November 24, 2016 - By Richard Conner · 0 Comments
Cummins Inc (NYSE:CMI) institutional sentiment increased to 1.07 in Q2 2016. Its up 0.12, from 0.95 in 2016Q1. The ratio has increased, as 308 institutional investors started new and increased positions, while 325 sold and decreased positions in Cummins Inc. The institutional investors in our partner’s database now have: 134.04 million shares, down from 153.23 million shares in 2016Q1. Also, the number of institutional investors holding Cummins Inc in their top 10 positions decreased from 12 to 9 for a decrease of 3. Sold All: 75 Reduced: 250 Increased: 246 New Position: 62.
Cummins Inc. is a manufacturer of diesel engines. The company has a market cap of $24.13 billion. The Firm operates through four divisions: Engine, Distribution, Components and Power Generation. It has a 20.4 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.
The stock increased 1.04% or $1.45 on November 23, hitting $140.8. About 1.51M shares traded hands. Cummins Inc. (NYSE:CMI) has risen 21.26% since April 22, 2016 and is uptrending. It has outperformed by 15.86% the S&P500.
Analysts await Cummins Inc. (NYSE:CMI) to report earnings on February, 2. They expect $1.99 EPS, down 4.78% or $0.10 from last year’s $2.09 per share. CMI’s profit will be $341.04M for 17.69 P/E if the $1.99 EPS becomes a reality. After $2.02 actual EPS reported by Cummins Inc. for the previous quarter, Wall Street now forecasts -1.49% negative EPS growth.
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.”
Marshfield Associates holds 5.74% of its portfolio in Cummins Inc. for 713,726 shares. Cincinnati Casualty Co owns 46,000 shares or 5.28% of their US portfolio. Moreover, Kessler Investment Group Llc has 4.76% invested in the company for 29,563 shares. The California-based Raub Brock Capital Management Lp has invested 3.9% in the stock. Cornerstone Investment Partners Llc, a Georgia-based fund reported 954,283 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 12 insider sales for $5.81 million net activity.
Ratings analysis reveals 23% of Cummins’s analysts are positive. Out of 22 Wall Street analysts rating Cummins, 5 give it “Buy”, 4 “Sell” rating, while 13 recommend “Hold”. The lowest target is $79 while the high is $162. The stock’s average target of $110.37 is -21.61% below today’s ($140.8) share price. CMI was included in 49 notes of analysts from July 22, 2015. The company was upgraded on Monday, November 7 by Evercore. Macquarie Research maintained Cummins Inc. (NYSE:CMI) on Wednesday, October 28 with “Outperform” rating. Macquarie Research downgraded the shares of CMI in a report on Monday, April 11 to “Neutral” rating. On Wednesday, October 28 the stock rating was maintained by Barclays Capital with “Underweight”. The stock of Cummins Inc. (NYSE:CMI) has “Hold” rating given on Wednesday, November 2 by Stifel Nicolaus. The company was downgraded on Tuesday, August 4 by Evercore. The rating was upgraded by Standpoint Research to “Buy” on Monday, August 24. The company was downgraded on Wednesday, October 28 by Robert W. Baird. The firm has “Market Perform” rating given on Friday, September 25 by William Blair. The stock of Cummins Inc. (NYSE:CMI) has “Hold” rating given on Thursday, September 1 by Jefferies.
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.
More news for Cummins Inc. (NYSE:CMI) were recently published by: Nasdaq.com, which released: “Cummins Inc. (CMI) Ex-Dividend Date Scheduled for November 17, 2016” on November 16, 2016. Fortune.com‘s article titled: “Fiat Chrysler to Fight Diesel Cheating Lawsuit” and published on November 15, 2016 is yet another important article.
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By Richard Conner