Callan Family Office LLC Has $847,000 Holdings in Cummins Inc. $CMI

Callan Family Office LLC lifted its position in shares of Cummins Inc. (NYSE:CMI) by 108.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,585 shares of the company’s stock after buying an additional 1,346 shares during the quarter. Callan Family Office LLC’s holdings in Cummins were worth $847,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Court Place Advisors LLC increased its position in shares of Cummins by 6.4% during the second quarter. Court Place Advisors LLC now owns 1,343 shares of the company’s stock worth $440,000 after buying an additional 81 shares during the period. Blair William & Co. IL grew its holdings in Cummins by 3.0% in the second quarter. Blair William & Co. IL now owns 44,982 shares of the company’s stock worth $14,731,000 after purchasing an additional 1,319 shares during the period. Leo Wealth LLC grew its holdings in Cummins by 10.8% in the second quarter. Leo Wealth LLC now owns 1,288 shares of the company’s stock worth $422,000 after purchasing an additional 126 shares during the period. Copperwynd Financial LLC grew its holdings in Cummins by 1.8% in the second quarter. Copperwynd Financial LLC now owns 3,321 shares of the company’s stock worth $1,088,000 after purchasing an additional 60 shares during the period. Finally, Tectonic Advisors LLC grew its holdings in Cummins by 13.2% in the second quarter. Tectonic Advisors LLC now owns 3,166 shares of the company’s stock worth $1,037,000 after purchasing an additional 369 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cummins news, VP Robert Enright sold 1,860 shares of Cummins stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $402.26, for a total value of $748,203.60. Following the sale, the vice president owned 955 shares of the company’s stock, valued at approximately $384,158.30. The trade was a 66.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Amy Rochelle Davis sold 5,002 shares of Cummins stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $402.88, for a total transaction of $2,015,205.76. Following the completion of the sale, the vice president directly owned 20,738 shares in the company, valued at approximately $8,354,925.44. This represents a 19.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,119 shares of company stock valued at $17,674,285. Company insiders own 0.41% of the company’s stock.

Cummins Stock Down 0.9%

CMI opened at $409.17 on Tuesday. The firm has a market capitalization of $56.38 billion, a P/E ratio of 19.24, a PEG ratio of 1.99 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 1.03. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $440.51. The company’s 50-day moving average is $408.16 and its 200 day moving average is $350.37.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.21 by $1.22. The business had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.45 billion. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.26 earnings per share. Research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on CMI. Barclays raised their price target on shares of Cummins from $381.00 to $387.00 and gave the stock an “equal weight” rating in a report on Monday, July 21st. Wells Fargo & Company upgraded shares of Cummins to an “overweight” rating in a report on Monday, August 11th. Weiss Ratings restated a “buy (b)” rating on shares of Cummins in a report on Saturday, September 27th. Melius upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a report on Wednesday, September 3rd. Finally, Zacks Research upgraded shares of Cummins from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cummins has an average rating of “Moderate Buy” and an average target price of $397.43.

About Cummins

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.