Lake Street Private Wealth LLC Sells 155 Shares of Cummins Inc. (NYSE:CMI)

Lake Street Private Wealth LLC lowered its stake in shares of Cummins Inc. (NYSE:CMI) by 12.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,130 shares of the company’s stock after selling 155 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Cummins were worth $394,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Brooklyn Investment Group increased its position in Cummins by 11.1% during the fourth quarter. Brooklyn Investment Group now owns 663 shares of the company’s stock valued at $231,000 after acquiring an additional 66 shares during the last quarter. Merit Financial Group LLC boosted its stake in shares of Cummins by 177.5% during the 4th quarter. Merit Financial Group LLC now owns 12,835 shares of the company’s stock worth $4,474,000 after purchasing an additional 8,209 shares during the period. Relyea Zuckerberg Hanson LLC bought a new position in Cummins during the 4th quarter valued at about $219,000. Avanza Fonder AB purchased a new stake in Cummins in the 4th quarter worth about $84,000. Finally, Occidental Asset Management LLC lifted its stake in Cummins by 5.0% in the fourth quarter. Occidental Asset Management LLC now owns 13,863 shares of the company’s stock worth $4,833,000 after purchasing an additional 654 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction 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 transaction, the vice president now directly owns 20,803 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 in the last 90 days. 0.56% of the stock is owned by corporate insiders.

Cummins Stock Down 0.1 %

Cummins stock opened at $365.98 on Friday. Cummins Inc. has a twelve month low of $226.52 and a twelve month high of $387.90. The business has a fifty day moving average of $363.33 and a two-hundred day moving average of $327.38. The firm has a market cap of $50.21 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.61 and a beta of 1.01. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last issued 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. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $4.73 earnings per share. On average, analysts forecast that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CMI shares. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. 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 research note on Monday, December 9th. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 14th. Truist Financial raised their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cummins currently has a consensus rating of “Hold” and a consensus price target of $374.25.

About Cummins

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.