Mandatum Life Insurance Co Ltd Has $216,000 Position in Cummins Inc. (NYSE:CMI)

Mandatum Life Insurance Co Ltd decreased its holdings in Cummins Inc. (NYSE:CMI) by 12.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 620 shares of the company’s stock after selling 90 shares during the quarter. Mandatum Life Insurance Co Ltd’s holdings in Cummins were worth $216,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Prospera Private Wealth LLC bought a new stake in Cummins during the third quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new stake in Cummins during the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Cummins during the third quarter valued at approximately $55,000. Friedenthal Financial acquired a new stake in shares of Cummins in the 4th quarter valued at $55,000. Finally, Bangor Savings Bank raised its holdings in Cummins by 24.6% during the 4th quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after purchasing an additional 35 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Stock Down 0.1 %

Cummins stock opened at $365.98 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. Cummins Inc. has a 1-year low of $226.52 and a 1-year high of $387.90. The company has a fifty day simple moving average of $363.33 and a 200 day simple moving average of $327.80. The company has a market cap of $50.21 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01.

Cummins (NYSE:CMI) last announced its quarterly earnings data 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 return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter last year, the company earned $4.73 EPS. Cummins’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts anticipate that Cummins Inc. will post 20.75 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 dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 6,489 shares of company stock worth $2,357,531 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

CMI has been the topic of a number of recent research reports. Citigroup reduced their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Truist Financial boosted their price target on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday. Robert W. Baird raised their price objective on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cummins presently has a consensus rating of “Hold” 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.