Cummins Inc. (CMI) Stake Boosted by Livforsakringsbolaget Skandia Omsesidigt
Livforsakringsbolaget Skandia Omsesidigt lifted its position in Cummins Inc. (NYSE:CMI) by 19.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 37,584 shares of the company’s stock after buying an additional 6,000 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cummins were worth $6,638,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Cummins by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 11,614,316 shares of the company’s stock valued at $1,884,074,000 after buying an additional 298,352 shares during the period. Boston Partners purchased a new stake in shares of Cummins in the 3rd quarter valued at $416,229,000. First Eagle Investment Management LLC raised its holdings in shares of Cummins by 2.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 1,997,863 shares of the company’s stock valued at $335,701,000 after buying an additional 39,674 shares during the period. FMR LLC raised its holdings in shares of Cummins by 43.8% in the 2nd quarter. FMR LLC now owns 1,989,718 shares of the company’s stock valued at $322,772,000 after buying an additional 606,085 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Cummins by 0.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,980,849 shares of the company’s stock valued at $332,843,000 after buying an additional 11,714 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.
Several brokerages have weighed in on CMI. Seaport Global Securities restated a “neutral” rating on shares of Cummins in a report on Tuesday. Zacks Investment Research downgraded Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Barclays began coverage on Cummins in a report on Tuesday, December 12th. They set an “equal weight” rating and a $180.00 price target on the stock. Piper Jaffray Companies set a $175.00 price target on Cummins and gave the stock a “hold” rating in a report on Sunday, December 10th. Finally, Oppenheimer began coverage on Cummins in a report on Thursday, December 7th. They set an “outperform” rating and a $192.00 price target on the stock. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. Cummins has an average rating of “Hold” and an average price target of $178.69.
Cummins Inc. (NYSE CMI) opened at $183.69 on Thursday. Cummins Inc. has a 1-year low of $138.48 and a 1-year high of $185.10. The company has a market capitalization of $30,297.37, a PE ratio of 18.65, a PEG ratio of 1.26 and a beta of 1.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03.
Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, October 31st. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.79 billion. During the same quarter in the prior year, the business posted $2.02 EPS. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. sell-side analysts forecast that Cummins Inc. will post 10.21 earnings per share for the current 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. 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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