SeaCrest Wealth Management LLC Has $340,000 Position in Cummins Inc. (NYSE:CMI)

SeaCrest Wealth Management LLC grew its holdings in Cummins Inc. (NYSE:CMIFree Report) by 6.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 974 shares of the company’s stock after purchasing an additional 56 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Cummins were worth $340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. boosted its stake in Cummins by 34.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,956 shares of the company’s stock worth $819,000 after acquiring an additional 758 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Cummins by 10.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,947 shares of the company’s stock worth $1,370,000 after purchasing an additional 457 shares in the last quarter. Blair William & Co. IL increased its position in Cummins by 4.1% in the 2nd quarter. Blair William & Co. IL now owns 24,685 shares of the company’s stock valued at $6,836,000 after buying an additional 961 shares in the last quarter. Seven Eight Capital LP bought a new position in Cummins in the second quarter worth approximately $479,000. Finally, Ieq Capital LLC grew its stake in Cummins by 13.9% in the second quarter. Ieq Capital LLC now owns 7,078 shares of the company’s stock valued at $1,960,000 after acquiring an additional 865 shares during the period. 83.46% of the stock is currently owned by institutional investors.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, the vice president now directly 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 SEC, which is available through the SEC website. Over the last quarter, insiders have sold 6,489 shares of company stock worth $2,357,531. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Jefferies Financial Group increased their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and raised their price target for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Citigroup decreased their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Truist Financial lifted their target price on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $374.25.

View Our Latest Analysis on CMI

Cummins Trading Down 0.1 %

Shares of Cummins stock opened at $365.98 on Friday. The stock has a fifty day moving average price of $363.14 and a 200-day moving average price of $326.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The firm has a market cap of $50.21 billion, a PE ratio of 24.17, a P/E/G ratio of 1.61 and a beta of 1.01. Cummins Inc. has a 1 year low of $226.52 and a 1 year high of $387.90.

Cummins (NYSE:CMIGet Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the firm posted $4.73 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts anticipate that Cummins Inc. will post 20.75 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 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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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