Cummins Inc. (NYSE:CMI) Shares Bought by Advocate Group LLC

Advocate Group LLC grew its stake in shares of Cummins Inc. (NYSE:CMI) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,151 shares of the company’s stock after buying an additional 192 shares during the period. Advocate Group LLC’s holdings in Cummins were worth $7,496,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CMI. Price T Rowe Associates Inc. MD grew its holdings in shares of Cummins by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company’s stock worth $2,342,001,000 after purchasing an additional 604,735 shares during the period. Jupiter Asset Management Ltd. acquired a new position in Cummins during the second quarter valued at approximately $68,018,000. SG Americas Securities LLC grew its stake in Cummins by 1,012.0% during the second quarter. SG Americas Securities LLC now owns 197,068 shares of the company’s stock worth $54,574,000 after buying an additional 179,346 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Cummins in the second quarter worth $46,607,000. Finally, AXA S.A. increased its position in shares of Cummins by 247.5% in the second quarter. AXA S.A. now owns 229,051 shares of the company’s stock worth $63,431,000 after acquiring an additional 163,129 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the transaction, the vice president now directly owns 20,873 shares in the company, valued at $6,269,205.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the completion of the transaction, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the transaction, the senior vice president now owns 77,442 shares of the company’s stock, valued at $23,870,722.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

Cummins Stock Down 0.2 %

CMI traded down $0.52 during trading on Thursday, hitting $332.53. The company had a trading volume of 37,344 shares, compared to its average volume of 1,589,791. The company has a market cap of $45.48 billion, a PE ratio of 24.37, a P/E/G ratio of 1.81 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82. Cummins Inc. has a 1-year low of $212.80 and a 1-year high of $334.99. The business has a 50-day moving average of $306.88 and a 200-day moving average of $292.82.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $5.26 EPS for the quarter, topping analysts’ consensus estimates of $4.85 by $0.41. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The business had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $8.33 billion. During the same period last year, the firm earned $5.18 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts forecast that Cummins Inc. will post 19.77 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on CMI shares. JPMorgan Chase & Co. upped their price target on shares of Cummins from $275.00 to $285.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Evercore ISI upped their target price on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Truist Financial raised their target price on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday. Citigroup upped their price target on Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Raymond James initiated coverage on shares of Cummins in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $306.55.

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.