J2 Capital Management Inc Takes Position in Cummins Inc. (NYSE:CMI)

J2 Capital Management Inc acquired a new position in Cummins Inc. (NYSE:CMI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,877 shares of the company's stock, valued at approximately $654,000. Cummins comprises about 0.6% of J2 Capital Management Inc's investment portfolio, making the stock its 29th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blair William & Co. IL raised its holdings in Cummins by 4.1% during the 2nd quarter. Blair William & Co. IL now owns 24,685 shares of the company's stock worth $6,836,000 after purchasing an additional 961 shares during the last quarter. Seven Eight Capital LP bought a new position in Cummins during the second quarter worth $479,000. Ieq Capital LLC lifted its holdings in Cummins by 13.9% in the second quarter. Ieq Capital LLC now owns 7,078 shares of the company's stock valued at $1,960,000 after buying an additional 865 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Cummins by 2.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 28,999 shares of the company's stock valued at $8,031,000 after acquiring an additional 707 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Cummins by 44.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 145,309 shares of the company's stock worth $40,240,000 after acquiring an additional 44,762 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the company's stock in a transaction 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 in the company, valued at $7,678,803.36. This represents a 9.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is owned by insiders.

Cummins Stock Down 0.1 %

Shares of CMI stock traded down $0.35 during trading hours on Friday, reaching $365.98. The company had a trading volume of 810,985 shares, compared to its average volume of 505,817. The company has a market cap of $50.21 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth 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 Inc. has a 12 month low of $226.52 and a 12 month high of $387.90. The business has a fifty day simple moving average of $363.33 and a 200-day simple moving average of $327.80.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data 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. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business had revenue of $8.46 billion for the quarter, compared to analysts' expectations of $8.29 billion. During the same period last year, the business earned $4.73 EPS. The business's revenue was up .3% on a year-over-year basis. On average, research analysts expect that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on CMI. StockNews.com lowered Cummins from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, January 14th. Truist Financial increased their price target on Cummins from $424.00 to $425.00 and gave the stock a "hold" rating in a report on Thursday. Citigroup lowered their price objective on shares of Cummins from $435.00 to $430.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Robert W. Baird increased their target price on shares of Cummins from $330.00 to $372.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised shares of Cummins from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $374.25.

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.