Premier Path Wealth Partners LLC Has $477,000 Position in Cummins Inc. (NYSE:CMI)

Premier Path Wealth Partners LLC boosted its position in Cummins Inc. (NYSE:CMI) by 5.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,368 shares of the company’s stock after purchasing an additional 75 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Cummins were worth $477,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new stake in shares of Cummins in the third quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. bought a new position in Cummins in the third quarter valued at $34,000. Ashton Thomas Securities LLC acquired a new stake in Cummins in the 3rd quarter valued at $55,000. Friedenthal Financial bought a new stake in Cummins during the 4th quarter worth about $55,000. Finally, Bangor Savings Bank boosted its stake 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 buying an additional 35 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insiders Place Their Bets

In related news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 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

CMI has been the topic of a number of recent research reports. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research report on Wednesday, November 6th. Truist Financial upped their price objective on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 14th. Citigroup dropped their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group lifted their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Cummins has an average rating of “Hold” and a consensus price target of $374.25.

Cummins Stock Down 0.1 %

Shares of CMI opened at $365.98 on Friday. The firm has a market cap of $50.21 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. 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 Inc. has a 52 week low of $226.52 and a 52 week high of $387.90. The firm’s 50-day simple moving average is $363.33 and its 200 day simple moving average is $327.38.

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

About Cummins

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.