Several well-known investors have recently modified the number of shares of the company’s stock they own. NorthRock Partners LLC started a new stake in Cummins during the third quarter, and the investment was worth 222,000 dollars. During the third quarter, Aptus Capital Advisors LLC established a new position in the Cummins stock market. Approximately 205,000 dollars were the value of this investment. During the third quarter, Avantax Advisory Services Inc. increased the proportion of its holdings allocated to Cummins by 7.4%. The period’s conclusion resulted in Avantax Advisory Services Inc. having an additional 2,688 shares, bringing its total number of shares to 3,900, which had a value of $790.000. Moneco Advisors LLC increased its Cummins holdings by 4.1% during its third fiscal quarter. Moneco Advisors LLC has a total of 2,146 shares in the company, which have a value of $437,000 due to purchasing of 85 additional shares during the most recent fiscal quarter. Moneco Advisors LLC purchased these shares. During the third quarter, Lee Financial Company increased Cummins’s ownership by 932.3%. As a result of the company’s purchase of an additional 289 shares during that period, Lee Financial Co. now has a total of 320 shares of the company, and the value of those shares collectively amounts to $65,000. At this point, 80.94% of the company’s stock is owned by institutional investors.
The most recent quarterly earnings report for Cummins was released on November 3rd and can be located by searching for the ticker symbol “NYSE: CMI.” The company’s quarterly earnings came in at $3.21 per share, which was $1.67 less than the average projection of $4.88 per share. The revenue for the quarter came in at $7.33 billion, which was significantly higher than the $6.96 billion that analysts had anticipated the revenue would be. Cummins had a return on equity of 22.48%, and their net margin was 7.32%. Overall, the company did very well. During the current fiscal year, Cummins Inc. is expected to generate revenue of $16.94 per share, by projections made by specialists in the relevant industry.
After a gain of $2.54 throughout the trading day on Monday, the NYSE CMI reached a new high of $252.65. Thirty-four thousand two hundred fifty-four shares of the company’s stock were traded, a significantly lower volume than the company’s typical trading volume of 786,067 shares. The company has a price-to-earnings ratio of 18.84, a price-to-earnings-to-growth ratio of 1.34, and a beta value of 1.04. These are all measures of how the market values the company. There is 35.63 billion dollars worth of value associated with the company. The moving averages for the company over the previous 50 days are $244.35, and over the previous 200 days, they are $226.37. There is a debt-to-equity ratio of 0.58, a quick ratio of 0.84, a current ratio of 1.37, and a quick ratio of 1.37. All of these ratios are in the same ballpark. During the last 52 weeks, the share price of Cummins Inc. has fluctuated between a low of $184.27 and a high of $254.09 at various points.
According to reports from other sources, on October 31st, business insider Tracy A. Embree sold 6,804 shares of the company’s stock. This information was made public by the company. The total is currently calculated to be 1,633,844 dollars. The total number of shares sold was 52, and the price received for each share was, on average, $240.13. After the completion of the transaction, the company insider is now the direct owner of 18,436 shares of the company’s stock, which have a value of $4,427,036.68. If you follow this link, you will be taken to the filing submitted to the Securities and Exchange Commission, where the transaction was discussed, and it will take you there immediately. On Monday, October 31st, Tracy A. Embree completed the sale of 6,804 company stock shares, bringing us to another development on this topic. The cost per share was determined to be a weighted average of $240.13, which resulted in a transaction with a total value of 1,633,844.52 dollars. After the completion of the transaction, the company insider now directly owns 18,436 shares of the company, which have a value of $4,427,036.68. If you follow this link, you will be taken to the filing submitted to the Securities and Exchange Commission, where the transaction was discussed, and it will take you there immediately. Leo Allen In addition, Bruno V. Di, a director of the company, sold 950 shares of the company’s stock on November 16th. There was a total transaction of $237,785.00 worth of the company’s stock, with each share selling for an average of 250.30 dollars. Following the conclusion of the transaction, the director acquired 7,431 shares of company stock, which have a total value of $1,859,979.30. This is where you might find the disclosure pertaining to the sale. Recent transactions involving members of the company’s management team resulted in the sale of 105,348 shares with a total value of $26,034,039; the total number of shares owned by corporate insiders amounts to 1.05% of the total.
CMI has been the topic of numerous analyst reports that have been written. Citigroup stated that they would be increasing their price target for Cummins shares to $270.00 in a research note published on November 15th. In a research report published on Friday, November 4th, Credit Suisse Group increased its “outperform” rating on Cummins stock and raised its price objective from $266.00 to $304.00. Both of these changes were made. Deutsche Bank Aktiengesellschaft raised their price objective on Cummins shares from $221.00 to $225.00 and upgraded the stock from a “hold” rating to a “buy” rating in a research report that was published on Thursday, October 13th. UBS Group disclosed their decision to increase their price target for Cummins to $247.00 in a research note released on November 16th. In a research note published on Wednesday, December 14th, Morgan Stanley announced they had finally increased their price target on Cummins stock from $222.00 to $264.00.
Additionally, the firm categorized the stock as “equal weight.” There have been two buy recommendations made by equity research experts for the company, while there have been six recommendations for investors to hold onto their shares. According to Bloomberg, most market experts advise shareholders to “hold” the company’s shares. Their average price goal for the stock is $254.25, which indicates that they believe it will eventually reach this price.
Cummins Inc. is a multinational corporation that not only designs, manufactures, and markets diesel and natural gas engines, electric and hybrid powertrains, and related parts but also provides maintenance for these engines and systems. In addition to that, the company markets its wares on a global scale. There are five distinct business divisions that the company can be divided into the engine division, the distribution division, the components division, the power systems division, and the new power division. The company serves the markets for heavy- and medium-duty trucks, buses, recreational vehicles, light-duty automobiles, construction, mining, marine, rail, oil and gas, defense, and agricultural products by selling diesel and natural gas-powered engines, as well as new and remanufactured parts and engines, under the Cummins brand as well as other customer brands. The company’s products and services are distributed throughout these target markets.