Valeo Financial Advisors LLC Reduces Position in Cummins Inc. $CMI

Valeo Financial Advisors LLC decreased its holdings in Cummins Inc. (NYSE:CMI) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,147 shares of the company’s stock after selling 916 shares during the period. Valeo Financial Advisors LLC’s holdings in Cummins were worth $4,708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CMI. Motley Fool Asset Management LLC increased its holdings in Cummins by 9.7% during the 2nd quarter. Motley Fool Asset Management LLC now owns 7,018 shares of the company’s stock worth $2,298,000 after acquiring an additional 623 shares during the period. Applied Finance Capital Management LLC grew its position in shares of Cummins by 14.4% during the 2nd quarter. Applied Finance Capital Management LLC now owns 60,797 shares of the company’s stock valued at $19,910,000 after purchasing an additional 7,656 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of Cummins by 2.1% in the third quarter. New York State Teachers Retirement System now owns 111,911 shares of the company’s stock worth $47,268,000 after purchasing an additional 2,305 shares during the period. Bailard Inc. raised its position in shares of Cummins by 7.2% in the third quarter. Bailard Inc. now owns 59,830 shares of the company’s stock worth $25,270,000 after buying an additional 4,035 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Cummins by 6.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 277,958 shares of the company’s stock worth $91,054,000 after buying an additional 17,566 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling at Cummins

In other news, CEO Jennifer Rumsey sold 4,570 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $473.89, for a total transaction of $2,165,677.30. Following the sale, the chief executive officer owned 42,880 shares in the company, valued at approximately $20,320,403.20. The trade was a 9.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brett Michael Merritt sold 1,450 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total transaction of $709,514.00. Following the completion of the sale, the insider directly owned 9,271 shares in the company, valued at $4,536,485.72. This represents a 13.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 19,330 shares of company stock valued at $9,135,364. 0.41% of the stock is currently owned by company insiders.

Cummins Stock Performance

Cummins stock opened at $576.30 on Wednesday. The firm has a 50-day moving average of $525.47 and a 200-day moving average of $449.54. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $587.55. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. The firm has a market cap of $79.55 billion, a P/E ratio of 29.91, a P/E/G ratio of 2.00 and a beta of 1.12.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Thursday, November 6th. The company reported $5.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.76. The company had revenue of $8.32 billion for the quarter, compared to analysts’ expectations of $7.97 billion. Cummins had a net margin of 7.95% and a return on equity of 26.02%. Cummins’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.86 earnings per share. Sell-side analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group upgraded Cummins from a “sell” rating to a “neutral” rating in a research note on Tuesday, November 25th. JPMorgan Chase & Co. upped their price objective on shares of Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Citigroup lifted their target price on shares of Cummins from $580.00 to $630.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Truist Financial boosted their price target on shares of Cummins from $628.00 to $653.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Finally, Wolfe Research cut shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price objective on the stock. in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $522.07.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.