608 Shares in Cummins Inc. (NYSE:CMI) Bought by Kavar Capital Partners Group LLC

Kavar Capital Partners Group LLC bought a new position in Cummins Inc. (NYSE:CMI) during the 4th quarter, Holdings Channel.com reports. The fund bought 608 shares of the company’s stock, valued at approximately $212,000.

Other large investors have also made changes to their positions in the company. Global Trust Asset Management LLC boosted its stake in shares of Cummins by 59.6% during the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Cummins in the third quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Cummins during the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in Cummins in the 3rd quarter worth approximately $55,000. Finally, Friedenthal Financial bought a new stake in Cummins during the 4th quarter worth approximately $55,000. 83.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Cummins Trading Down 0.4 %

CMI stock opened at $367.45 on Monday. The company has a market capitalization of $50.41 billion, a PE ratio of 24.27, a P/E/G ratio of 1.69 and a beta of 1.01. The firm’s 50-day moving average is $363.94 and its 200 day moving average is $331.60. Cummins Inc. has a 12 month low of $236.00 and a 12 month high of $387.90. 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 (NYSE:CMI) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $8.29 billion. During the same period last year, the business posted $4.73 EPS. Cummins’s quarterly revenue was up .3% on a year-over-year basis. On average, research analysts anticipate that Cummins Inc. will post 21.92 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. Truist Financial boosted their price objective on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Jefferies Financial Group upped their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Eight investment 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 a consensus rating of “Moderate Buy” and an average 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.