Cummins Inc. (NYSE:CMI) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC decreased its holdings in shares of Cummins Inc. (NYSE:CMI) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,250 shares of the company’s stock after selling 844 shares during the period. Lmcg Investments LLC’s holdings in Cummins were worth $13,683,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. PFG Investments LLC increased its position in shares of Cummins by 27.7% in the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after buying an additional 485 shares in the last quarter. CWM LLC increased its stake in shares of Cummins by 17.4% during the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after purchasing an additional 1,786 shares in the last quarter. Distillate Capital Partners LLC raised its position in shares of Cummins by 109,309.3% during the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock worth $16,361,000 after purchasing an additional 59,027 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new stake in Cummins in the 3rd quarter valued at approximately $748,000. Finally, Franklin Resources Inc. grew its holdings in Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after buying an additional 99,464 shares during the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Trading Down 0.1 %

CMI opened at $365.98 on Tuesday. Cummins Inc. has a 12-month low of $226.52 and a 12-month high of $387.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The stock has a market capitalization of $50.21 billion, a PE ratio of 24.17, a P/E/G ratio of 1.69 and a beta of 1.01. The firm’s fifty day moving average price is $363.33 and its 200 day moving average price is $328.19.

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

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 2,163 shares of the firm’s 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 transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 6,489 shares of company stock valued at $2,357,531 in the last quarter. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CMI. Vertical Research cut 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. Truist Financial increased their price target 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. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.