Icon Advisers Inc. Co. purchased a new position in Cummins Inc. (NYSE:CMI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,700 shares of the company’s stock, valued at approximately $2,067,000.
Several other large investors have also bought and sold shares of the business. Advisory Services Network LLC grew its stake in shares of Cummins by 0.3% during the second quarter. Advisory Services Network LLC now owns 15,459 shares of the company’s stock worth $2,508,000 after purchasing an additional 51 shares in the last quarter. Advisor Partners LLC grew its stake in shares of Cummins by 8.1% during the fourth quarter. Advisor Partners LLC now owns 3,596 shares of the company’s stock worth $680,000 after purchasing an additional 269 shares in the last quarter. Kessler Investment Group LLC grew its stake in shares of Cummins by 1.8% during the fourth quarter. Kessler Investment Group LLC now owns 18,785 shares of the company’s stock worth $3,318,000 after purchasing an additional 329 shares in the last quarter. Hartford Investment Management Co. grew its stake in shares of Cummins by 1.0% during the third quarter. Hartford Investment Management Co. now owns 34,314 shares of the company’s stock worth $5,766,000 after purchasing an additional 349 shares in the last quarter. Finally, Blue Chip Partners Inc. grew its stake in shares of Cummins by 9.2% during the fourth quarter. Blue Chip Partners Inc. now owns 4,179 shares of the company’s stock worth $738,000 after purchasing an additional 353 shares in the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.
Shares of Cummins Inc. (NYSE:CMI) opened at $164.05 on Friday. Cummins Inc. has a 1-year low of $143.83 and a 1-year high of $194.18. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. The company has a market cap of $27,226.89, a PE ratio of 15.43, a PEG ratio of 1.17 and a beta of 1.14.
Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 6th. The company reported $3.03 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.38. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The business had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.23 billion. During the same period in the prior year, the company earned $2.25 earnings per share. The business’s revenue was up 21.6% compared to the same quarter last year. sell-side analysts anticipate that Cummins Inc. will post 12.44 EPS for the current fiscal year.
A number of brokerages recently commented on CMI. ValuEngine upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Barclays reissued an “equal weight” rating and issued a $191.00 price target (up from $180.00) on shares of Cummins in a research report on Wednesday, January 24th. Oppenheimer boosted their price target on shares of Cummins to $207.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $182.00 price target on shares of Cummins in a research report on Monday, February 5th. Finally, Citigroup boosted their price target on shares of Cummins from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. Cummins currently has a consensus rating of “Hold” and a consensus price target of $188.18.
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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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