Cummins Inc. $CMI Stock Holdings Boosted by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd grew its position in shares of Cummins Inc. (NYSE:CMI) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,561 shares of the company’s stock after purchasing an additional 1,085 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Cummins were worth $5,305,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Motley Fool Asset Management LLC increased its holdings in shares of Cummins by 9.7% in the second quarter. Motley Fool Asset Management LLC now owns 7,018 shares of the company’s stock valued at $2,298,000 after buying an additional 623 shares in the last quarter. Applied Finance Capital Management LLC grew its holdings in shares of Cummins by 14.4% in the 2nd quarter. Applied Finance Capital Management LLC now owns 60,797 shares of the company’s stock worth $19,910,000 after acquiring an additional 7,656 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of Cummins by 2.1% in the 3rd quarter. New York State Teachers Retirement System now owns 111,911 shares of the company’s stock worth $47,268,000 after acquiring an additional 2,305 shares during the last quarter. Bailard Inc. raised its position in shares of Cummins by 7.2% during the third quarter. Bailard Inc. now owns 59,830 shares of the company’s stock worth $25,270,000 after purchasing an additional 4,035 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Cummins by 6.7% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 277,958 shares of the company’s stock valued at $91,054,000 after purchasing an additional 17,566 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CMI. Citigroup lifted their price target on Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. JPMorgan Chase & Co. lifted their target price on shares of Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Truist Financial boosted their price target on shares of Cummins from $628.00 to $653.00 and gave the company a “buy” rating in a report on Thursday, December 18th. UBS Group upgraded shares of Cummins from a “sell” rating to a “neutral” rating in a research report on Tuesday, November 25th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $475.00 price objective on shares of Cummins in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $520.79.

Cummins Stock Performance

Shares of CMI opened at $571.34 on Monday. The company has a market capitalization of $78.87 billion, a PE ratio of 29.65, a PEG ratio of 2.00 and a beta of 1.12. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.77. The company’s 50 day moving average price is $520.97 and its 200 day moving average price is $446.25. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $587.55.

Cummins (NYSE:CMI) last released its earnings results on Thursday, November 6th. The company reported $5.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.83 by $0.76. Cummins had a net margin of 7.95% and a return on equity of 26.02%. The company had revenue of $8.32 billion during the quarter, compared to the consensus estimate of $7.97 billion. During the same quarter in the prior year, the firm earned $5.86 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. Research analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jennifer Rumsey sold 4,570 shares of Cummins stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $473.89, for a total transaction of $2,165,677.30. Following the completion of the sale, the chief executive officer owned 42,880 shares of the company’s stock, valued at approximately $20,320,403.20. This trade represents a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brett Michael Merritt sold 1,450 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total value of $709,514.00. Following the completion of the transaction, the insider directly owned 9,271 shares in the company, valued at approximately $4,536,485.72. The trade was a 13.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 19,330 shares of company stock worth $9,135,364. Corporate insiders own 0.41% of the company’s stock.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.