Dakota Wealth Management Has $13.76 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

Dakota Wealth Management increased its position in shares of Cummins Inc. (NYSE:CMI) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,485 shares of the company’s stock after acquiring an additional 3,310 shares during the quarter. Dakota Wealth Management’s holdings in Cummins were worth $13,764,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CMI. Prospera Private Wealth LLC acquired a new position in Cummins in the third quarter valued at about $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Cummins in the third quarter valued at about $34,000. Ashton Thomas Securities LLC acquired a new position in Cummins in the third quarter valued at about $55,000. Friedenthal Financial acquired a new position in Cummins in the fourth quarter valued at about $55,000. Finally, Bangor Savings Bank lifted its stake in Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after buying an additional 35 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Up 0.2 %

NYSE:CMI opened at $367.18 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The company has a market cap of $50.37 billion, a PE ratio of 24.25, a PEG ratio of 1.69 and a beta of 1.01. Cummins Inc. has a 52-week low of $229.50 and a 52-week high of $387.90. The stock has a 50-day simple moving average of $363.49 and a 200 day simple moving average of $328.85.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The firm had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business’s revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned $4.73 earnings per share. On average, sell-side analysts expect that Cummins Inc. will post 21.92 EPS for the current fiscal year.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the transaction, the vice president now directly owns 20,803 shares in the company, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 over the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CMI has been the topic of several analyst reports. The Goldman Sachs Group increased their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Robert W. Baird raised their price target on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cummins has an average rating of “Moderate Buy” and an average price target of $374.25.

Cummins Company Profile

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.