Quantum Financial Advisors LLC Invests $212,000 in Cummins Inc. (NYSE:CMI)

Quantum Financial Advisors LLC acquired a new position in Cummins Inc. (NYSE:CMI) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 608 shares of the company’s stock, valued at approximately $212,000.

Other large investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new position in shares of Cummins during the 3rd quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new stake in Cummins during the third quarter worth about $34,000. Friedenthal Financial acquired a new position in Cummins during the fourth quarter valued at approximately $55,000. Ashton Thomas Securities LLC bought a new position in Cummins in the third quarter valued at approximately $55,000. Finally, Bangor Savings Bank increased its position in shares of Cummins by 24.6% during the 4th quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 in the company, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 6,489 shares of company stock worth $2,357,531 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CMI shares. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a report on Wednesday, November 6th. Truist Financial lifted their price objective on shares of Cummins from $369.00 to $424.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and upped their target price for the company from $354.00 to $358.00 in a report on Tuesday. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Eight equities research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $374.58.

Cummins Trading Up 1.7 %

Shares of Cummins stock opened at $360.80 on Tuesday. Cummins Inc. has a 52-week low of $226.52 and a 52-week high of $387.90. The stock has a market cap of $49.49 billion, a PE ratio of 23.83, a PEG ratio of 1.78 and a beta of 0.99. The firm has a 50-day moving average of $362.62 and a 200-day moving average of $325.60. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the prior year, the business posted $4.73 EPS. The business’s revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts forecast that Cummins Inc. will post 20.75 EPS for the current year.

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.