3,000 Shares in Cummins Inc. (NYSE:CMI) Acquired by Mariner Investment Group LLC

Mariner Investment Group LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,000 shares of the company's stock, valued at approximately $1,046,000. Cummins comprises about 0.2% of Mariner Investment Group LLC's holdings, making the stock its 20th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in CMI. State Street Corp boosted 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 purchasing an additional 126,703 shares during the period. Fisher Asset Management LLC boosted its position in Cummins by 5.8% in 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 during the last quarter. Pathway Financial Advisers LLC boosted its position in Cummins by 31,489.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock valued at $819,794,000 after buying an additional 2,523,854 shares during the last quarter. FMR LLC boosted its position in Cummins by 0.8% in 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 last quarter. Finally, International Assets Investment Management LLC boosted its position in Cummins by 38,765.8% in the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company's stock valued at $315,616,000 after buying an additional 972,247 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,001 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $358.43, for a total transaction of $717,218.43. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,456,419.29. This trade represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 6,489 shares of company stock worth $2,357,531. Corporate insiders own 0.56% of the company's stock.

Cummins Price Performance

Shares of Cummins stock traded down $19.35 on Monday, hitting $348.27. The company had a trading volume of 1,396,943 shares, compared to its average volume of 738,797. The business has a 50-day simple moving average of $363.94 and a 200-day simple moving average of $331.60. 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 company has a market cap of $47.78 billion, a PE ratio of 23.00, a PEG ratio of 1.69 and a beta of 1.01. Cummins Inc. has a 52 week low of $236.00 and a 52 week high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data 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. 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 business's revenue was up .3% on a year-over-year basis. During the same period last year, the firm posted $4.73 earnings per share. Research analysts expect that Cummins Inc. will post 21.92 EPS for the current fiscal year.

Analysts Set New Price Targets

CMI has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. Robert W. Baird upped their target price on shares of Cummins from $330.00 to $372.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Jefferies Financial Group upped their target price on shares of Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Bank of America upgraded shares of Cummins from an "underperform" rating to a "neutral" rating and upped their target price for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Finally, Evercore ISI upgraded shares of Cummins from an "in-line" rating to an "outperform" rating and upped their target price for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cummins currently has an average rating of "Moderate Buy" and a consensus price target of $374.25.

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.