Dakota Wealth Management Acquires 3,310 Shares of Cummins Inc. (NYSE:CMI)

Dakota Wealth Management lifted its holdings in shares of Cummins Inc. (NYSE:CMI) by 9.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,485 shares of the company’s stock after acquiring an additional 3,310 shares during the quarter. Dakota Wealth Management’s holdings in Cummins were worth $13,764,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp boosted its stake in shares of Cummins by 2.1% during the 3rd quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after acquiring an additional 126,703 shares during the period. Fisher Asset Management LLC lifted its holdings in Cummins by 5.8% during the 3rd quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after purchasing an additional 165,398 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in Cummins by 31,489.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after purchasing an additional 2,523,854 shares during the last quarter. Legal & General Group Plc lifted its holdings in Cummins by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock worth $468,503,000 after purchasing an additional 31,190 shares during the last quarter. Finally, FMR LLC lifted its holdings in Cummins by 0.8% during the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company’s stock worth $380,484,000 after purchasing an additional 9,245 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a report on Wednesday, November 6th. The Goldman Sachs Group lifted their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, Truist Financial lifted their price objective on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. 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, the company presently has an average rating of “Moderate Buy” and an average target price of $374.25.

Cummins Trading Up 0.2 %

Shares of CMI stock opened at $367.18 on Wednesday. The firm has a market capitalization of $50.37 billion, a P/E ratio of 24.25, a P/E/G ratio of 1.69 and a beta of 1.01. Cummins Inc. has a twelve month low of $229.50 and a twelve month high of $387.90. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $363.49 and its 200 day simple moving average is $328.85.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. Cummins’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.73 EPS. As a group, sell-side analysts predict that Cummins Inc. will post 21.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,427,503.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 6,489 shares of company stock worth $2,357,531 in the last 90 days. Insiders own 0.56% of the company’s stock.

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.