Cummins Inc. (CMI) Shares Sold by Stephens Inc. AR
Stephens Inc. AR cut its holdings in Cummins Inc. (NYSE:CMI) by 13.3% during the fourth quarter, HoldingsChannel reports. The firm owned 3,130 shares of the company’s stock after selling 482 shares during the quarter. Stephens Inc. AR’s holdings in Cummins were worth $553,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in CMI. Boston Partners bought a new stake in Cummins in the 3rd quarter worth approximately $416,229,000. Old Mutual Global Investors UK Ltd. increased its stake in Cummins by 203.7% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 926,242 shares of the company’s stock worth $155,636,000 after acquiring an additional 621,292 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Cummins by 96.4% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 860,614 shares of the company’s stock worth $152,019,000 after acquiring an additional 422,411 shares during the last quarter. APG Asset Management N.V. increased its stake in Cummins by 22.6% in the 3rd quarter. APG Asset Management N.V. now owns 1,960,772 shares of the company’s stock worth $329,469,000 after acquiring an additional 361,800 shares during the last quarter. Finally, Koch Industries Inc. bought a new stake in Cummins in the 2nd quarter worth approximately $318,000. 83.06% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have issued reports on CMI. Zacks Investment Research raised Cummins from a “hold” rating to a “buy” rating and set a $193.00 price objective on the stock in a research note on Friday. TheStreet downgraded Cummins from a “b” rating to a “c+” rating in a research note on Tuesday, February 6th. Credit Suisse Group reduced their price objective on Cummins from $208.00 to $205.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Robert W. Baird lifted their price objective on Cummins from $157.00 to $159.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 7th. Finally, Deutsche Bank set a $169.00 price objective on Cummins and gave the stock a “sell” rating in a research note on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $188.18.
Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.65 by $0.38. The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.23 billion. Cummins had a return on equity of 22.18% and a net margin of 4.89%. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.25 EPS. analysts forecast that Cummins Inc. will post 12.44 earnings per share for the current year.
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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