MGO One Seven LLC Purchases 10,270 Shares of Cummins Inc. $CMI

MGO One Seven LLC lifted its position in shares of Cummins Inc. (NYSE:CMI) by 321.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,467 shares of the company’s stock after buying an additional 10,270 shares during the quarter. MGO One Seven LLC’s holdings in Cummins were worth $5,688,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New York State Teachers Retirement System grew its holdings in Cummins by 2.1% during the 3rd quarter. New York State Teachers Retirement System now owns 111,911 shares of the company’s stock worth $47,268,000 after acquiring an additional 2,305 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Cummins by 1.8% during the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 5,557 shares of the company’s stock valued at $2,347,000 after purchasing an additional 96 shares in the last quarter. Citizens & Northern Corp bought a new stake in shares of Cummins during the 3rd quarter valued at about $253,000. Associated Banc Corp grew its stake in Cummins by 0.6% during the third quarter. Associated Banc Corp now owns 49,602 shares of the company’s stock worth $20,950,000 after purchasing an additional 315 shares during the period. Finally, Forum Financial Management LP grew its stake in Cummins by 14.0% during the third quarter. Forum Financial Management LP now owns 1,940 shares of the company’s stock worth $819,000 after purchasing an additional 238 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

CMI opened at $562.23 on Tuesday. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $562.80. The company has a market cap of $77.61 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 1.93 and a beta of 1.12. The company’s fifty day moving average price is $501.02 and its two-hundred day moving average price is $430.78. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, November 6th. The company reported $5.59 EPS for the quarter, topping the consensus estimate of $4.83 by $0.76. Cummins had a net margin of 7.95% and a return on equity of 26.02%. The company had revenue of $8.32 billion during the quarter, compared to the consensus estimate of $7.97 billion. During the same period in the previous year, the firm posted $5.86 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Insider Transactions at Cummins

In related news, CFO Mark Andrew Smith sold 13,110 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $470.66, for a total transaction of $6,170,352.60. Following the completion of the sale, the chief financial officer owned 31,582 shares in the company, valued at approximately $14,864,384.12. This represents a 29.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brett Michael Merritt sold 1,450 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $489.32, for a total value of $709,514.00. Following the transaction, the insider owned 9,271 shares in the company, valued at approximately $4,536,485.72. This trade represents a 13.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,330 shares of company stock valued at $9,135,364 over the last ninety days. 0.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Barclays reissued a “positive” rating on shares of Cummins in a research note on Friday, December 19th. Raymond James Financial upgraded shares of Cummins from a “market perform” rating to an “outperform” rating and set a $585.00 target price on the stock in a research report on Monday, December 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a research note on Monday, December 29th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $475.00 price target on shares of Cummins in a research note on Friday, November 7th. Finally, Citigroup upped their price objective on shares of Cummins from $530.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $492.75.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.