Cvfg LLC Buys Shares of 1,375 Cummins Inc. (NYSE:CMI)

Cvfg LLC acquired a new position in Cummins Inc. (NYSE:CMI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,375 shares of the company's stock, valued at approximately $479,000.

Other institutional investors also recently made changes to their positions in the company. State Street Corp grew its position in Cummins by 2.1% during the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company's stock worth $2,039,894,000 after acquiring an additional 126,703 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company's stock worth $973,174,000 after purchasing an additional 165,398 shares during the last quarter. Pathway Financial Advisers LLC increased its stake in shares of Cummins by 31,489.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock worth $819,794,000 after buying an additional 2,523,854 shares during the period. Legal & General Group Plc raised its holdings in Cummins by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company's stock valued at $468,503,000 after buying an additional 31,190 shares during the last quarter. Finally, FMR LLC boosted its position in Cummins by 0.8% during the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company's stock valued at $380,484,000 after buying an additional 9,245 shares during the period. Hedge funds and other institutional investors own 83.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CMI. StockNews.com downgraded shares of Cummins from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. raised Cummins from an "underweight" rating to a "neutral" rating and upped their price target for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Robert W. Baird lifted their price objective on Cummins from $330.00 to $372.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Truist Financial upped their target price on Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a report on Thursday. Finally, Citigroup cut their price target on shares of Cummins from $435.00 to $430.00 and set a "buy" rating on the stock in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $374.25.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the transaction, the vice president now owns 20,803 shares in the company, valued at $7,678,803.36. The trade was a 9.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 6,489 shares of company stock valued at $2,357,531. Insiders own 0.56% of the company's stock.

Cummins Stock Down 0.1 %

NYSE CMI traded down $0.35 during trading hours on Friday, reaching $365.98. 810,985 shares of the company's stock traded hands, compared to its average volume of 614,062. Cummins Inc. has a 52-week low of $226.52 and a 52-week high of $387.90. 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 firm has a 50-day simple moving average of $363.14 and a 200 day simple moving average of $326.73. The firm has a market cap of $50.21 billion, a PE ratio of 24.17, a PEG ratio of 1.61 and a beta of 1.01.

Cummins (NYSE:CMI - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period last year, the business earned $4.73 earnings per share. The business's revenue was up .3% on a year-over-year basis. Sell-side analysts anticipate that Cummins Inc. will post 20.75 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.