Barlow Wealth Partners Inc. Cuts Stock Position in Cummins Inc. (NYSE:CMI)

Barlow Wealth Partners Inc. decreased its holdings in Cummins Inc. (NYSE:CMI) by 18.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,266 shares of the company’s stock after selling 10,521 shares during the quarter. Cummins comprises approximately 2.0% of Barlow Wealth Partners Inc.’s portfolio, making the stock its 20th biggest holding. Barlow Wealth Partners Inc.’s holdings in Cummins were worth $15,347,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Personal CFO Solutions LLC acquired a new stake in Cummins in the fourth quarter valued at $234,000. Ossiam raised its holdings in shares of Cummins by 12.0% during the 4th quarter. Ossiam now owns 3,905 shares of the company’s stock valued at $936,000 after buying an additional 418 shares during the period. Elo Mutual Pension Insurance Co raised its holdings in shares of Cummins by 4.4% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 12,366 shares of the company’s stock valued at $2,963,000 after buying an additional 518 shares during the period. Jacobi Capital Management LLC raised its holdings in shares of Cummins by 1.1% during the 4th quarter. Jacobi Capital Management LLC now owns 10,666 shares of the company’s stock valued at $2,555,000 after buying an additional 114 shares during the period. Finally, Nebula Research & Development LLC purchased a new stake in Cummins during the 4th quarter worth approximately $729,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of CMI traded up $3.64 during mid-day trading on Wednesday, hitting $333.25. The stock had a trading volume of 24,037 shares, compared to its average volume of 1,595,830. Cummins Inc. has a fifty-two week low of $212.80 and a fifty-two week high of $333.97. The company has a market cap of $45.58 billion, a PE ratio of 24.12, a PEG ratio of 1.81 and a beta of 0.98. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $306.06 and its two-hundred day simple moving average is $292.54.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CMI. Robert W. Baird lifted their price objective on Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on Cummins from $275.00 to $285.00 and gave the stock an “underweight” rating in a report on Friday, August 2nd. Evercore ISI lifted their price objective on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Citigroup began coverage on Cummins in a report on Wednesday, June 26th. They set a “buy” rating and a $320.00 price objective on the stock. Finally, Truist Financial lifted their price objective on Cummins from $315.00 to $349.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $299.55.

Insider Activity at Cummins

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

Cummins 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.