Cummins Inc. $CMI Shares Bought by Bogart Wealth LLC

Bogart Wealth LLC grew its stake in Cummins Inc. (NYSE:CMI) by 4,705.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 961 shares of the company’s stock after acquiring an additional 941 shares during the quarter. Bogart Wealth LLC’s holdings in Cummins were worth $406,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Osterweis Capital Management Inc. purchased a new position in Cummins in the 2nd quarter valued at about $31,000. Salomon & Ludwin LLC grew its holdings in shares of Cummins by 1,333.3% during the third quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after buying an additional 80 shares in the last quarter. Tripletail Wealth Management LLC acquired a new position in shares of Cummins in the third quarter valued at approximately $39,000. CNB Bank purchased a new position in shares of Cummins during the second quarter valued at approximately $43,000. Finally, SJS Investment Consulting Inc. lifted its stake in shares of Cummins by 1,414.3% during the third quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $45,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on CMI shares. Argus lifted their target price on shares of Cummins from $459.00 to $573.00 and gave the stock a “buy” rating in a research note on Tuesday, November 25th. Barclays reaffirmed a “positive” rating on shares of Cummins in a research report on Friday, December 19th. Truist Financial upped their target price on Cummins from $628.00 to $653.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. UBS Group upgraded Cummins from a “sell” rating to a “neutral” rating in a research report on Tuesday, November 25th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Cummins in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $505.07.

Insider Buying and Selling

In related news, CFO Mark Andrew Smith sold 13,110 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $470.66, for a total value of $6,170,352.60. Following the completion of the sale, the chief financial officer directly owned 31,582 shares in the company, valued at approximately $14,864,384.12. This represents a 29.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer Rumsey sold 4,570 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $473.89, for a total value of $2,165,677.30. Following the transaction, the chief executive officer owned 42,880 shares in the company, valued at approximately $20,320,403.20. This represents a 9.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 19,330 shares of company stock valued at $9,135,364. Company insiders own 0.41% of the company’s stock.

Cummins Stock Performance

Shares of NYSE:CMI opened at $566.99 on Wednesday. The business has a 50-day moving average of $503.79 and a two-hundred day moving average of $432.47. The firm has a market capitalization of $78.27 billion, a PE ratio of 29.42, a P/E/G ratio of 1.97 and a beta of 1.12. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.77 and a quick ratio of 1.11. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $569.68.

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

About Cummins

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.