UniSuper Management Pty Ltd Has $5.31 Million Stock Position in Cummins Inc. $CMI

by · The Cerbat Gem

UniSuper Management Pty Ltd grew its holdings in shares of Cummins Inc. (NYSE:CMI – Free Report) by 9.5% during the third quarter, Holdings Channel reports. The firm owned 12,561 shares of the company’s stock after purchasing an additional 1,085 shares during the period. UniSuper Management Pty Ltd’s holdings in Cummins were worth $5,305,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Flagship Wealth Advisors LLC acquired a new position in Cummins during the third quarter worth $28,000. Osterweis Capital Management Inc. acquired a new stake in shares of Cummins in the second quarter worth about $31,000. Salomon & Ludwin LLC boosted its stake in shares of Cummins by 1,333.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after acquiring an additional 80 shares in the last quarter. Tripletail Wealth Management LLC bought a new stake in shares of Cummins during the 3rd quarter worth about $39,000. Finally, CNB Bank acquired a new position in shares of Cummins during the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Buying and Selling

In other Cummins news, CFO Mark Andrew Smith sold 13,110 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $470.66, for a total value of $6,170,352.60. Following the completion of the sale, the chief financial officer owned 31,582 shares in the company, valued at approximately $14,864,384.12. This trade represents a 29.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brett Michael Merritt sold 1,450 shares of Cummins stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total value of $709,514.00. Following the sale, the insider directly owned 9,271 shares in the company, valued at $4,536,485.72. The trade was a 13.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,330 shares of company stock valued at $9,135,364 over the last three months. 0.41% of the stock is owned by corporate insiders.

Cummins Trading Down 2.0%

Shares of CMI stock opened at $571.34 on Monday. The firm has a market capitalization of $78.87 billion, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12. Cummins Inc. has a 1 year low of $260.02 and a 1 year high of $587.55. The firm’s fifty day simple moving average is $520.97 and its 200 day simple moving average is $446.25. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52.

Cummins (NYSE:CMI – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported $5.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $7.97 billion. During the same period last year, the business posted $5.86 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Truist Financial boosted their target price on Cummins from $628.00 to $653.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Raymond James Financial raised shares of Cummins from a “market perform” rating to an “outperform” rating and set a $585.00 price target on the stock in a research report on Monday, December 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Cummins in a research note on Monday, December 29th. Citigroup raised their target price on shares of Cummins from $580.00 to $630.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Finally, UBS Group upgraded shares of Cummins from a “sell” rating to a “neutral” rating in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $520.79.

Check Out Our Latest Report on Cummins

Cummins Profile

(Free Report)

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.

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