Wealth Enhancement Advisory Services LLC Purchases 5,015 Shares of Cummins Inc. $CMI

Wealth Enhancement Advisory Services LLC raised its position in Cummins Inc. (NYSE:CMI) by 10.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,160 shares of the company’s stock after buying an additional 5,015 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Cummins were worth $22,212,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Osterweis Capital Management Inc. bought a new stake in Cummins during the 2nd quarter worth approximately $31,000. Salomon & Ludwin LLC boosted its stake in Cummins by 1,333.3% in the third quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after purchasing an additional 80 shares in the last quarter. Tripletail Wealth Management LLC acquired a new position in Cummins in the third quarter worth $39,000. CNB Bank bought a new stake in shares of Cummins during the second quarter worth $43,000. Finally, SJS Investment Consulting Inc. increased its stake in shares of Cummins by 1,414.3% in the third quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $45,000 after buying an additional 99 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity

In related news, CEO Jennifer Rumsey sold 4,570 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $473.89, for a total value of $2,165,677.30. Following the completion of the sale, the chief executive officer owned 42,880 shares in the company, valued at approximately $20,320,403.20. This represents a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brett Michael Merritt sold 1,450 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total value of $709,514.00. Following the transaction, the insider owned 9,271 shares of the company’s stock, valued at $4,536,485.72. The trade was a 13.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,330 shares of company stock valued at $9,135,364 in the last 90 days. 0.41% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays reiterated a “positive” rating on shares of Cummins in a research report on Friday, December 19th. Wall Street Zen raised shares of Cummins from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. UBS Group raised shares of Cummins from a “sell” rating to a “neutral” rating in a research note on Tuesday, November 25th. Wells Fargo & Company began coverage on shares of Cummins in a report on Thursday, November 13th. They issued an “overweight” rating and a $599.00 price target for the company. Finally, Argus boosted their price objective on shares of Cummins from $459.00 to $573.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and a consensus price target of $514.00.

Cummins Stock Up 2.8%

Shares of NYSE CMI opened at $581.53 on Thursday. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $584.70. The firm’s 50-day moving average is $516.47 and its 200-day moving average is $441.99. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $80.27 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 1.98 and a beta of 1.12.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Thursday, November 6th. The company reported $5.59 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.76. Cummins had a net margin of 7.95% and a return on equity of 26.02%. The business had revenue of $8.32 billion for the quarter, compared to analyst estimates of $7.97 billion. During the same period in the prior year, the business posted $5.86 earnings per share. Cummins’s revenue was down 1.6% compared to the same quarter last year. Equities analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.