Wedmont Private Capital Has $441,000 Stock Holdings in Cummins Inc. (NYSE:CMI)

Wedmont Private Capital raised its stake in shares of Cummins Inc. (NYSE:CMI) by 8.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,330 shares of the company’s stock after purchasing an additional 102 shares during the quarter. Wedmont Private Capital’s holdings in Cummins were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. bought a new stake in Cummins in the second quarter valued at $28,000. Cultivar Capital Inc. bought a new stake in shares of Cummins in the 2nd quarter worth about $28,000. Lynx Investment Advisory acquired a new stake in shares of Cummins during the 2nd quarter worth about $29,000. LRI Investments LLC bought a new position in Cummins during the 1st quarter valued at about $31,000. Finally, Quarry LP boosted its position in Cummins by 258.5% in the fourth quarter. Quarry LP now owns 147 shares of the company’s stock valued at $35,000 after buying an additional 106 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Sharon R. Barner sold 4,780 shares of Cummins stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the transaction, the vice president now owns 20,873 shares of the company’s stock, valued at $6,269,205.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 sale, the senior vice president now 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Sharon R. Barner sold 4,780 shares of Cummins stock in a transaction dated 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 transaction, the vice president now owns 20,873 shares in the company, 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. 0.56% of the stock is currently owned by company insiders.

Cummins Price Performance

Shares of CMI stock opened at $336.07 on Friday. The firm’s 50 day moving average price is $308.33 and its two-hundred day moving average price is $293.45. The stock has a market cap of $45.97 billion, a PE ratio of 24.60, a PEG ratio of 1.92 and a beta of 0.98. Cummins Inc. has a 52-week low of $212.80 and a 52-week high of $337.60. 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 posted 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 analyst estimates of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $5.18 EPS. As a group, analysts forecast that Cummins Inc. will post 19.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CMI shares. JPMorgan Chase & Co. lifted their target price on shares of Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday. Robert W. Baird boosted their price objective on Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Evercore ISI increased their target price on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Barclays lifted their price target on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Finally, Truist Financial increased their price objective on shares of Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $311.55.

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.