Aaron Wealth Advisors LLC Acquires 272 Shares of Cummins Inc. (NYSE:CMI)

Aaron Wealth Advisors LLC grew its holdings in Cummins Inc. (NYSE:CMI) by 25.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,326 shares of the company’s stock after purchasing an additional 272 shares during the period. Aaron Wealth Advisors LLC’s holdings in Cummins were worth $462,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in Cummins in the third quarter valued at about $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cummins during the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Cummins during the 3rd quarter valued at approximately $55,000. Friedenthal Financial acquired a new position in Cummins during the 4th quarter worth approximately $55,000. Finally, Bangor Savings Bank lifted its stake in Cummins by 24.6% in the 4th quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Buying and Selling

In other news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the transaction, the vice president now owns 20,803 shares in the company, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 6,489 shares of company stock valued at $2,357,531 over the last ninety days. 0.56% of the stock is owned by corporate insiders.

Cummins Stock Performance

CMI stock opened at $365.98 on Monday. Cummins Inc. has a 1-year low of $226.52 and a 1-year high of $387.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $363.33 and a 200-day moving average price of $327.80. The firm has a market cap of $50.21 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.73 earnings per share. As a group, equities research analysts expect that Cummins Inc. will post 20.75 earnings per share for the current year.

Wall Street Analyst Weigh In

CMI has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. The Goldman Sachs Group boosted their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $355.00 to $420.00 in a report on Monday, December 9th. Finally, StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” 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.