November 30, 2016 - By Hazel Jackson
Based on an average market price per share of $137.8, Robert Herdman, the Cummins Inc’s director unloaded 1,000 shares of Cummins Inc worth approximately $137,773 U.S. Dollars. Currently, Mr. Robert, has rights to 11,135 shares, which accounts for 0.01% of the company’s market cap. A document free at your disposal for review here disclosed this trade activity. It was disclosed on 30-11-2016 and filled with Washington-based Security and Exchange Commission.
Out of 22 analysts covering Cummins (NYSE:CMI), 5 rate it a “Buy”, 4 “Sell”, while 13 “Hold”. This means 23% are positive. $162 is the highest target while $79 is the lowest. The $110.37 average target is -22.05% below today’s ($141.59) stock price. Cummins has been the topic of 49 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Macquarie Research maintained the stock with “Outperform” rating in Friday, February 5 report. As per Wednesday, April 6, the company rating was downgraded by Buckingham Research. Macquarie Research downgraded Cummins Inc. (NYSE:CMI) on Monday, April 11 to “Neutral” rating. The firm earned “Hold” rating on Tuesday, September 22 by Deutsche Bank. The firm has “Buy” rating given on Wednesday, October 28 by Argus Research. The rating was maintained by Deutsche Bank with “Hold” on Thursday, December 17. As per Wednesday, October 12, the company rating was maintained by Barclays Capital. As per Friday, August 21, the company rating was upgraded by Standpoint Research. Evercore upgraded the shares of CMI in a report on Monday, November 7 to “Buy” rating. The firm earned “Hold” rating on Thursday, September 1 by Jefferies.
Insitutional Activity: The institutional sentiment increased to 1.07 in 2016 Q2. Its up 0.12, from 0.95 in 2016Q1. The ratio is positive, as 75 funds sold all Cummins Inc. shares owned while 250 reduced positions. 62 funds bought stakes while 246 increased positions. They now own 134.04 million shares or 12.52% less from 153.23 million shares in 2016Q1.
Motco accumulated 0.72% or 57,817 shares. Suntrust Banks holds 14,317 shares or 0.01% of its portfolio. National Communication Tx owns 38,640 shares or 0.25% of their US portfolio. First Mercantile Trust has 8,773 shares for 0.12% of their US portfolio. Teacher Retirement System Of Texas accumulated 274,726 shares or 0.21% of the stock. Boston Common Asset Mgmt Ltd holds 0.02% of its portfolio in Cummins Inc. (NYSE:CMI) for 3,042 shares. Moreover, Sector Pension Investment Board has 0.04% invested in Cummins Inc. (NYSE:CMI) for 29,984 shares. Cornerstone Llc accumulated 954,283 shares or 3.73% of the stock. Moreover, Arizona State Retirement Sys has 0.09% invested in Cummins Inc. (NYSE:CMI) for 56,109 shares. Apriem Advsr last reported 0% of its portfolio in the stock. Moreover, Eqis Capital Mgmt has 0.06% invested in Cummins Inc. (NYSE:CMI) for 8,097 shares. Rfg Advisory Gp Limited Liability Com has invested 0.28% of its portfolio in Cummins Inc. (NYSE:CMI). Windward Management Ca has 44,170 shares for 0.96% of their US portfolio. Murphy Pohlad Asset Ltd Company last reported 1.24% of its portfolio in the stock. Kanaly Tru Company holds 0.03% or 1,114 shares in its portfolio.
Insider Transactions: Since July 26, 2016, the stock had 0 insider purchases, and 13 selling transactions for $5.87 million net activity. $337,500 worth of Cummins Inc. (NYSE:CMI) was sold by Freeland Richard Joseph. On Friday, August 5 Cook Jill E sold $747,799 worth of the stock or 5,980 shares. Shares for $104,099 were sold by Ewald Thaddeus B on Thursday, August 11. $612,500 worth of Cummins Inc. (NYSE:CMI) was sold by Ward Pat on Wednesday, July 27. HUNT MARSHA L had sold 400 shares worth $56,370. $743,367 worth of Cummins Inc. (NYSE:CMI) shares were sold by ROSE MARYA M. CHAPMAN STEVEN M sold $405,000 worth of stock.
About 1.07M shares traded hands. Cummins Inc. (NYSE:CMI) has risen 18.42% since April 27, 2016 and is uptrending. It has outperformed by 13.19% the S&P500.
Cummins Inc. is a manufacturer of diesel engines. The company has a market cap of $23.81 billion. The Firm operates through four divisions: Engine, Distribution, Components and Power Generation. It has a 20.51 P/E ratio. The Company’s Engine segment makes 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 , light-duty automotive, agricultural and governmental equipment markets.
According to Zacks Investment Research, “Cummins Inc. is one of the leading worldwide designers and manufacturers of diesel engines. The company also produces natural gas engines and engine components and subsystems. Cummins provides power and components for a wide variety of equipment in its key businesses: engine, power generation, and filtration.”
Analysts await Cummins Inc. (NYSE:CMI) to report earnings on February, 2. They expect $1.99 earnings per share, down 4.78% or $0.10 from last year’s $2.09 per share. CMI’s profit will be $334.64M for 17.79 P/E if the $1.99 EPS becomes a reality. After $2.02 actual earnings per share reported by Cummins Inc. for the previous quarter, Wall Street now forecasts -1.49% negative EPS growth.
More news for Cummins Inc. (NYSE:CMI) were recently published by: Foxbusiness.com, which released: “Fiat Chrysler, Cummins reject diesel cheating suit” on November 14, 2016. Nasdaq.com‘s article titled: “Cummins Inc. (CMI) Ex-Dividend Date Scheduled for November 17, 2016” and published on November 16, 2016 is yet another important article.
Cummins Inc., incorporated on February 3, 1919, is a maker of diesel engines. The Firm designs, makes, distributes and services diesel and natural gas engines and engine-related component products, including filtration, after treatment, turbochargers, fuel systems, controls systems, air handling systems and electric power generation systems. The Firm operates through four divisions: Engine, Distribution, Components and Power Generation. The Firm sells its products to original equipment manufacturers (OEMs), distributors and other clients across the world. The Firm serves its clients through a network of approximately 600 Company-owned and independent distributor locations and approximately 7,200 dealer locations in over 190 countries and territories. It has presence in the United States, China, India, South Korea, Mexico and Sweden.
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