Mariner Investment Group LLC Makes New $1.05 Million Investment in Cummins Inc. (NYSE:CMI)

Mariner Investment Group LLC purchased a new stake in Cummins Inc. (NYSE:CMI) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,000 shares of the company’s stock, valued at approximately $1,046,000. Cummins makes up approximately 0.2% of Mariner Investment Group LLC’s investment portfolio, making the stock its 20th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of CMI. Global Trust Asset Management LLC grew its position in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares in the last quarter. Chicago Capital LLC grew its holdings in shares of Cummins by 0.9% in the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock valued at $1,065,000 after acquiring an additional 30 shares in the last quarter. Equitable Trust Co. increased its position in shares of Cummins by 3.6% in the third quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after acquiring an additional 32 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in Cummins by 1.9% during the second quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after acquiring an additional 35 shares in the last quarter. Finally, Bangor Savings Bank raised its holdings in Cummins by 24.6% during the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after acquiring an additional 35 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 162 shares of the stock in a transaction dated Friday, November 8th. The shares were 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 $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 6,489 shares of company stock worth $2,357,531 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Cummins Stock Down 0.4 %

CMI stock opened at $367.45 on Monday. Cummins Inc. has a fifty-two week low of $236.00 and a fifty-two week high of $387.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The business’s fifty day moving average price is $363.94 and its two-hundred day moving average price is $331.60. The stock has a market capitalization of $50.41 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. The company had revenue of $8.46 billion for 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 for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm earned $4.73 earnings per share. On average, equities analysts anticipate that Cummins Inc. will post 21.92 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on CMI shares. 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 report on Wednesday, November 6th. Bank of America upgraded 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. Robert W. Baird upped their price target on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group upped their target price on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and a consensus price target of $374.25.

Cummins 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.