MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Reduces Stock Position in Cummins Inc. (NYSE:CMI)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 30.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,324 shares of the company’s stock after selling 1,927 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Cummins were worth $1,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CMI shares. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a report on Wednesday, November 6th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. The Goldman Sachs Group increased their price objective on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Citigroup cut their target price on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $374.25.

Cummins Stock Up 0.9 %

Shares of CMI opened at $369.32 on Friday. The firm has a market cap of $50.66 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. 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’s fifty day moving average is $363.72 and its two-hundred day moving average is $329.82. Cummins Inc. has a fifty-two week low of $234.49 and a fifty-two week high of $387.90.

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

Cummins 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.