LexAurum Advisors LLC Has $387,000 Stock Position in Cummins Inc. (NYSE:CMI)

LexAurum Advisors LLC increased its stake in Cummins Inc. (NYSE:CMI) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,111 shares of the company’s stock after acquiring an additional 56 shares during the quarter. LexAurum Advisors LLC’s holdings in Cummins were worth $387,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Global Trust Asset Management LLC increased its holdings in shares of Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Cummins in the third quarter worth $32,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Cummins during the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Cummins during the 3rd quarter valued at $55,000. Finally, Friedenthal Financial bought a new stake in shares of Cummins during the 4th quarter valued at $55,000. 83.46% of the stock is owned by institutional investors and hedge funds.

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 that occurred on Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the transaction, the vice president now owns 20,803 shares in the company, valued at $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 6,489 shares of company stock worth $2,357,531 over the last 90 days. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CMI shares. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Truist Financial increased their target price on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a report on Wednesday, November 6th. Jefferies Financial Group increased their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. 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, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cummins has an average rating of “Moderate Buy” and an average price target of $374.25.

Cummins Trading Down 0.4 %

Shares of CMI stock opened at $367.45 on Friday. Cummins Inc. has a 12-month low of $236.00 and a 12-month high of $387.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock’s 50-day moving average price is $363.83 and its 200-day moving average price is $330.09. The stock has a market capitalization of $50.41 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the previous year, the firm posted $4.73 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts predict that Cummins Inc. will post 21.92 EPS for the current fiscal year.

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.