Short Interest Coverage: It Seems Cummins Incorporated (NYSE:CMI) Will Go Up. Just Reported Less Shorted Shares

November 29, 2016 - By Nellie Frank   ·   0 Comments

Short Interest Coverage: It Seems Cummins Incorporated (NYSE:CMI) Will Go Up. Just Reported Less Shorted Shares

The stock of Cummins Incorporated (NYSE:CMI) registered a decrease of 3.26% in short interest. CMI’s total short interest was 5.37 million shares in November as published by FINRA. Its down 3.26% from 5.55M shares, reported previously. With 1.23M shares average volume, it will take short sellers 4 days to cover their CMI’s short positions. The short interest to Cummins Incorporated’s float is 3.2%. About 547,532 shares traded hands. Cummins Inc. (NYSE:CMI) has risen 19.06% since April 26, 2016 and is uptrending. It has outperformed by 13.80% the S&P500.

Cummins Inc. is a manufacturer of diesel engines. The company has a market cap of $22.78 billion. The Firm operates through four divisions: Engine, Distribution, Components and Power Generation. It has a 20.03 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.

Insitutional Activity: The institutional sentiment increased to 1.07 in 2016 Q2. Its up 0.12, from 0.95 in 2016Q1. The ratio increased, 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.
First Lp owns 235,050 shares or 0.08% of their US portfolio. Fiduciary Svcs Of The Southwest Tx holds 0.23% of its portfolio in Cummins Inc. (NYSE:CMI) for 6,489 shares. Fifth Third National Bank & Trust has 0.04% invested in the company for 46,963 shares. The Illinois-based Spot Trading Ltd Limited Liability Company has invested 0.03% in Cummins Inc. (NYSE:CMI). Amica Mutual Insur Com holds 10,012 shares or 0.11% of its portfolio. Cornerstone Advsrs owns 537 shares or 0.06% of their US portfolio. Cg Asset Limited Co owns 42,395 shares or 1.91% of their US portfolio. Associated Banc owns 12,586 shares or 0.09% of their US portfolio. Canada Pension Plan Investment Board holds 0.12% of its portfolio in Cummins Inc. (NYSE:CMI) for 252,913 shares. Babson Management Ltd Liability Co has 0.07% invested in the company for 23,308 shares. Morgan Dempsey Cap Lc has 16 shares for 0% of their US portfolio. Bartlett And Lc accumulated 0% or 526 shares. Louisiana State Employees Retirement Systems has 10,400 shares for 0.06% of their US portfolio. The Missouri-based Stifel has invested 0.05% in Cummins Inc. (NYSE:CMI). Lockheed Martin Mngmt Company has 0.22% invested in the company for 20,000 shares.

Insider Transactions: Since July 26, 2016, the stock had 0 buys, and 13 insider sales for $5.87 million net activity. Cook Jill E sold $718,916 worth of Cummins Inc. (NYSE:CMI) on Tuesday, July 26. On Friday, August 5 CHAPMAN STEVEN M sold $375,000 worth of the stock or 3,000 shares. $104,099 worth of Cummins Inc. (NYSE:CMI) was sold by Ewald Thaddeus B on Thursday, August 11. ROSE MARYA M also sold $743,367 worth of Cummins Inc. (NYSE:CMI) shares. Ward Pat had sold 5,000 shares worth $612,500. HUNT MARSHA L had sold 500 shares worth $63,132. Freeland Richard Joseph also sold $337,500 worth of Cummins Inc. (NYSE:CMI) on Wednesday, November 9.

Cummins Inc. (NYSE:CMI) Ratings Coverage

Out of 22 analysts covering Cummins (NYSE:CMI), 5 rate it a “Buy”, 4 “Sell”, while 13 “Hold”. This means 23% are positive. Cummins has been the topic of 49 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Standpoint Research upgraded the stock to “Buy” rating in Friday, August 21 report. The rating was maintained by Macquarie Research on Friday, February 5 with “Outperform”. The company was maintained on Thursday, April 21 by Piper Jaffray. The company was downgraded on Tuesday, December 1 by Bank of America. The firm earned “Hold” rating on Tuesday, August 4 by Evercore. The company was maintained on Wednesday, October 12 by Barclays Capital. Deutsche Bank maintained Cummins Inc. (NYSE:CMI) on Wednesday, October 28 with “Hold” rating. RBC Capital Markets initiated Cummins Inc. (NYSE:CMI) on Tuesday, March 15 with “Sector Perform” rating. The rating was upgraded by Standpoint Research on Monday, August 24 to “Buy”. The stock of Cummins Inc. (NYSE:CMI) has “Neutral” rating given on Monday, April 11 by Macquarie Research.

CMI Company Profile

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 recent Cummins Inc. (NYSE:CMI) news were published by: Foxbusiness.com which released: “Fiat Chrysler, Cummins reject diesel cheating suit” on November 14, 2016. Also Equitiesfocus.com published the news titled: “Cummins Inc. (NYSE:CMI) 200-Day MA At $121.95” on November 29, 2016. Nasdaq.com‘s news article titled: “Cummins Inc. (CMI) Ex-Dividend Date Scheduled for November 17, 2016” with publication date: November 16, 2016 was also an interesting one.

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By Nellie Frank

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