Apollon Wealth Management LLC Has $4.04 Million Stock Position in Cummins Inc. (NYSE:CMI)

Apollon Wealth Management LLC raised its position in Cummins Inc. (NYSE:CMI) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,592 shares of the company’s stock after buying an additional 732 shares during the period. Apollon Wealth Management LLC’s holdings in Cummins were worth $4,041,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CMI. Atomi Financial Group Inc. increased its holdings in Cummins by 9.1% during the 3rd quarter. Atomi Financial Group Inc. now owns 1,338 shares of the company’s stock valued at $433,000 after purchasing an additional 112 shares in the last quarter. CWM LLC increased its stake in shares of Cummins by 17.4% in the third quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after buying an additional 1,786 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of Cummins by 8.3% in the third quarter. Wedmont Private Capital now owns 1,330 shares of the company’s stock valued at $441,000 after buying an additional 102 shares during the last quarter. Independence Bank of Kentucky lifted its position in Cummins by 1,617.2% during the 3rd quarter. Independence Bank of Kentucky now owns 2,490 shares of the company’s stock worth $806,000 after buying an additional 2,345 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Cummins by 26.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 39,240 shares of the company’s stock worth $12,693,000 after acquiring an additional 8,300 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total value of $784,065.87. Following the completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at $7,540,879.47. This trade represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 6,328 shares of company stock valued at $2,300,040 in the last three months. 0.56% of the stock is currently owned by corporate insiders.

Cummins Price Performance

NYSE CMI opened at $372.12 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 1.31. Cummins Inc. has a 52-week low of $247.53 and a 52-week high of $387.90. The business has a 50 day simple moving average of $361.82 and a 200 day simple moving average of $335.77. The stock has a market cap of $51.05 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 2.10 and a beta of 1.00.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the business posted $4.14 earnings per share. Analysts anticipate that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CMI shares. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Citigroup reduced their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Truist Financial lifted 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. The Goldman Sachs Group upped their price target on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Barclays lifted their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $383.08.

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.