Wealth Alliance Sells 102 Shares of Cummins Inc. (NYSE:CMI)

Wealth Alliance lowered its stake in Cummins Inc. (NYSE:CMIFree Report) by 6.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,539 shares of the company’s stock after selling 102 shares during the quarter. Wealth Alliance’s holdings in Cummins were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Innovis Asset Management LLC raised its stake in shares of Cummins by 28.1% in the third quarter. Innovis Asset Management LLC now owns 4,091 shares of the company’s stock worth $935,000 after buying an additional 897 shares during the period. Oliver Luxxe Assets LLC raised its stake in shares of Cummins by 1.5% in the third quarter. Oliver Luxxe Assets LLC now owns 17,341 shares of the company’s stock worth $3,962,000 after buying an additional 264 shares during the period. Blair William & Co. IL raised its stake in shares of Cummins by 4.6% in the third quarter. Blair William & Co. IL now owns 13,319 shares of the company’s stock worth $3,043,000 after buying an additional 582 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Cummins by 15.4% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,481 shares of the company’s stock worth $6,507,000 after buying an additional 3,792 shares during the period. Finally, Davidson Trust Co. raised its stake in shares of Cummins by 9.7% in the third quarter. Davidson Trust Co. now owns 1,684 shares of the company’s stock worth $385,000 after buying an additional 149 shares during the period. Institutional investors own 81.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CMI shares. TD Cowen lifted their target price on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Bank of America downgraded Cummins from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $243.00 to $225.00 in a research note on Friday, January 19th. StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 16th. Morgan Stanley initiated coverage on Cummins in a research note on Monday, January 8th. They issued an “overweight” rating and a $278.00 price objective on the stock. Finally, TheStreet downgraded Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $261.67.

Check Out Our Latest Report on CMI

Cummins Price Performance

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

Cummins (NYSE:CMIGet Free Report) last announced its earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The company had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. Cummins’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.52 EPS. Equities analysts expect that Cummins Inc. will post 18.64 EPS for the current year.

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.

See Also

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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