Global Wealth Management Investment Advisory Inc. Invests $202,000 in Cummins Inc. (NYSE:CMI)

Global Wealth Management Investment Advisory Inc. bought a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 580 shares of the company’s stock, valued at approximately $202,000.

Several other large investors have also added to or reduced their stakes in the business. PFG Investments LLC boosted its position in shares of Cummins by 27.7% during the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after buying an additional 485 shares during the last quarter. Mariner Investment Group LLC purchased a new position in shares of Cummins during the fourth quarter valued at approximately $1,046,000. CWM LLC boosted its position in shares of Cummins by 17.4% during the third quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after buying an additional 1,786 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new position in shares of Cummins during the third quarter valued at approximately $748,000. Finally, Franklin Resources Inc. boosted its position in shares of Cummins by 74.2% during the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock valued at $79,017,000 after buying an additional 99,464 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analysts Set New Price Targets

CMI has been the topic of several analyst reports. Truist Financial lifted their target price on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Robert W. Baird lifted their price target on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a report on Wednesday, November 6th. Finally, Bank of America upgraded 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. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $383.08.

Insider Activity

In other news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total value of $784,065.87. Following the completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,540,879.47. The trade was a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 4,327 shares of company stock worth $1,582,821. 0.56% of the stock is owned by corporate insiders.

Cummins Stock Performance

Shares of CMI opened at $373.98 on Tuesday. The firm has a market cap of $51.30 billion, a PE ratio of 13.28, a PEG ratio of 2.10 and a beta of 1.00. The stock’s fifty day moving average price is $361.82 and its two-hundred day moving average price is $336.52. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79. Cummins Inc. has a 1 year low of $250.90 and a 1 year high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.14 earnings per share. On average, equities research analysts forecast that Cummins Inc. will post 22.57 EPS for the current 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.