Cummins Inc. (NYSE:CMI) Shares Bought by Simon Quick Advisors LLC

Simon Quick Advisors LLC grew its position in shares of Cummins Inc. (NYSE:CMI) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 958 shares of the company’s stock after buying an additional 106 shares during the quarter. Simon Quick Advisors LLC’s holdings in Cummins were worth $334,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Marshall Wace LLP boosted its holdings in Cummins by 158.8% in the 2nd quarter. Marshall Wace LLP now owns 54,289 shares of the company’s stock valued at $15,034,000 after purchasing an additional 33,314 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Cummins by 54.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 26,199 shares of the company’s stock valued at $7,255,000 after buying an additional 9,276 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Cummins by 452.8% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,731 shares of the company’s stock valued at $756,000 after buying an additional 2,237 shares in the last quarter. AXA S.A. grew its holdings in Cummins by 247.5% during the second quarter. AXA S.A. now owns 229,051 shares of the company’s stock worth $63,431,000 after acquiring an additional 163,129 shares during the period. Finally, AQR Capital Management LLC raised its position in Cummins by 31.0% in the second quarter. AQR Capital Management LLC now owns 616,876 shares of the company’s stock worth $170,831,000 after acquiring an additional 145,921 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CMI. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their price objective on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Citigroup dropped their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Finally, Truist Financial raised their price objective on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $374.25.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 6,489 shares of company stock valued at $2,357,531. Company insiders own 0.56% of the company’s stock.

Cummins Stock Performance

NYSE CMI opened at $369.32 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a fifty-two week low of $234.49 and a fifty-two week high of $387.90. The business has a fifty day moving average of $363.72 and a 200-day moving average of $329.82. The stock has a market cap of $50.66 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth 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 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the company posted $4.73 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts predict that Cummins Inc. will post 21.92 earnings per share for the current fiscal year.

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.