Stone Summit Wealth LLC Has $3.29 Million Position in Cummins Inc. (NYSE:CMI)

Stone Summit Wealth LLC decreased its position in Cummins Inc. (NYSE:CMI) by 2.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 9,439 shares of the company’s stock after selling 234 shares during the period. Cummins comprises 1.1% of Stone Summit Wealth LLC’s portfolio, making the stock its 28th biggest position. Stone Summit Wealth LLC’s holdings in Cummins were worth $3,290,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. HTLF Bank acquired a new stake in shares of Cummins in the fourth quarter valued at approximately $200,000. Compass Financial Services Inc bought a new stake in Cummins during the fourth quarter worth about $27,000. Kestra Private Wealth Services LLC boosted its position in Cummins by 28.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 5,711 shares of the company’s stock valued at $1,991,000 after purchasing an additional 1,254 shares during the last quarter. Stephens Inc. AR grew its stake in Cummins by 9.1% in the fourth quarter. Stephens Inc. AR now owns 1,364 shares of the company’s stock valued at $475,000 after purchasing an additional 114 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Cummins by 2.9% during the 4th quarter. Empowered Funds LLC now owns 25,336 shares of the company’s stock worth $8,832,000 after purchasing an additional 719 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total transaction of $784,065.87. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,540,879.47. This represents a 9.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 4,327 shares of company stock valued at $1,582,821. 0.56% of the stock is currently owned by company insiders.

Cummins Stock Performance

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 firm has a market cap of $51.05 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 2.10 and a beta of 1.00. The stock’s fifty day moving average price is $361.82 and its two-hundred day moving average price is $336.13. Cummins Inc. has a one year low of $247.53 and a one year high of $387.90.

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

Analysts Set New Price Targets

Several research firms have recently commented on CMI. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. Citigroup decreased their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Barclays upped their target price on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Jefferies Financial Group boosted their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $383.08.

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.