BSW Wealth Partners Takes $212,000 Position in Cummins Inc. (NYSE:CMI)

BSW Wealth Partners acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, HoldingsChannel reports. The firm acquired 607 shares of the company’s stock, valued at approximately $212,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC grew its holdings in shares of Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Cummins in the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Cummins in the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Cummins during the 3rd quarter worth $55,000. Finally, Friedenthal Financial acquired a new stake in shares of Cummins during the fourth quarter worth $55,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of NYSE:CMI opened at $354.31 on Thursday. The company has a market cap of $48.60 billion, a P/E ratio of 23.40, a PEG ratio of 1.69 and a beta of 1.01. Cummins Inc. has a one year low of $236.00 and a one year high of $387.90. The business’s 50-day simple moving average is $363.40 and its 200 day simple moving average is $332.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating 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 business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the firm earned $4.73 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts forecast that Cummins Inc. will post 21.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. 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 report on Monday, December 9th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Vertical Research downgraded shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a report on Wednesday, November 6th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Finally, Truist Financial boosted their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cummins presently has a consensus rating of “Moderate Buy” and an average target price of $374.25.

Insider Transactions at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,001 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $358.43, for a total transaction of $717,218.43. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at $7,456,419.29. This trade represents a 8.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 6,490 shares of company stock valued at $2,357,880. 0.56% of the stock is currently owned by insiders.

Cummins Company 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.