Livforsakringsbolaget Skandia Omsesidigt Boosts Holdings in Cummins Inc. (NYSE:CMI)

Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 26.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,240 shares of the company's stock after acquiring an additional 8,300 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Cummins were worth $12,693,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CMI. Security National Bank of SO Dak lifted its holdings in shares of Cummins by 2.4% during the 4th quarter. Security National Bank of SO Dak now owns 7,991 shares of the company's stock worth $1,914,000 after acquiring an additional 185 shares during the period. Sanibel Captiva Trust Company Inc. acquired a new position in Cummins during the 4th quarter worth approximately $17,178,000. Quarry LP increased its position in Cummins by 258.5% during the 4th quarter. Quarry LP now owns 147 shares of the company's stock worth $35,000 after purchasing an additional 106 shares in the last quarter. V Square Quantitative Management LLC increased its position in Cummins by 35.6% during the 4th quarter. V Square Quantitative Management LLC now owns 2,398 shares of the company's stock worth $574,000 after purchasing an additional 630 shares in the last quarter. Finally, Sierra Summit Advisors LLC acquired a new position in Cummins during the 4th quarter worth approximately $1,196,000. Institutional investors own 83.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CMI. Evercore ISI upped their price objective on shares of Cummins from $290.00 to $294.00 and gave the stock an "in-line" rating in a research report on Monday, August 19th. Barclays upped their price objective on shares of Cummins from $259.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Monday, August 5th. Raymond James started coverage on shares of Cummins in a research report on Friday, June 28th. They issued a "market perform" rating for the company. JPMorgan Chase & Co. upped their price target on shares of Cummins from $285.00 to $340.00 and gave the company an "underweight" rating in a research report on Friday. Finally, Truist Financial upped their price target on shares of Cummins from $349.00 to $371.00 and gave the company a "hold" rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $311.55.

Cummins Trading Up 1.0 %

Shares of CMI traded up $3.22 during trading hours on Friday, hitting $336.07. 412,743 shares of the stock were exchanged, compared to its average volume of 1,585,927. Cummins Inc. has a fifty-two week low of $212.80 and a fifty-two week high of $337.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82. The business has a 50-day moving average of $308.33 and a 200-day moving average of $293.44. The firm has a market capitalization of $45.97 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98.

Cummins (NYSE:CMI - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $5.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.85 by $0.41. The business had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.33 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. Cummins's revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.18 earnings per share. On average, research analysts expect that Cummins Inc. will post 19.77 EPS for the current year.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 4,780 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the transaction, the vice president now directly owns 20,873 shares of the company's stock, valued at $6,269,205.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the firm's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the transaction, the vice president now directly owns 20,873 shares of the company's stock, valued at approximately $6,269,205.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tony Satterthwaite sold 24,250 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the transaction, the senior vice president now directly owns 77,442 shares in the company, valued at $23,870,722.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

Cummins Company 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.