Huntleigh Advisors Inc. Takes $2.27 Million Position in Cummins Inc. $CMI

Huntleigh Advisors Inc. bought a new stake in shares of Cummins Inc. (NYSE:CMI) in the third quarter, HoldingsChannel reports. The institutional investor bought 5,375 shares of the company’s stock, valued at approximately $2,270,000.

Other large investors also recently modified their holdings of the company. BNP Paribas grew its stake in Cummins by 1.8% during the second quarter. BNP Paribas now owns 1,422 shares of the company’s stock worth $466,000 after buying an additional 25 shares in the last quarter. Orca Wealth Management LLC lifted its holdings in shares of Cummins by 0.6% during the 2nd quarter. Orca Wealth Management LLC now owns 4,609 shares of the company’s stock worth $1,509,000 after acquiring an additional 28 shares during the period. Bowman & Co S.C. boosted its position in shares of Cummins by 1.0% during the 3rd quarter. Bowman & Co S.C. now owns 2,964 shares of the company’s stock worth $1,259,000 after acquiring an additional 29 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Cummins by 1.0% in the second quarter. V Square Quantitative Management LLC now owns 3,285 shares of the company’s stock valued at $1,076,000 after acquiring an additional 31 shares during the last quarter. Finally, Empirical Finance LLC raised its position in Cummins by 0.7% during the second quarter. Empirical Finance LLC now owns 4,919 shares of the company’s stock valued at $1,611,000 after purchasing an additional 32 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Price Performance

Shares of CMI opened at $565.86 on Wednesday. The business has a 50-day moving average of $514.41 and a 200-day moving average of $441.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.77 and a quick ratio of 1.11. The company has a market capitalization of $78.11 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 2.03 and a beta of 1.12. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $583.08.

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

Analyst Ratings Changes

CMI has been the topic of several research analyst reports. Truist Financial raised their price objective on Cummins from $628.00 to $653.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Weiss Ratings restated a “buy (b-)” rating on shares of Cummins in a research note on Monday, December 29th. Zacks Research upgraded shares of Cummins from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. UBS Group upgraded shares of Cummins from a “sell” rating to a “neutral” rating in a research report on Tuesday, November 25th. Finally, Citigroup boosted their target price on shares of Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Cummins presently has an average rating of “Moderate Buy” and an average price target of $513.07.

Insider Buying and Selling

In related news, CFO Mark Andrew Smith sold 13,110 shares of Cummins stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $470.66, for a total value of $6,170,352.60. Following the completion of the sale, the chief financial officer owned 31,582 shares of the company’s stock, valued at approximately $14,864,384.12. This trade represents a 29.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $709,514.00. Following the transaction, the insider owned 9,271 shares in the company, valued at approximately $4,536,485.72. This trade represents a 13.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,330 shares of company stock worth $9,135,364 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Cummins Company 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.