Cvfg LLC Invests $479,000 in Cummins Inc. (NYSE:CMI)

Cvfg LLC acquired a new stake in Cummins Inc. (NYSE:CMI) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,375 shares of the company’s stock, valued at approximately $479,000.

Several other hedge funds and other institutional investors have also modified their holdings of CMI. Chicago Capital LLC boosted its holdings in Cummins by 0.9% in the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after purchasing an additional 30 shares during the period. Equitable Trust Co. raised its position in shares of Cummins by 3.6% during the third 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 last quarter. EP Wealth Advisors LLC lifted its stake in shares of Cummins by 1.9% in the second quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock valued at $520,000 after buying an additional 35 shares during the period. Bangor Savings Bank grew its position in Cummins by 24.6% during the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after buying an additional 35 shares in the last quarter. Finally, Graypoint LLC increased its stake in Cummins by 2.0% during the fourth quarter. Graypoint LLC now owns 1,874 shares of the company’s stock valued at $653,000 after acquiring an additional 36 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Up 1.6 %

Shares of Cummins stock opened at $366.55 on Friday. 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 12-month low of $226.52 and a 12-month high of $387.90. The company has a market capitalization of $50.28 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.61 and a beta of 1.01. The firm’s 50-day moving average price is $362.91 and its two-hundred day moving average price is $326.45.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the business posted $4.73 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. On average, analysts forecast that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on CMI shares. Vertical Research lowered 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 lifted 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. Citigroup dropped their target price on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday. Robert W. Baird boosted 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. Finally, Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $354.00 to $358.00 in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cummins has an average rating of “Hold” and an average target price of $374.25.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 2,001 shares of the company’s stock in a transaction 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 directly owns 20,803 shares in the company, valued at $7,456,419.29. This represents a 8.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is currently owned by corporate 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.