Union Bancaire Privee UBP SA Invests $6.28 Million in Cummins Inc. (NYSE:CMI)

Union Bancaire Privee UBP SA bought a new position in Cummins Inc. (NYSE:CMI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 18,574 shares of the company’s stock, valued at approximately $6,284,000.

A number of other large investors have also recently added to or reduced their stakes in CMI. Global Trust Asset Management LLC boosted its position in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Cummins during the third quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Cummins during the third quarter worth approximately $34,000. Friedenthal Financial bought a new stake in shares of Cummins during the fourth quarter worth approximately $55,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Cummins in the third quarter valued at approximately $55,000. Institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 6,489 shares of company stock worth $2,357,531. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

CMI has been the topic of several research reports. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and upped their price target for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Truist Financial boosted their price target on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, Jefferies Financial Group increased their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $374.25.

Cummins Stock Performance

NYSE:CMI opened at $367.45 on Monday. The stock’s 50-day moving average is $363.94 and its 200-day moving average is $331.20. The stock has a market cap of $50.41 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. Cummins Inc. has a 1-year low of $236.00 and a 1-year high of $387.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last posted 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 return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period in the previous year, the firm earned $4.73 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts anticipate that Cummins Inc. will post 21.92 earnings per share for the current year.

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.