Cummins Inc. (NYSE:CMI) Shares Acquired by Atomi Financial Group Inc.

Atomi Financial Group Inc. raised its holdings in shares of Cummins Inc. (NYSE:CMI) by 29.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,731 shares of the company’s stock after purchasing an additional 393 shares during the period. Atomi Financial Group Inc.’s holdings in Cummins were worth $603,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. PFG Investments LLC increased its position in shares of Cummins by 27.7% during the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after purchasing an additional 485 shares in the last quarter. CWM LLC increased its position in shares of Cummins by 17.4% in the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after acquiring an additional 1,786 shares during the period. Alpha DNA Investment Management LLC acquired a new position in shares of Cummins in the 3rd quarter valued at $748,000. Franklin Resources Inc. increased its position in shares of Cummins by 74.2% in the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after acquiring an additional 99,464 shares during the period. Finally, Dupree Financial Group LLC acquired a new position in shares of Cummins in the 3rd quarter valued at $3,925,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Price Performance

NYSE:CMI opened at $369.32 on Friday. Cummins Inc. has a 52 week low of $234.49 and a 52 week high of $387.90. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $50.66 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The stock’s 50-day moving average price is $363.72 and its 200-day moving average price is $329.82.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period last year, the firm earned $4.73 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. As a group, equities analysts expect that Cummins Inc. will post 21.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total value of $784,065.87. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,540,879.47. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 6,489 shares of company stock worth $2,357,531. Insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CMI. Truist Financial upped their target price on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research report on Wednesday, November 6th. Jefferies Financial Group upped their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Robert W. Baird increased their price target on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upgraded 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, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cummins has a consensus rating of “Moderate Buy” and an average target price of $374.25.

Cummins 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.