Cummins Inc. $CMI Shares Purchased by WealthShield Partners LLC

WealthShield Partners LLC boosted its holdings in Cummins Inc. (NYSE:CMI) by 20.6% during the third quarter, HoldingsChannel.com reports. The fund owned 5,468 shares of the company’s stock after acquiring an additional 934 shares during the period. WealthShield Partners LLC’s holdings in Cummins were worth $2,310,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Stock Yards Bank & Trust Co. lifted its holdings in shares of Cummins by 0.4% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 5,917 shares of the company’s stock worth $2,499,000 after purchasing an additional 24 shares during the last quarter. Whittier Trust Co. lifted its stake in Cummins by 0.9% in the third quarter. Whittier Trust Co. now owns 2,667 shares of the company’s stock valued at $1,154,000 after buying an additional 24 shares during the last quarter. BNP Paribas lifted its stake in Cummins by 1.8% in the second quarter. BNP Paribas now owns 1,422 shares of the company’s stock valued at $466,000 after buying an additional 25 shares during the last quarter. Orca Wealth Management LLC boosted its holdings in shares of Cummins by 0.6% during the second quarter. Orca Wealth Management LLC now owns 4,609 shares of the company’s stock valued at $1,509,000 after acquiring an additional 28 shares during the period. Finally, Bowman & Co S.C. increased its holdings in shares of Cummins by 1.0% in the 3rd quarter. Bowman & Co S.C. now owns 2,964 shares of the company’s stock worth $1,259,000 after acquiring an additional 29 shares during the period. 83.46% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Brett Michael Merritt sold 1,450 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total value of $709,514.00. Following the completion of the transaction, the insider owned 9,271 shares in the company, valued at $4,536,485.72. This trade represents a 13.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer Rumsey sold 4,570 shares of Cummins stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $473.89, for a total value of $2,165,677.30. Following the completion of the transaction, the chief executive officer directly owned 42,880 shares in the company, valued at $20,320,403.20. This represents a 9.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 19,330 shares of company stock valued at $9,135,364 over the last three months. Insiders own 0.41% of the company’s stock.

Cummins Stock Performance

NYSE:CMI opened at $571.34 on Monday. The company has a 50-day moving average of $520.97 and a 200-day moving average of $446.25. The firm has a market cap of $78.87 billion, a price-to-earnings ratio of 29.65, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12. 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 Inc. has a twelve month low of $260.02 and a twelve month high of $587.55.

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

Wall Street Analysts Forecast Growth

CMI has been the subject of several recent analyst reports. Citigroup upped their target price on shares of Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Barclays increased their price objective on Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a report on Friday. Wall Street Zen raised Cummins from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Sanford C. Bernstein reissued a “market perform” rating and issued a $475.00 price target on shares of Cummins in a research note on Friday, November 7th. Finally, UBS Group raised Cummins from a “sell” rating to a “neutral” rating in a report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $520.79.

Cummins Company 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.