Mayflower Financial Advisors LLC Buys 32 Shares of Cummins Inc. (NYSE:CMI)

Mayflower Financial Advisors LLC increased its stake in shares of Cummins Inc. (NYSE:CMI) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,631 shares of the company’s stock after acquiring an additional 32 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Cummins were worth $568,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. PFG Investments LLC boosted its position in shares of Cummins by 27.7% during the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after purchasing an additional 485 shares in the last quarter. Mariner Investment Group LLC acquired a new position in Cummins during the 4th quarter worth approximately $1,046,000. CWM LLC boosted its holdings in Cummins by 17.4% in the third quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after acquiring an additional 1,786 shares in the last quarter. Alpha DNA Investment Management LLC bought a new position in shares of Cummins in the 3rd quarter worth $748,000. Finally, Franklin Resources Inc. grew its position in Cummins by 74.2% in the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after purchasing an additional 99,464 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMI. 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 raised shares of Cummins from an “underperform” rating to a “neutral” rating and raised their price target for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Citigroup decreased their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and raised their target price for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Finally, Truist Financial increased their price target on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Eight 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 MarketBeat.com, Cummins presently has an average rating of “Moderate Buy” and an average price target of $374.25.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the transaction, the vice president now owns 20,803 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 6,490 shares of company stock worth $2,357,880. 0.56% of the stock is owned by company insiders.

Cummins Stock Performance

Shares of CMI stock opened at $354.31 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The firm has a market cap of $48.60 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 1.69 and a beta of 1.01. Cummins Inc. has a 52 week low of $236.00 and a 52 week high of $387.90. The firm’s 50-day simple moving average is $363.40 and its two-hundred day simple moving average is $332.55.

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

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.