Quad Cities Investment Group LLC lessened its holdings in Cummins Inc. (NYSE:CMI) by 13.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,261 shares of the company’s stock after selling 197 shares during the quarter. Quad Cities Investment Group LLC’s holdings in Cummins were worth $199,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Plimoth Trust Co. LLC boosted its stake in Cummins by 0.9% during the 4th quarter. Plimoth Trust Co. LLC now owns 7,639 shares of the company’s stock valued at $1,021,000 after purchasing an additional 70 shares during the last quarter. Wetherby Asset Management Inc. raised its holdings in shares of Cummins by 1.7% in the 4th quarter. Wetherby Asset Management Inc. now owns 4,578 shares of the company’s stock worth $612,000 after purchasing an additional 75 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of Cummins by 1.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,086 shares of the company’s stock worth $680,000 after purchasing an additional 75 shares during the period. Unison Advisors LLC raised its holdings in shares of Cummins by 0.7% in the 4th quarter. Unison Advisors LLC now owns 10,570 shares of the company’s stock worth $1,412,000 after purchasing an additional 77 shares during the period. Finally, Hudock Capital Group LLC raised its holdings in shares of Cummins by 12.8% in the 4th quarter. Hudock Capital Group LLC now owns 698 shares of the company’s stock worth $92,000 after purchasing an additional 79 shares during the period. Institutional investors own 82.08% of the company’s stock.
In other Cummins news, COO Richard Joseph Freeland sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $150.00, for a total transaction of $675,000.00. Following the sale, the chief operating officer now owns 4,500 shares of the company’s stock, valued at approximately $675,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Tracy A. Embree sold 206 shares of the company’s stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $150.00, for a total transaction of $30,900.00. Following the completion of the sale, the vice president now directly owns 4,221 shares in the company, valued at $633,150. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,816 shares of company stock valued at $1,039,321. 0.95% of the stock is currently owned by company insiders.
CMI has been the topic of a number of analyst reports. Royal Bank of Canada reissued a “hold” rating and set a $155.00 target price on shares of Cummins in a report on Monday, December 24th. Zacks Investment Research lowered shares of Cummins from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Credit Suisse Group reiterated a “buy” rating and issued a $168.00 target price on shares of Cummins in a research report on Tuesday, January 22nd. Robert W. Baird upgraded shares of Cummins from a “neutral” rating to an “outperform” rating and set a $148.40 target price for the company in a research report on Thursday, February 7th. Finally, Oppenheimer reiterated a “market perform” rating and issued a $164.00 target price on shares of Cummins in a research report on Thursday, February 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. Cummins currently has a consensus rating of “Hold” and an average target price of $163.19.
NYSE CMI traded up $0.63 on Wednesday, reaching $167.85. The company had a trading volume of 170,795 shares, compared to its average volume of 1,042,457. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.95 and a current ratio of 1.54. The company has a market cap of $26.64 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.14 and a beta of 1.09. Cummins Inc. has a 12 month low of $124.40 and a 12 month high of $172.08.
Cummins (NYSE:CMI) last announced its quarterly earnings results on Wednesday, February 6th. The company reported $3.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.81 by ($0.33). The company had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $6.08 billion. Cummins had a net margin of 9.01% and a return on equity of 29.71%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.03 earnings per share. As a group, analysts forecast that Cummins Inc. will post 15.47 EPS for the current fiscal year.
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Cummins Company Profile
Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.
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