Quantum Financial Advisors LLC Purchases Shares of 608 Cummins Inc. (NYSE:CMI)

Quantum Financial Advisors LLC acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 608 shares of the company’s stock, valued at approximately $212,000.

A number of other institutional investors also recently modified their holdings of CMI. Federated Hermes Inc. boosted its stake in Cummins by 43.5% in the second quarter. Federated Hermes Inc. now owns 14,463 shares of the company’s stock worth $4,005,000 after purchasing an additional 4,384 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new position in Cummins during the 2nd quarter worth about $321,000. Oppenheimer Asset Management Inc. grew its holdings in Cummins by 34.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,956 shares of the company’s stock worth $819,000 after acquiring an additional 758 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Cummins by 1.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 640,999 shares of the company’s stock worth $177,512,000 after acquiring an additional 8,082 shares during the last quarter. Finally, Plato Investment Management Ltd increased its position in Cummins by 3,576.1% in the 2nd quarter. Plato Investment Management Ltd now owns 5,992 shares of the company’s stock valued at $1,659,000 after acquiring an additional 5,829 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Up 1.7 %

Shares of NYSE CMI opened at $360.80 on Tuesday. The company’s fifty day moving average is $362.62 and its 200-day moving average is $325.60. The stock has a market cap of $49.49 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 1.78 and a beta of 0.99. Cummins Inc. has a twelve month low of $226.52 and a twelve month 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 posted its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $4.73 earnings per share. Equities research analysts predict that Cummins Inc. will post 20.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CMI. Truist Financial increased their price target on shares of Cummins from $369.00 to $424.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Jefferies Financial Group lifted their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a research report on Wednesday, November 6th. The Goldman Sachs Group raised their price target on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $374.58.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the transaction, the vice president now owns 20,803 shares in the company, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is owned by company insiders.

Cummins Company 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.