XML Financial LLC Has $3.39 Million Stock Position in Cummins Inc. (NYSE:CMI)

XML Financial LLC cut its holdings in Cummins Inc. (NYSE:CMI) by 6.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,713 shares of the company’s stock after selling 650 shares during the quarter. XML Financial LLC’s holdings in Cummins were worth $3,386,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Prospera Private Wealth LLC acquired a new position in shares of Cummins during the third quarter worth $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Cummins in the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC bought a new position in Cummins in the third quarter valued at about $55,000. Friedenthal Financial acquired a new stake in shares of Cummins during the fourth quarter valued at about $55,000. Finally, Bangor Savings Bank grew its holdings in shares of Cummins by 24.6% during the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after purchasing an additional 35 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Cummins stock opened at $367.18 on Wednesday. The stock’s 50 day moving average price is $363.49 and its two-hundred day moving average price is $328.85. The stock has a market capitalization of $50.37 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 1.69 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. Cummins Inc. has a 52-week low of $229.50 and a 52-week high of $387.90.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the firm earned $4.73 earnings per share. Cummins’s revenue was up .3% on a year-over-year basis. On average, equities analysts predict that Cummins Inc. will post 21.92 earnings per share for the current year.

Insider Activity

In other news, VP Sharon R. Barner sold 2,001 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 of the company’s stock, valued at $7,456,419.29. This represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 in the last three months. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Truist Financial lifted their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $355.00 to $420.00 in a report on Monday, December 9th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a report on Wednesday, November 6th. Finally, StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.