Cummins Inc. (NYSE:CMI) Stake Lowered by Silver Lake Advisory LLC

Silver Lake Advisory LLC trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 12.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,321 shares of the company’s stock after selling 192 shares during the period. Silver Lake Advisory LLC’s holdings in Cummins were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CMI. Marshall Wace LLP lifted its holdings in shares of Cummins by 158.8% during the 2nd quarter. Marshall Wace LLP now owns 54,289 shares of the company’s stock valued at $15,034,000 after buying an additional 33,314 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Cummins by 54.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 26,199 shares of the company’s stock valued at $7,255,000 after acquiring an additional 9,276 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Cummins by 452.8% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,731 shares of the company’s stock worth $756,000 after acquiring an additional 2,237 shares in the last quarter. AXA S.A. increased its stake in shares of Cummins by 247.5% during the 2nd quarter. AXA S.A. now owns 229,051 shares of the company’s stock worth $63,431,000 after purchasing an additional 163,129 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Cummins by 31.0% during the 2nd quarter. AQR Capital Management LLC now owns 616,876 shares of the company’s stock valued at $170,831,000 after purchasing an additional 145,921 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CMI shares. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Robert W. Baird lifted their price objective on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, Citigroup lowered their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cummins has an average rating of “Moderate Buy” and a consensus price target of $374.25.

Insider Activity at Cummins

In other news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 6,489 shares of company stock valued at $2,357,531 in the last ninety days. Insiders own 0.56% of the company’s stock.

Cummins Stock Up 0.9 %

Shares of CMI opened at $369.32 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $363.72 and a two-hundred day moving average price of $329.82. The stock has a market cap of $50.66 billion, a price-to-earnings ratio of 24.39, a P/E/G ratio of 1.69 and a beta of 1.01. Cummins Inc. has a 12 month low of $234.49 and a 12 month high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the firm earned $4.73 EPS. Cummins’s quarterly revenue was up .3% on a year-over-year basis. Equities analysts predict that Cummins Inc. will post 21.92 EPS for the current fiscal year.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.