Cummins Inc. (NYSE:CMI) Shares Sold by Atwater Malick LLC

Atwater Malick LLC lessened its stake in Cummins Inc. (NYSE:CMI) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,693 shares of the company’s stock after selling 391 shares during the period. Cummins comprises about 4.2% of Atwater Malick LLC’s investment portfolio, making the stock its 10th largest position. Atwater Malick LLC’s holdings in Cummins were worth $12,443,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in 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 buying an additional 126,703 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Cummins by 5.8% during the third 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 stake in Cummins by 31,489.1% during the third 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 boosted its holdings in Cummins by 1.9% in the second 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 period. Finally, FMR LLC increased its stake in Cummins by 0.8% during the third quarter. FMR LLC now owns 1,175,096 shares of the company’s stock valued at $380,484,000 after purchasing an additional 9,245 shares during the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Performance

CMI stock opened at $365.98 on Friday. The company has a 50-day simple moving average of $363.14 and a 200 day simple moving average of $326.73. The company has a market capitalization of $50.21 billion, a P/E ratio of 24.17, a PEG ratio of 1.61 and a beta of 1.01. 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 $226.52 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings results 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. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the business posted $4.73 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Sell-side analysts predict that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Vertical Research lowered shares of 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. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Truist Financial increased their price target on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Robert W. Baird increased their target price on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cummins currently has a consensus rating of “Hold” and a consensus price target of $374.25.

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.