Cummins Inc. (NYSE:CMI) Shares Purchased by Sapient Capital LLC

Sapient Capital LLC grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,127 shares of the company’s stock after purchasing an additional 34 shares during the quarter. Sapient Capital LLC’s holdings in Cummins were worth $4,576,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Pathway Financial Advisers LLC grew its position in Cummins by 31,489.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after buying an additional 2,523,854 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Cummins by 38,765.8% in the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock valued at $315,616,000 after acquiring an additional 972,247 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Cummins by 5.8% during the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after purchasing an additional 165,398 shares in the last quarter. State Street Corp lifted its position in Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after purchasing an additional 126,703 shares during the period. Finally, abrdn plc boosted its stake in Cummins by 22.5% during the 3rd quarter. abrdn plc now owns 611,810 shares of the company’s stock valued at $198,119,000 after purchasing an additional 112,529 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Price Performance

Shares of CMI opened at $373.98 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 1.31. The firm has a market cap of $51.30 billion, a PE ratio of 13.28, a PEG ratio of 2.10 and a beta of 1.00. Cummins Inc. has a twelve month low of $250.90 and a twelve month high of $387.90. The firm’s 50 day moving average price is $361.82 and its 200 day moving average price is $336.52.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the previous year, the business posted $4.14 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, research analysts expect that Cummins Inc. will post 22.57 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,678,803.36. This represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 4,327 shares of company stock worth $1,582,821 in the last 90 days. 0.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CMI. StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 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 report on Thursday, January 16th. The Goldman Sachs Group raised their price objective on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Jefferies Financial Group boosted their price target on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $383.08.

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.