Exxonmobil Investment Management Inc. TX lowered its position in shares of Cummins Inc. (NYSE:CMI) by 13.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,806 shares of the company’s stock after selling 3,967 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Cummins were worth $4,382,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Fulton Bank N.A. lifted its position in Cummins by 53.7% during the fourth quarter. Fulton Bank N.A. now owns 13,598 shares of the company’s stock valued at $2,402,000 after buying an additional 4,753 shares during the period. Prudential Financial Inc. lifted its position in Cummins by 44.0% during the third quarter. Prudential Financial Inc. now owns 769,014 shares of the company’s stock valued at $129,217,000 after buying an additional 235,092 shares during the period. Atlantic Trust Group LLC lifted its position in Cummins by 6.1% during the third quarter. Atlantic Trust Group LLC now owns 29,102 shares of the company’s stock valued at $4,890,000 after buying an additional 1,674 shares during the period. Parametric Portfolio Associates LLC lifted its position in Cummins by 2.9% during the third quarter. Parametric Portfolio Associates LLC now owns 609,290 shares of the company’s stock valued at $102,379,000 after buying an additional 17,200 shares during the period. Finally, AXA lifted its position in Cummins by 9.9% during the third quarter. AXA now owns 102,189 shares of the company’s stock valued at $17,170,000 after buying an additional 9,189 shares during the period. 82.31% of the stock is owned by institutional investors and hedge funds.

Cummins Inc. (NYSE:CMI) opened at $183.90 on Friday. Cummins Inc. has a 52-week low of $134.06 and a 52-week high of $184.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03. The firm has a market capitalization of $30,520.00, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.30 and a beta of 1.14.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.47 by $0.24. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $4.79 billion. During the same quarter in the previous year, the firm earned $2.02 EPS. Cummins’s revenue was up 26.2% on a year-over-year basis. equities analysts forecast that Cummins Inc. will post 10.2 earnings per share for the current year.

Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Barclays assumed coverage on Cummins in a research report on Tuesday, December 12th. They issued an “equal weight” rating and a $180.00 price target for the company. Piper Jaffray Companies set a $175.00 price target on Cummins and gave the stock a “hold” rating in a research report on Sunday, December 10th. Oppenheimer assumed coverage on Cummins in a research report on Thursday, December 7th. They issued an “outperform” rating and a $192.00 price target for the company. Finally, Goldman Sachs Group lowered Cummins from a “buy” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, November 30th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $178.69.

TRADEMARK VIOLATION WARNING: This news story was reported by Daily Political and is owned by of Daily Political. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of United States and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.dailypolitical.com/2018/01/12/exxonmobil-investment-management-inc-tx-sells-3967-shares-of-cummins-inc-cmi.html.

About Cummins

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.

Want to see what other hedge funds are holding CMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cummins Inc. (NYSE:CMI).

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.