Nordwand Advisors LLC Raises Stock Holdings in Cummins Inc. $CMI

Nordwand Advisors LLC boosted its holdings in Cummins Inc. (NYSE:CMI) by 9.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,617 shares of the company’s stock after purchasing an additional 1,762 shares during the period. Cummins comprises 1.4% of Nordwand Advisors LLC’s holdings, making the stock its 21st largest position. Nordwand Advisors LLC’s holdings in Cummins were worth $8,708,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Salomon & Ludwin LLC boosted its holdings in shares of Cummins by 1,333.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after buying an additional 80 shares during the last quarter. Tripletail Wealth Management LLC bought a new stake in Cummins in the third quarter worth about $39,000. Osterweis Capital Management Inc. purchased a new position in Cummins in the second quarter valued at about $31,000. SJS Investment Consulting Inc. grew its position in shares of Cummins by 1,414.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $45,000 after acquiring an additional 99 shares during the period. Finally, Financial Consulate Inc. bought a new position in shares of Cummins during the 3rd quarter valued at approximately $45,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jennifer Rumsey sold 4,570 shares of Cummins stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $473.89, for a total transaction of $2,165,677.30. Following the completion of the sale, the chief executive officer owned 42,880 shares of the company’s stock, valued at approximately $20,320,403.20. This trade represents a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brett Michael Merritt sold 1,450 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was 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 of the company’s stock, valued at approximately $4,536,485.72. The trade was a 13.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 19,330 shares of company stock worth $9,135,364 in the last three months. Corporate insiders own 0.41% of the company’s stock.

Cummins Trading Up 0.9%

Shares of CMI opened at $580.15 on Tuesday. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $583.08. The stock has a market cap of $80.08 billion, a PE ratio of 30.11, a P/E/G ratio of 2.03 and a beta of 1.12. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 0.52. The business’s 50-day moving average price is $512.61 and its 200-day moving average price is $439.36.

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

Analyst Ratings Changes

A number of research firms recently commented on CMI. Wells Fargo & Company started coverage on shares of Cummins in a report on Thursday, November 13th. They issued an “overweight” rating and a $599.00 price target on the stock. Zacks Research raised Cummins from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Wall Street Zen raised Cummins from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Sanford C. Bernstein reissued a “market perform” rating and issued a $475.00 price objective on shares of Cummins in a report on Friday, November 7th. Finally, Truist Financial boosted their price objective on Cummins from $628.00 to $653.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Cummins presently has an average rating of “Moderate Buy” and a consensus price target of $513.07.

About Cummins

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.