Prime Capital Investment Advisors LLC Purchases 209 Shares of Cummins Inc. (NYSE:CMI)

Prime Capital Investment Advisors LLC increased its stake in Cummins Inc. (NYSE:CMIFree Report) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,992 shares of the company’s stock after acquiring an additional 209 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Cummins were worth $1,826,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC lifted its stake in Cummins by 89.6% in the second quarter. Sequoia Financial Advisors LLC now owns 2,031 shares of the company’s stock worth $498,000 after purchasing an additional 960 shares during the last quarter. Kestra Private Wealth Services LLC lifted its stake in Cummins by 6.8% in the second quarter. Kestra Private Wealth Services LLC now owns 3,926 shares of the company’s stock worth $962,000 after purchasing an additional 251 shares during the last quarter. Townsend & Associates Inc lifted its stake in Cummins by 77.9% in the third quarter. Townsend & Associates Inc now owns 34,975 shares of the company’s stock worth $7,528,000 after purchasing an additional 15,320 shares during the last quarter. Epoch Investment Partners Inc. lifted its stake in Cummins by 3.3% in the second quarter. Epoch Investment Partners Inc. now owns 471,959 shares of the company’s stock worth $115,705,000 after purchasing an additional 15,077 shares during the last quarter. Finally, RFG Advisory LLC lifted its stake in Cummins by 1.7% in the second quarter. RFG Advisory LLC now owns 3,502 shares of the company’s stock worth $859,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $251.78 on Monday. The company’s 50 day moving average is $238.98 and its 200 day moving average is $233.16. The company has a quick ratio of 0.74, a current ratio of 1.18 and a debt-to-equity ratio of 0.48. Cummins Inc. has a 52-week low of $203.18 and a 52-week high of $265.28. The firm has a market cap of $35.69 billion, a price-to-earnings ratio of 48.61, a PEG ratio of 1.68 and a beta of 1.02.

Cummins (NYSE:CMIGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The firm had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same period in the prior year, the firm posted $4.52 earnings per share. Cummins’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Cummins Inc. will post 18.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CMI shares. Morgan Stanley started coverage on shares of Cummins in a research note on Monday, January 8th. They set an “overweight” rating and a $278.00 price target for the company. TD Cowen lifted their price target on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 16th. JPMorgan Chase & Co. decreased their price target on shares of Cummins from $255.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, January 18th. Finally, Bank of America lowered shares of Cummins from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $243.00 to $225.00 in a report on Friday, January 19th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $261.67.

Check Out Our Latest Stock Report on Cummins

About Cummins

(Free Report)

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 New Power. 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 new parts and services, as well as remanufactured parts and engines.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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