Sheaff Brock Investment Advisors LLC Sells 137 Shares of Cummins Inc. (NYSE:CMI)

Sheaff Brock Investment Advisors LLC trimmed its holdings in Cummins Inc. (NYSE:CMIFree Report) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,939 shares of the company’s stock after selling 137 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Cummins were worth $6,840,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Cummins by 1.5% in the second quarter. BlackRock Inc. now owns 12,398,646 shares of the company’s stock valued at $3,039,652,000 after buying an additional 180,643 shares during the period. State Street Corp raised its position in shares of Cummins by 3.0% in the 1st quarter. State Street Corp now owns 6,482,278 shares of the company’s stock worth $1,548,473,000 after acquiring an additional 191,776 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Cummins by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,015,503 shares of the company’s stock valued at $737,354,000 after acquiring an additional 70,677 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cummins by 7.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,370,151 shares of the company’s stock valued at $486,142,000 after acquiring an additional 173,139 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Cummins by 13.6% in the second quarter. Fisher Asset Management LLC now owns 2,361,324 shares of the company’s stock valued at $578,902,000 after purchasing an additional 283,027 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Cummins Trading Up 4.0 %

Shares of NYSE CMI traded up $9.66 during midday trading on Tuesday, reaching $250.77. The company had a trading volume of 1,219,451 shares, compared to its average volume of 800,917. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.42. Cummins Inc. has a one year low of $203.18 and a one year high of $265.28. The firm’s fifty day moving average price is $236.92 and its 200-day moving average price is $233.37. The stock has a market cap of $35.55 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02.

Cummins (NYSE:CMIGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.39 by ($0.25). Cummins had a net margin of 8.40% and a return on equity of 26.12%. The company had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. During the same quarter in the previous year, the firm posted $4.52 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities research analysts anticipate that Cummins Inc. will post 19.95 earnings per share for the current year.

Analysts Set New Price Targets

CMI has been the subject of several research analyst reports. Morgan Stanley started coverage on shares of Cummins in a research note on Monday, January 8th. They issued an “overweight” rating and a $278.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on Cummins from $255.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, January 18th. Bank of America downgraded Cummins from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $243.00 to $225.00 in a report on Friday, January 19th. Finally, StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Cummins presently has an average rating of “Hold” and a consensus target price of $260.38.

View Our Latest Research Report on CMI

About Cummins

(Free Report)

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 New Power. 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 new parts and services, as well as remanufactured parts and engines.

Further Reading

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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