Columbus Macro LLC Purchases 13,628 Shares of Cummins Inc. (NYSE:CMI)

Columbus Macro LLC increased its position in shares of Cummins Inc. (NYSE:CMI) by 489.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,412 shares of the company’s stock after purchasing an additional 13,628 shares during the quarter. Columbus Macro LLC’s holdings in Cummins were worth $5,721,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Centaurus Financial Inc. lifted its position in shares of Cummins by 10.4% during the second quarter. Centaurus Financial Inc. now owns 837 shares of the company’s stock worth $232,000 after acquiring an additional 79 shares in the last quarter. Czech National Bank grew its stake in shares of Cummins by 7.1% during the third quarter. Czech National Bank now owns 27,918 shares of the company’s stock valued at $9,040,000 after buying an additional 1,854 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Cummins by 37.3% in the third quarter. GAMMA Investing LLC now owns 2,372 shares of the company’s stock worth $768,000 after purchasing an additional 644 shares during the last quarter. Azzad Asset Management Inc. ADV increased its position in shares of Cummins by 1.8% in the third quarter. Azzad Asset Management Inc. ADV now owns 9,513 shares of the company’s stock valued at $3,080,000 after acquiring an additional 170 shares during the period. Finally, Diversified Trust Co raised its position in Cummins by 36.4% during the 3rd quarter. Diversified Trust Co now owns 12,858 shares of the company’s stock valued at $4,163,000 after purchasing an additional 3,429 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $348.16 on Tuesday. Cummins Inc. has a 1 year low of $236.00 and a 1 year high of $387.90. The business has a fifty day moving average of $362.75 and a 200 day moving average of $333.86. 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 firm has a market capitalization of $47.76 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter last year, the firm earned $4.73 EPS. The business’s revenue was up .3% compared to the same quarter last year. As a group, research analysts expect that Cummins Inc. will post 20.62 earnings per share for the current year.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 6,490 shares of company stock worth $2,357,880. 0.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Truist Financial boosted their target price on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $420.00 in a report on Monday, December 9th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research note on Wednesday, November 6th. Finally, Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and raised their price target for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.