National Wealth Management Group LLC Acquires Shares of 1,538 Cummins Inc. $CMI

National Wealth Management Group LLC bought a new position in shares of Cummins Inc. (NYSE:CMI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,538 shares of the company’s stock, valued at approximately $650,000.

Several other institutional investors have also modified their holdings of the business. Flagship Wealth Advisors LLC acquired a new stake in shares of Cummins during the third quarter worth approximately $28,000. Osterweis Capital Management Inc. bought a new stake in Cummins in the second quarter valued at about $31,000. Salomon & Ludwin LLC raised its stake in Cummins by 1,333.3% during the third quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock valued at $37,000 after buying an additional 80 shares in the last quarter. Tripletail Wealth Management LLC acquired a new position in shares of Cummins in the 3rd quarter worth approximately $39,000. Finally, CNB Bank acquired a new position in shares of Cummins in the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Raymond James Financial raised Cummins from a “market perform” rating to an “outperform” rating and set a $585.00 price target on the stock in a research report on Monday, December 22nd. Wells Fargo & Company raised their price target on shares of Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a research report on Friday. Argus boosted their price objective on shares of Cummins from $459.00 to $573.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Barclays increased their price objective on shares of Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $475.00 target price on shares of Cummins in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $520.79.

Insider Buying and Selling at Cummins

In other Cummins news, 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 transaction of $2,165,677.30. Following the transaction, the chief executive officer owned 42,880 shares of the company’s stock, valued at $20,320,403.20. The trade was a 9.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark Andrew Smith sold 13,110 shares of the stock in a transaction that occurred 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 directly owned 31,582 shares of the company’s stock, valued at $14,864,384.12. This trade represents a 29.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,330 shares of company stock valued at $9,135,364 in the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

Cummins Trading Down 2.0%

Shares of NYSE:CMI opened at $571.34 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.77. The stock has a market capitalization of $78.87 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 2.00 and a beta of 1.12. The company has a 50 day moving average price of $520.97 and a 200 day moving average price of $446.25. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $587.55.

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

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.