Arkadios Wealth Advisors Grows Stake in Cummins Inc. (NYSE:CMI)

Arkadios Wealth Advisors boosted its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 24.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,544 shares of the company's stock after buying an additional 1,465 shares during the period. Arkadios Wealth Advisors' holdings in Cummins were worth $2,630,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. PFG Investments LLC raised its position in Cummins by 27.7% in the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company's stock valued at $725,000 after buying an additional 485 shares during the last quarter. CWM LLC lifted its position in shares of Cummins by 17.4% during the third 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. Distillate Capital Partners LLC lifted its position in shares of Cummins by 109,309.3% during the second quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company's stock valued at $16,361,000 after purchasing an additional 59,027 shares in the last quarter. Alpha DNA Investment Management LLC bought a new stake in Cummins in the 3rd quarter worth about $748,000. Finally, Franklin Resources Inc. increased its stake in Cummins by 74.2% in the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company's stock valued at $79,017,000 after buying an additional 99,464 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the transaction, the vice president now owns 20,803 shares of the company's stock, valued at approximately $7,678,803.36. This represents a 9.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 6,489 shares of company stock valued at $2,357,531. Company insiders own 0.56% of the company's stock.

Cummins Trading Down 0.1 %

NYSE CMI traded down $0.35 during trading on Friday, hitting $365.98. 810,985 shares of the company's stock traded hands, compared to its average volume of 505,817. The stock has a fifty day moving average of $363.33 and a two-hundred day moving average of $327.80. Cummins Inc. has a 12-month low of $226.52 and a 12-month high of $387.90. The firm 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. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.73 EPS. As a group, sell-side analysts expect that Cummins Inc. will post 20.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CMI shares. Truist Financial boosted their price objective on Cummins from $424.00 to $425.00 and gave the stock a "hold" rating in a research report on Thursday. The Goldman Sachs Group increased their price target on shares of Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Citigroup dropped their target price on shares of Cummins from $435.00 to $430.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. StockNews.com cut shares of Cummins from a "strong-buy" rating to a "buy" rating in a report on Tuesday, January 14th. Finally, Jefferies Financial Group raised their target price on Cummins from $410.00 to $435.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $374.25.

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.