Rowland & Co. Investment Counsel ADV Buys 2,680 Shares of Cummins Inc. (CMI)

Rowland & Co. Investment Counsel ADV boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 23.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,035 shares of the company’s stock after purchasing an additional 2,680 shares during the quarter. Rowland & Co. Investment Counsel ADV’s holdings in Cummins were worth $2,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Carroll Financial Associates Inc. boosted its position in shares of Cummins by 13.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 702 shares of the company’s stock worth $113,000 after acquiring an additional 83 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of Cummins during the 2nd quarter worth about $137,000. First Interstate Bank boosted its position in shares of Cummins by 26.3% during the 1st quarter. First Interstate Bank now owns 931 shares of the company’s stock worth $141,000 after acquiring an additional 194 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in shares of Cummins during the 2nd quarter worth about $146,000. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Cummins during the 1st quarter worth about $150,000. Institutional investors own 80.38% of the company’s stock.

In other Cummins news, Director Franklin R. Changdiaz sold 1,633 shares of Cummins stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $159.27, for a total value of $260,087.91. Following the completion of the transaction, the director now directly owns 5,814 shares in the company, valued at $925,995.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Pat Ward sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $169.00, for a total value of $845,000.00. Following the transaction, the chief financial officer now owns 245 shares of the company’s stock, valued at $41,405. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,633 shares of company stock valued at $2,942,108. 0.62% of the stock is currently owned by insiders.

Shares of Cummins Inc. (NYSE CMI) traded down 0.12% during mid-day trading on Monday, hitting $171.90. The company had a trading volume of 182,313 shares. The stock’s 50-day moving average is $162.87 and its 200-day moving average is $158.49. The stock has a market cap of $28.71 billion, a price-to-earnings ratio of 19.43 and a beta of 1.13. Cummins Inc. has a 52-week low of $121.22 and a 52-week high of $172.74.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, August 1st. The company reported $2.53 EPS for the quarter, missing the Zacks’ consensus estimate of $2.58 by ($0.05). Cummins had a net margin of 8.10% and a return on equity of 20.67%. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the firm earned $2.40 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Equities analysts forecast that Cummins Inc. will post $7.98 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Rowland & Co. Investment Counsel ADV Buys 2,680 Shares of Cummins Inc. (CMI)” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another website, it was illegally stolen and republished in violation of U.S. and international copyright law. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/09/rowland-co-investment-counsel-adv-buys-2680-shares-of-cummins-inc-cmi.html.

Several research analysts have recently issued reports on CMI shares. Buckingham Research started coverage on Cummins in a research report on Tuesday, September 5th. They set a “buy” rating and a $180.00 price objective for the company. Piper Jaffray Companies reaffirmed a “hold” rating and set a $159.00 price objective on shares of Cummins in a research report on Thursday, August 3rd. Deutsche Bank AG lowered their price objective on Cummins from $155.00 to $147.00 and set a “sell” rating for the company in a research report on Wednesday, August 2nd. Stifel Nicolaus upped their price objective on Cummins from $160.00 to $168.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $165.00 price objective (up from $160.00) on shares of Cummins in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. Cummins currently has a consensus rating of “Hold” and a consensus price target of $163.7

Other hedge funds and other institutional investors also recently modified their holdings of the company. Carroll Financial Associates Inc. boosted its position in shares of Cummins by 13.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 702 shares of the company’s stock worth $113,000 after acquiring an additional 83 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of Cummins during the 2nd quarter worth about $137,000. First Interstate Bank boosted its position in shares of Cummins by 26.3% during the 1st quarter. First Interstate Bank now owns 931 shares of the company’s stock worth $141,000 after acquiring an additional 194 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in shares of Cummins during the 2nd quarter worth about $146,000. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Cummins during the 1st quarter worth about $150,000. Institutional investors own 80.38% of the company’s stock.

In other Cummins news, Director Franklin R. Changdiaz sold 1,633 shares of Cummins stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $159.27, for a total value of $260,087.91. Following the completion of the transaction, the director now directly owns 5,814 shares in the company, valued at $925,995.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Pat Ward sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $169.00, for a total value of $845,000.00. Following the transaction, the chief financial officer now owns 245 shares of the company’s stock, valued at $41,405. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,633 shares of company stock valued at $2,942,108. 0.62% of the stock is currently owned by insiders.

Shares of Cummins Inc. (NYSE CMI) traded down 0.12% during mid-day trading on Monday, hitting $171.90. The company had a trading volume of 182,313 shares. The stock’s 50-day moving average is $162.87 and its 200-day moving average is $158.49. The stock has a market cap of $28.71 billion, a price-to-earnings ratio of 19.43 and a beta of 1.13. Cummins Inc. has a 52-week low of $121.22 and a 52-week high of $172.74.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, August 1st. The company reported $2.53 EPS for the quarter, missing the Zacks’ consensus estimate of $2.58 by ($0.05). Cummins had a net margin of 8.10% and a return on equity of 20.67%. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the firm earned $2.40 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Equities analysts forecast that Cummins Inc. will post $7.98 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Rowland & Co. Investment Counsel ADV Buys 2,680 Shares of Cummins Inc. (CMI)” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another website, it was illegally stolen and republished in violation of U.S. and international copyright law. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/09/rowland-co-investment-counsel-adv-buys-2680-shares-of-cummins-inc-cmi.html.

Several research analysts have recently issued reports on CMI shares. Buckingham Research started coverage on Cummins in a research report on Tuesday, September 5th. They set a “buy” rating and a $180.00 price objective for the company. Piper Jaffray Companies reaffirmed a “hold” rating and set a $159.00 price objective on shares of Cummins in a research report on Thursday, August 3rd. Deutsche Bank AG lowered their price objective on Cummins from $155.00 to $147.00 and set a “sell” rating for the company in a research report on Wednesday, August 2nd. Stifel Nicolaus upped their price objective on Cummins from $160.00 to $168.00 and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $165.00 price objective (up from $160.00) on shares of Cummins in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. Cummins currently has a consensus rating of “Hold” and a consensus price target of $163.77.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures 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 (RV), light-duty automotive and agricultural markets.

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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