Cummins Inc. (NYSE:CMI) Shares Sold by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC cut its stake in Cummins Inc. (NYSE:CMI - Free Report) by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,499 shares of the company's stock after selling 1,134 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in Cummins were worth $2,614,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC lifted its position in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after buying an additional 28 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Cummins during the third quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new position in Cummins in the third quarter worth about $34,000. Friedenthal Financial acquired a new position in Cummins during the 4th quarter valued at approximately $55,000. Finally, Ashton Thomas Securities LLC bought a new stake in Cummins in the 3rd quarter valued at about $55,000. 83.46% of the stock is currently owned by institutional investors.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 162 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the transaction, the vice president now owns 20,803 shares of the company's stock, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 6,490 shares of company stock worth $2,357,880 in the last three months. Company insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on CMI. Citigroup dropped their target price on Cummins from $435.00 to $430.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. StockNews.com raised shares of Cummins from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, January 22nd. Evercore ISI raised shares of Cummins from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Bank of America upgraded shares of Cummins from an "underperform" rating to a "neutral" rating and increased their target price for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Finally, Truist Financial lifted their target price on shares of Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $383.08.

Cummins Trading Up 1.6 %

Shares of CMI traded up $5.99 during midday trading on Wednesday, reaching $369.50. The company had a trading volume of 293,484 shares, compared to its average volume of 817,360. Cummins Inc. has a 1-year low of $236.00 and a 1-year high of $387.90. The firm has a 50 day simple moving average of $361.94 and a 200-day simple moving average of $334.73. The stock has a market cap of $50.69 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.45 billion for the quarter, compared to analysts' expectations of $8.06 billion. During the same quarter last year, the company earned $4.14 earnings per share. The firm's revenue was down 1.1% compared to the same quarter last year. Research analysts forecast that Cummins Inc. will post 20.62 EPS for the current fiscal year.

Cummins 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.