Cummins Inc. (NYSE:CMI) Shares Acquired by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB grew its stake in shares of Cummins Inc. (NYSE:CMI) by 27.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,380 shares of the company’s stock after acquiring an additional 1,390 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Cummins were worth $2,224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Global Trust Asset Management LLC increased its holdings in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Prospera Private Wealth LLC purchased a new stake in Cummins in the third quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Cummins in the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new position in Cummins during the 3rd quarter worth approximately $55,000. Finally, Friedenthal Financial acquired a new stake in Cummins during the 4th quarter valued at approximately $55,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Trading Up 0.8 %

Shares of NYSE:CMI opened at $372.12 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79. The business’s 50 day moving average price is $361.82 and its 200-day moving average price is $336.13. The firm has a market capitalization of $51.05 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. Cummins Inc. has a 1 year low of $247.53 and a 1 year high of $387.90.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.14 earnings per share. On average, equities research analysts forecast that Cummins Inc. will post 22.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 4,327 shares of company stock worth $1,582,821. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CMI shares. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $354.00 to $358.00 in a research note on Tuesday, January 14th. The Goldman Sachs Group increased their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $355.00 to $420.00 in a report on Monday, December 9th. Truist Financial raised their target price on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Cummins presently has an average rating of “Hold” and a consensus target price of $383.08.

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.