Kavar Capital Partners Group LLC Makes New $212,000 Investment in Cummins Inc. (NYSE:CMI)

Kavar Capital Partners Group LLC acquired a new stake in Cummins Inc. (NYSE:CMI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 608 shares of the company’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Global Trust Asset Management LLC boosted its position in Cummins by 59.6% during the fourth 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. Prospera Private Wealth LLC bought a new position in Cummins during the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new position in Cummins during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new stake in Cummins in the third quarter valued at approximately $55,000. Finally, Friedenthal Financial purchased a new stake in shares of Cummins during the fourth quarter valued at approximately $55,000. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 0.4 %

Shares of NYSE:CMI opened at $367.45 on Monday. 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 fifty day simple moving average of $363.94 and a two-hundred day simple moving average of $331.60. Cummins Inc. has a 12-month low of $236.00 and a 12-month high of $387.90. The stock has a market capitalization of $50.41 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The company 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.73 EPS. On average, research analysts anticipate 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 6,489 shares of company stock valued at $2,357,531 over the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CMI. 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 research report on Wednesday, November 6th. Jefferies Financial Group raised their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup lowered their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Finally, 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. Eight investment 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.