Cummins Inc. (NYSE:CMI) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in Cummins Inc. (NYSE:CMI) by 37.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,372 shares of the company’s stock after buying an additional 644 shares during the quarter. GAMMA Investing LLC’s holdings in Cummins were worth $768,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CMI. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cummins by 8.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company’s stock valued at $2,342,001,000 after buying an additional 604,735 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Cummins in the 2nd quarter valued at approximately $68,018,000. SG Americas Securities LLC increased its stake in Cummins by 1,012.0% in the 2nd quarter. SG Americas Securities LLC now owns 197,068 shares of the company’s stock valued at $54,574,000 after purchasing an additional 179,346 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Cummins in the 2nd quarter valued at approximately $46,607,000. Finally, AXA S.A. increased its stake in Cummins by 247.5% in the 2nd quarter. AXA S.A. now owns 229,051 shares of the company’s stock valued at $63,431,000 after purchasing an additional 163,129 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cummins

In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the sale, the senior vice president now owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the sale, the senior vice president now owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sharon R. Barner sold 4,780 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the sale, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $6,269,205.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

Cummins Stock Performance

Cummins stock opened at $329.53 on Wednesday. The firm has a market capitalization of $45.07 billion, a P/E ratio of 24.12, a PEG ratio of 1.81 and a beta of 0.98. The stock has a fifty day moving average price of $305.25 and a 200 day moving average price of $292.27. Cummins Inc. has a 52 week low of $212.80 and a 52 week high of $333.48. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI) last released its earnings results on Thursday, August 1st. The company reported $5.26 EPS for the quarter, beating the consensus estimate of $4.85 by $0.41. The firm had revenue of $8.80 billion during the quarter, compared to analyst estimates of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.18 earnings per share. Equities research analysts anticipate that Cummins Inc. will post 19.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Raymond James assumed coverage on Cummins in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Truist Financial raised their price objective on Cummins from $315.00 to $349.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Barclays raised their price objective on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Evercore ISI raised their price objective on Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. raised their price target on Cummins from $275.00 to $285.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cummins has a consensus rating of “Hold” and an average target price of $299.55.

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.