Creative Planning grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,539 shares of the company’s stock after purchasing an additional 699 shares during the period. Creative Planning’s holdings in Cummins were worth $5,571,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of CMI. ETRADE Capital Management LLC increased its holdings in shares of Cummins by 1.4% in the 2nd quarter. ETRADE Capital Management LLC now owns 2,027 shares of the company’s stock worth $329,000 after acquiring an additional 27 shares during the period. Advisory Services Network LLC increased its holdings in shares of Cummins by 0.3% in the 2nd quarter. Advisory Services Network LLC now owns 15,459 shares of the company’s stock worth $2,508,000 after acquiring an additional 51 shares during the period. Veritable L.P. increased its holdings in shares of Cummins by 1.3% in the 2nd quarter. Veritable L.P. now owns 4,884 shares of the company’s stock worth $792,000 after acquiring an additional 65 shares during the period. Ropes Wealth Advisors LLC increased its holdings in shares of Cummins by 1.8% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 3,730 shares of the company’s stock worth $605,000 after acquiring an additional 67 shares during the period. Finally, Guardian Capital Advisors LP increased its holdings in shares of Cummins by 2.6% in the 2nd quarter. Guardian Capital Advisors LP now owns 2,950 shares of the company’s stock worth $487,000 after acquiring an additional 75 shares during the period. 82.36% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on CMI. Royal Bank of Canada increased their price objective on shares of Cummins from $169.00 to $173.00 and gave the stock a “sector perform” rating in a report on Thursday, November 2nd. Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Robert W. Baird reaffirmed a “sell” rating and issued a $153.00 price objective on shares of Cummins in a report on Thursday, October 12th. Piper Jaffray Companies set a $170.00 price objective on shares of Cummins and gave the stock a “hold” rating in a report on Tuesday, October 31st. Finally, Citigroup increased their price objective on shares of Cummins from $175.00 to $183.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $181.46.
Cummins Inc. (NYSE:CMI) opened at $189.08 on Friday. The company has a market cap of $30,491.55, a PE ratio of 19.20, a price-to-earnings-growth ratio of 1.27 and a beta of 1.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.57. Cummins Inc. has a 52 week low of $140.18 and a 52 week high of $189.57.
Cummins (NYSE:CMI) last released its earnings results on Tuesday, October 31st. The company reported $2.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.47 by $0.24. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $4.79 billion. Cummins had a net margin of 8.49% and a return on equity of 21.28%. Cummins’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter last year, the company earned $2.02 EPS. equities research analysts forecast that Cummins Inc. will post 10.22 earnings per share for the current year.
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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.
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