average is $362.62 and its two-hundred day simple moving average is $325.60. Cummins Inc. has a fifty-two week low of $226.52 and a fifty-two week high of $387.90. The stock has a market cap of $49.49 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32.

Cummins (NYSE:CMI) last posted 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. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the company earned $4.73 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Insider Transactions at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 6,489 shares of company stock valued at $2,357,531 in the last quarter. 0.56% of the stock is owned by insiders.

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.