Geneos Wealth Management Inc. Has $2.44 Million Holdings in Cummins Inc. (NYSE:CMI)

Geneos Wealth Management Inc. raised its stake in Cummins Inc. (NYSE:CMI) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,991 shares of the company’s stock after buying an additional 205 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Cummins were worth $2,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MBB Public Markets I LLC acquired a new position in Cummins during the second quarter valued at approximately $2,797,000. SkyView Investment Advisors LLC grew its holdings in shares of Cummins by 12.7% in the 2nd quarter. SkyView Investment Advisors LLC now owns 5,132 shares of the company’s stock valued at $1,421,000 after buying an additional 577 shares during the period. Ascent Group LLC increased its position in shares of Cummins by 6.8% in the 2nd quarter. Ascent Group LLC now owns 1,280 shares of the company’s stock valued at $354,000 after buying an additional 82 shares in the last quarter. Copperwynd Financial LLC raised its stake in Cummins by 4.3% during the 2nd quarter. Copperwynd Financial LLC now owns 2,904 shares of the company’s stock worth $847,000 after buying an additional 121 shares during the period. Finally, Silver Lake Advisory LLC lifted its holdings in Cummins by 8.8% during the second quarter. Silver Lake Advisory LLC now owns 1,628 shares of the company’s stock worth $451,000 after acquiring an additional 132 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 0.4 %

NYSE:CMI opened at $367.45 on Monday. Cummins Inc. has a twelve month low of $236.00 and a twelve month high of $387.90. The firm has a market capitalization of $50.41 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 1.69 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. The stock’s 50 day moving average price is $363.94 and its two-hundred day moving average price is $331.20.

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

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 6,489 shares of company stock worth $2,357,531 in the last ninety days. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CMI. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a report on Wednesday, November 6th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Truist Financial upped their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Finally, StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” 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.