Cummins Inc. (NYSE:CMI) Shares Acquired by Angeles Wealth Management LLC

Angeles Wealth Management LLC increased its stake in shares of Cummins Inc. (NYSE:CMI) by 115.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,238 shares of the company’s stock after purchasing an additional 1,201 shares during the period. Angeles Wealth Management LLC’s holdings in Cummins were worth $780,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. PFG Investments LLC lifted its position in shares of Cummins by 27.7% in the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after acquiring an additional 485 shares in the last quarter. Mariner Investment Group LLC acquired a new position in Cummins in the 4th quarter valued at about $1,046,000. CWM LLC lifted its holdings in 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 purchasing an additional 1,786 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new stake in shares of Cummins during the 3rd quarter worth about $748,000. Finally, Franklin Resources Inc. grew its holdings in shares of Cummins by 74.2% during the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after buying an additional 99,464 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Cummins stock opened at $372.12 on Monday. The firm has a fifty day moving average of $361.82 and a 200-day moving average of $336.13. Cummins Inc. has a 52-week low of $247.53 and a 52-week high of $387.90. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $51.05 billion, a P/E ratio of 13.21, a PEG ratio of 2.10 and a beta of 1.00.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.14 EPS. As a group, analysts predict that Cummins Inc. will post 22.57 EPS for the current year.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total transaction of $784,065.87. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,540,879.47. This trade represents a 9.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 4,327 shares of company stock worth $1,582,821. 0.56% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Truist Financial raised their target price 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. Barclays lifted their price objective on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Finally, Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Cummins has an average rating of “Hold” and an average target price 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.