Financial Management Professionals Inc. Boosts Stock Position in Cummins Inc. (NYSE:CMI)

Financial Management Professionals Inc. lifted its holdings in shares of Cummins Inc. (NYSE:CMI) by 9.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,766 shares of the company’s stock after acquiring an additional 146 shares during the period. Financial Management Professionals Inc.’s holdings in Cummins were worth $616,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC boosted 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 worth $819,794,000 after purchasing an additional 2,523,854 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Cummins by 38,765.8% in the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock valued at $315,616,000 after purchasing an additional 972,247 shares during the period. Fisher Asset Management LLC boosted 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 buying an additional 165,398 shares in the last quarter. AXA S.A. grew its position in Cummins by 247.5% during the second quarter. AXA S.A. now owns 229,051 shares of the company’s stock valued at $63,431,000 after buying an additional 163,129 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Cummins by 31.0% in the second quarter. AQR Capital Management LLC now owns 616,876 shares of the company’s stock worth $170,831,000 after acquiring an additional 145,921 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total value of $784,065.87. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,540,879.47. 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 can be accessed through this link. In the last quarter, insiders have sold 6,489 shares of company stock worth $2,357,531. Company insiders own 0.56% of the company’s stock.

Cummins Price Performance

Shares of CMI opened at $365.98 on Friday. Cummins Inc. has a 12 month low of $226.52 and a 12 month high of $387.90. The stock has a fifty day moving average price of $363.33 and a 200 day moving average price of $327.38. 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 company has a market cap of $50.21 billion, a P/E ratio of 24.17, a PEG ratio of 1.61 and a beta of 1.01.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.73 earnings per share. On average, research analysts forecast that Cummins Inc. will post 20.75 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Jefferies Financial Group increased their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 14th. Vertical Research lowered shares of 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. Citigroup reduced their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Truist Financial boosted their price objective on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.