Czech National Bank Purchases 1,826 Shares of Cummins Inc. (NYSE:CMI)

Czech National Bank boosted its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,744 shares of the company's stock after buying an additional 1,826 shares during the period. Czech National Bank's holdings in Cummins were worth $10,369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CMI. Pathway Financial Advisers LLC grew its position in 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 acquiring an additional 2,523,854 shares in the last quarter. International Assets Investment Management LLC boosted its holdings 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 worth $315,616,000 after purchasing an additional 972,247 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Cummins during the 2nd quarter valued at about $46,607,000. Fisher Asset Management LLC raised its holdings in shares of Cummins by 5.8% during the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company's stock valued at $973,174,000 after buying an additional 165,398 shares in the last quarter. Finally, AXA S.A. lifted its position in Cummins by 247.5% in the 2nd quarter. AXA S.A. now owns 229,051 shares of the company's stock worth $63,431,000 after buying an additional 163,129 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CMI. Truist Financial lifted their price target on shares of Cummins from $369.00 to $424.00 and gave the stock a "hold" rating in a research note on Thursday, December 19th. Evercore ISI upgraded shares of Cummins from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Vertical Research lowered shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 price target for the company. in a research report on Wednesday, November 6th. Bank of America upgraded Cummins from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $354.00 to $358.00 in a report on Tuesday. Finally, The Goldman Sachs Group increased their target price on Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $374.17.

Cummins Stock Up 0.8 %

Shares of Cummins stock traded up $2.99 during midday trading on Tuesday, hitting $364.06. The company had a trading volume of 582,895 shares, compared to its average volume of 576,624. 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 quick ratio of 0.79 and a current ratio of 1.32. The stock has a market capitalization of $49.94 billion, a P/E ratio of 24.05, a P/E/G ratio of 1.78 and a beta of 0.99. The company has a 50 day moving average of $362.62 and a 200 day moving average of $325.60.

Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 6.13% and a return on equity of 26.86%. Cummins's revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $4.73 EPS. On average, equities analysts predict that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 162 shares of the stock in a transaction that occurred on 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 in the company, valued at $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 in the last three months. Insiders own 0.56% of the company's stock.

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.