Cummins Inc. (NYSE:CMI) Stock Holdings Lifted by Transform Wealth LLC

Transform Wealth LLC increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 6.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 38,284 shares of the company’s stock after buying an additional 2,289 shares during the period. Transform Wealth LLC’s holdings in Cummins were worth $13,346,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Pathway Financial Advisers LLC grew its position in shares of Cummins by 31,489.1% during the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after acquiring an additional 2,523,854 shares during the last quarter. International Assets Investment Management LLC grew its position in Cummins by 38,765.8% in the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after purchasing an additional 972,247 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after purchasing an additional 165,398 shares during the period. AXA S.A. raised its holdings in shares of Cummins by 247.5% during the second quarter. AXA S.A. now owns 229,051 shares of the company’s stock valued at $63,431,000 after buying an additional 163,129 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Cummins by 31.0% during the second quarter. AQR Capital Management LLC now owns 616,876 shares of the company’s stock worth $170,831,000 after buying an additional 145,921 shares during the period. Institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CMI. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. The Goldman Sachs Group increased their target price on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Robert W. Baird boosted their price target on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Truist Financial upped their price objective on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Finally, Jefferies Financial Group lifted their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $374.25.

Cummins Stock Performance

Shares of CMI stock opened at $365.98 on Tuesday. The company has a market capitalization of $50.21 billion, a price-to-earnings ratio of 24.17, a P/E/G ratio of 1.69 and a beta of 1.01. 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’s fifty day simple moving average is $363.49 and its 200-day simple moving average is $328.85.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. Cummins’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $4.73 EPS. On average, sell-side analysts predict that Cummins Inc. will post 21.92 earnings per share for the current fiscal year.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was 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 owns 20,803 shares of the company’s stock, valued at $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is owned by corporate insiders.

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.