Atria Investments LLC Buys 775 Shares of Cummins Inc. (NYSE:CMI)

Atria Investments LLC grew its stake in shares of Cummins Inc. (NYSE:CMIGet Rating) by 6.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,255 shares of the company’s stock after acquiring an additional 775 shares during the period. Atria Investments LLC’s holdings in Cummins were worth $2,494,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. West Financial Advisors LLC bought a new position in Cummins in the third quarter worth approximately $26,000. Charter Oak Capital Management LLC bought a new position in Cummins in the second quarter worth approximately $29,000. Crewe Advisors LLC raised its stake in Cummins by 77.0% in the second quarter. Crewe Advisors LLC now owns 177 shares of the company’s stock worth $34,000 after buying an additional 77 shares in the last quarter. CNB Bank raised its stake in Cummins by 65.2% in the second quarter. CNB Bank now owns 190 shares of the company’s stock worth $37,000 after buying an additional 75 shares in the last quarter. Finally, New Millennium Group LLC bought a new position in Cummins in the second quarter worth approximately $39,000. Institutional investors own 80.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CMI shares. UBS Group boosted their price objective on shares of Cummins to $247.00 in a research note on Wednesday, November 16th. Morgan Stanley lifted their price target on shares of Cummins from $222.00 to $264.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 14th. Citigroup lifted their price target on shares of Cummins to $270.00 in a report on Tuesday, November 15th. StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cummins from $221.00 to $225.00 and gave the stock a “hold” rating in a report on Thursday, October 13th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $254.25.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,442 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $251.76, for a total transaction of $614,797.92. Following the completion of the transaction, the vice president now directly owns 16,348 shares in the company, valued at $4,115,772.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Sharon R. Barner sold 2,442 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $251.76, for a total transaction of $614,797.92. Following the completion of the transaction, the vice president now directly owns 16,348 shares in the company, valued at $4,115,772.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leo Allen Bruno V. Di sold 950 shares of the business’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $250.30, for a total transaction of $237,785.00. Following the transaction, the director now owns 7,431 shares of the company’s stock, valued at $1,859,979.30. The disclosure for this sale can be found here. Insiders sold 105,348 shares of company stock worth $26,034,039 over the last three months. Company insiders own 1.05% of the company’s stock.

Cummins Price Performance

Shares of CMI opened at $252.65 on Tuesday. The firm has a market capitalization of $35.63 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.37 and a quick ratio of 0.84. Cummins Inc. has a 1-year low of $184.27 and a 1-year high of $254.09. The company’s fifty day moving average price is $244.67 and its 200-day moving average price is $226.78.

Cummins (NYSE:CMIGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $4.88 by ($1.67). The company had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $6.96 billion. Cummins had a net margin of 7.32% and a return on equity of 22.48%. On average, equities research analysts predict that Cummins Inc. will post 16.94 EPS for the current year.

About Cummins

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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 New Power. 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 new parts and services, as well as remanufactured parts and engines.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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