Chicago Partners Investment Group LLC Purchases 77 Shares of Cummins Inc. (NYSE:CMI)

Chicago Partners Investment Group LLC lifted its position in Cummins Inc. (NYSE:CMI) by 7.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,155 shares of the company’s stock after buying an additional 77 shares during the period. Chicago Partners Investment Group LLC’s holdings in Cummins were worth $415,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Global Trust Asset Management LLC increased its holdings in Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Cummins during the 3rd quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new position in Cummins during the 3rd quarter worth about $34,000. Friedenthal Financial bought a new position in Cummins during the 4th quarter worth about $55,000. Finally, Ashton Thomas Securities LLC bought a new position in Cummins during the 3rd quarter worth about $55,000. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 2.3 %

Shares of CMI stock opened at $348.16 on Tuesday. The firm has a 50 day moving average price of $362.75 and a two-hundred day moving average price of $333.86. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $47.76 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00. Cummins Inc. has a 12-month low of $236.00 and a 12-month high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the business posted $4.73 earnings per share. As a group, analysts predict that Cummins Inc. will post 20.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 6,490 shares of company stock worth $2,357,880 over the last three months. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Truist Financial increased their price objective on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $374.25.

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.