Union Bancaire Privee UBP SA Purchases New Holdings in Cummins Inc. (NYSE:CMI)

Union Bancaire Privee UBP SA acquired a new position in Cummins Inc. (NYSE:CMI) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 18,574 shares of the company’s stock, valued at approximately $6,284,000.

Other institutional investors have also recently bought and sold shares of the company. Global Trust Asset Management LLC boosted its holdings in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Cummins in the third quarter worth about $32,000. Kathleen S. Wright Associates Inc. purchased a new position in Cummins in the third quarter valued at about $34,000. Friedenthal Financial bought a new position in shares of Cummins during the 4th quarter valued at approximately $55,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Cummins during the 3rd quarter worth approximately $55,000. Institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Jefferies Financial Group upped their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and upped their price target for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Vertical Research lowered 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 boosted their price target on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $374.25.

Insiders Place Their Bets

In related news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at $7,427,503.12. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 6,489 shares of company stock valued at $2,357,531 over the last 90 days. Insiders own 0.56% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $367.45 on Monday. The firm has a market capitalization of $50.41 billion, a P/E ratio of 24.27, a P/E/G ratio of 1.69 and a beta of 1.01. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $363.94 and its two-hundred day simple moving average is $331.20. Cummins Inc. has a twelve month low of $236.00 and a twelve month high of $387.90.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. Cummins’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the firm posted $4.73 earnings per share. As a group, equities analysts anticipate that Cummins Inc. will post 21.92 EPS for the current fiscal 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.