Transform Wealth LLC Increases Stock Holdings in Cummins Inc. (NYSE:CMI)

Transform Wealth LLC boosted its holdings in Cummins Inc. (NYSE:CMI) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,284 shares of the company’s stock after acquiring an additional 2,289 shares during the period. Transform Wealth LLC’s holdings in Cummins were worth $13,346,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMI. Prospera Private Wealth LLC acquired a new position in shares of Cummins during the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new position in Cummins during the third quarter worth $34,000. Friedenthal Financial acquired a new position in shares of Cummins in the fourth quarter worth $55,000. Ashton Thomas Securities LLC purchased a new stake in shares of Cummins in the third quarter valued at $55,000. Finally, Bangor Savings Bank boosted its stake in shares of Cummins by 24.6% during the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 162 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 6,489 shares of company stock valued at $2,357,531 in the last three months. Corporate insiders own 0.56% of the company’s stock.

Cummins Stock Down 0.1 %

Shares of NYSE:CMI opened at $365.98 on Tuesday. The company has a market capitalization of $50.21 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. The company has a 50 day moving average of $363.49 and a two-hundred day moving average of $328.85. Cummins Inc. has a 52-week low of $226.52 and a 52-week high of $387.90. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the business posted $4.73 EPS. The firm’s revenue was up .3% compared to the same quarter last year. As a group, analysts forecast that Cummins Inc. will post 21.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a report on Wednesday, November 6th. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 14th. Jefferies Financial Group boosted their price target on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Truist Financial upped their target price on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $374.25.

About Cummins

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.