Patron Partners LLC Acquires 115 Shares of Cummins Inc. (NYSE:CMI)

Patron Partners LLC raised its holdings in shares of Cummins Inc. (NYSE:CMI) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,260 shares of the company’s stock after purchasing an additional 115 shares during the quarter. Patron Partners LLC’s holdings in Cummins were worth $788,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

CMI has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Truist Financial boosted their price target on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Robert W. Baird increased their target price on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research note on Wednesday, November 6th. Finally, Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cummins presently has a consensus rating of “Moderate Buy” and an average price target of $374.25.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 6,490 shares of company stock valued at $2,357,880 over the last 90 days. Insiders own 0.56% of the company’s stock.

Cummins Trading Down 2.3 %

Shares of Cummins stock opened at $348.16 on Tuesday. 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 $236.00 and a 52 week high of $387.90. The stock has a 50 day moving average price of $362.75 and a two-hundred day moving average price of $333.86. The stock has a market capitalization of $47.76 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business’s revenue was up .3% on a year-over-year basis. During the same period last year, the company earned $4.73 earnings per share. As a group, equities analysts anticipate that Cummins Inc. will post 20.62 earnings per share for the current fiscal year.

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.