Fairvoy Private Wealth LLC Makes New Investment in Cummins Inc. (NYSE:CMI)

Fairvoy Private Wealth LLC purchased a new position in Cummins Inc. (NYSE:CMI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,900 shares of the company’s stock, valued at approximately $3,451,000.

Several other hedge funds have also bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Cummins by 8.7% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,561 shares of the company’s stock worth $5,425,000 after purchasing an additional 1,245 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Cummins by 1.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 381,585 shares of the company’s stock valued at $133,021,000 after buying an additional 5,646 shares in the last quarter. Leo Wealth LLC raised its position in shares of Cummins by 11.1% during the 4th quarter. Leo Wealth LLC now owns 1,285 shares of the company’s stock valued at $448,000 after buying an additional 128 shares in the last quarter. Consolidated Portfolio Review Corp purchased a new stake in shares of Cummins during the 4th quarter valued at about $592,000. Finally, GHP Investment Advisors Inc. raised its position in shares of Cummins by 1.7% during the 4th quarter. GHP Investment Advisors Inc. now owns 18,151 shares of the company’s stock valued at $6,328,000 after buying an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Shares of CMI stock opened at $369.22 on Friday. 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 company has a market capitalization of $50.65 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.64 and a beta of 1.00. The company’s 50-day simple moving average is $361.92 and its two-hundred day simple moving average is $334.98. Cummins Inc. has a one year low of $247.23 and a one year high of $387.90.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.14 EPS. As a group, equities analysts anticipate that Cummins Inc. will post 20.62 EPS for the current year.

Insiders Place Their Bets

In other news, VP Sharon R. Barner sold 2,001 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $358.43, for a total transaction of $717,218.43. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,456,419.29. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 6,328 shares of company stock worth $2,300,040 in the last three months. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citigroup decreased their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Robert W. Baird upped their target price on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday. 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 research report on Friday, December 6th. Truist Financial upped their target price on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group upped their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $383.08.

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.