Adirondack Trust Co. lowered its position in Cummins Inc. (NYSE:CMI) by 10.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 992 shares of the company’s stock after selling 115 shares during the period. Adirondack Trust Co.’s holdings in Cummins were worth $150,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in CMI. Acadian Asset Management LLC boosted its position in Cummins by 246.3% in the third quarter. Acadian Asset Management LLC now owns 9,552 shares of the company’s stock worth $1,224,000 after buying an additional 6,794 shares during the period. First Manhattan Co. boosted its position in Cummins by 4.2% in the third quarter. First Manhattan Co. now owns 997 shares of the company’s stock worth $127,000 after buying an additional 40 shares during the period. Nationwide Fund Advisors boosted its position in Cummins by 17.1% in the third quarter. Nationwide Fund Advisors now owns 164,117 shares of the company’s stock worth $21,032,000 after buying an additional 24,015 shares during the period. Cornerstone Advisors Inc. boosted its position in Cummins by 173.2% in the third quarter. Cornerstone Advisors Inc. now owns 1,467 shares of the company’s stock worth $188,000 after buying an additional 930 shares during the period. Finally, AGF Investments America Inc. boosted its position in Cummins by 12.8% in the third quarter. AGF Investments America Inc. now owns 20,522 shares of the company’s stock worth $2,630,000 after buying an additional 2,329 shares during the period. 80.81% of the stock is currently owned by institutional investors.
Cummins Inc. (NYSE:CMI) traded down 0.76% on Thursday, hitting $145.81. 556,109 shares of the stock were exchanged. The company has a 50-day moving average of $151.10 and a 200-day moving average of $140.75. The stock has a market cap of $24.42 billion, a price-to-earnings ratio of 17.72 and a beta of 1.27. Cummins Inc. has a 12 month low of $105.33 and a 12 month high of $155.51.
Cummins (NYSE:CMI) last posted its quarterly earnings data on Thursday, February 9th. The company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.02 by $0.23. Cummins had a net margin of 7.96% and a return on equity of 19.99%. The business had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the previous year, the firm posted $2.02 earnings per share. Cummins’s quarterly revenue was down 5.6% on a year-over-year basis. On average, equities analysts predict that Cummins Inc. will post $7.98 EPS for the current year.
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A number of equities research analysts recently weighed in on CMI shares. Vetr upgraded shares of Cummins from a “sell” rating to a “buy” rating and set a $144.50 target price on the stock in a report on Monday, December 19th. Barclays PLC restated an “underweight” rating on shares of Cummins in a report on Tuesday, January 3rd. BMO Capital Markets restated a “hold” rating and issued a $150.00 target price on shares of Cummins in a report on Friday, January 13th. Longbow Research upgraded shares of Cummins from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Thursday, January 19th. Finally, Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Tuesday, January 31st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. Cummins presently has an average rating of “Hold” and an average target price of $139.33.
Cummins Company Profile
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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