Greenleaf Trust Buys 42 Shares of Cummins Inc. (NYSE:CMI)

Greenleaf Trust boosted its stake in Cummins Inc. (NYSE:CMI) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,110 shares of the company’s stock after purchasing an additional 42 shares during the period. Greenleaf Trust’s holdings in Cummins were worth $2,827,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. PFG Investments LLC lifted its stake in shares of Cummins by 27.7% during the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after buying an additional 485 shares in the last quarter. Mariner Investment Group LLC bought a new stake in Cummins in the 4th quarter valued at $1,046,000. CWM LLC increased its holdings in Cummins by 17.4% in the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after acquiring an additional 1,786 shares during the last quarter. Alpha DNA Investment Management LLC bought a new stake in Cummins in the 3rd quarter valued at $748,000. Finally, Franklin Resources Inc. increased its holdings in Cummins by 74.2% in the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after acquiring an additional 99,464 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 6,490 shares of company stock valued at $2,357,880. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CMI. The Goldman Sachs Group lifted their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Vertical Research downgraded 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. Truist Financial boosted their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $374.25.

Cummins Price Performance

Cummins stock opened at $356.25 on Monday. The stock has a market cap of $48.87 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 1.63 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins Inc. has a 1 year low of $236.00 and a 1 year high of $387.90. The firm has a 50-day moving average of $362.75 and a two-hundred day moving average of $333.59.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $4.73 EPS. On average, research analysts forecast that Cummins Inc. will post 20.62 earnings per share for the current year.

Cummins Profile

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.