Cummins Inc. (NYSE:CMI) Shares Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC grew its stake in Cummins Inc. (NYSE:CMI) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,902 shares of the company’s stock after purchasing an additional 117 shares during the period. Cummins makes up approximately 1.0% of Cornerstone Wealth Group LLC’s portfolio, making the stock its 19th biggest holding. Cornerstone Wealth Group LLC’s holdings in Cummins were worth $12,167,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Global Trust Asset Management LLC lifted its holdings in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares during the period. Chicago Capital LLC lifted its holdings in Cummins by 0.9% in the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after acquiring an additional 30 shares during the period. Equitable Trust Co. boosted its position in shares of Cummins by 3.6% during the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after purchasing an additional 32 shares in the last quarter. EP Wealth Advisors LLC grew its stake in shares of Cummins by 1.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after purchasing an additional 35 shares during the period. Finally, Bangor Savings Bank increased its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on CMI shares. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective on the stock. in a report on Wednesday, November 6th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Truist Financial upped their target price on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Finally, Robert W. Baird boosted their price objective 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. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cummins presently has an average rating of “Moderate Buy” and an average target price of $374.25.

Cummins Stock Performance

Shares of NYSE CMI opened at $367.45 on Monday. The company has a 50-day simple moving average of $363.94 and a 200-day simple moving average of $331.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The company has a market cap of $50.41 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. Cummins Inc. has a 12 month low of $236.00 and a 12 month high of $387.90.

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

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is owned by company insiders.

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.