Sylvest Advisors LLC Acquires Shares of 3,426 Cummins Inc. (NYSE:CMI)

Sylvest Advisors LLC bought a new position in Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,426 shares of the company’s stock, valued at approximately $1,194,000. Cummins comprises 0.7% of Sylvest Advisors LLC’s portfolio, making the stock its 19th biggest position.

Other large investors have also recently made changes to their positions in the company. Global Trust Asset Management LLC increased its stake in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the period. KG&L Capital Management LLC increased its stake in Cummins by 0.8% in the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock worth $1,296,000 after buying an additional 28 shares during the period. Chicago Capital LLC lifted its holdings in Cummins by 0.9% during the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after buying an additional 30 shares in the last quarter. Equitable Trust Co. boosted its position in Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after buying an additional 32 shares during the period. Finally, Mayflower Financial Advisors LLC grew its stake in Cummins by 2.0% in the 4th quarter. Mayflower Financial Advisors LLC now owns 1,631 shares of the company’s stock worth $568,000 after acquiring an additional 32 shares in the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Price Performance

Shares of CMI opened at $356.25 on Friday. The company has a 50 day moving average of $362.75 and a two-hundred day moving average of $333.36. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a twelve month low of $236.00 and a twelve month high of $387.90. The company has a market cap of $48.87 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 1.63 and a beta of 1.01.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter last year, the firm earned $4.73 EPS. The business’s quarterly revenue was up .3% on a year-over-year basis. As a group, analysts predict that Cummins Inc. will post 20.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CMI has been the subject of several research analyst reports. Robert W. Baird lifted their price target on shares of Cummins from $330.00 to $372.00 and gave the company 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 report on Wednesday, November 6th. Truist Financial raised their price target on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Finally, Citigroup cut their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cummins has a consensus rating of “Moderate Buy” and an average target price of $374.25.

Insider Activity

In other news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 6,490 shares of company stock worth $2,357,880 over the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

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.