1,269 Shares in Cummins Inc. (NYSE:CMI) Acquired by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd purchased a new position in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,269 shares of the company’s stock, valued at approximately $441,000.

A number of other large investors have also bought and sold shares of CMI. Centaurus Financial Inc. grew its position in Cummins by 10.4% during the 2nd quarter. Centaurus Financial Inc. now owns 837 shares of the company’s stock worth $232,000 after acquiring an additional 79 shares during the last quarter. Czech National Bank grew its position in Cummins by 7.1% during the 3rd quarter. Czech National Bank now owns 27,918 shares of the company’s stock worth $9,040,000 after acquiring an additional 1,854 shares during the last quarter. GAMMA Investing LLC grew its position in Cummins by 37.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,372 shares of the company’s stock worth $768,000 after acquiring an additional 644 shares during the last quarter. Azzad Asset Management Inc. ADV grew its position in Cummins by 1.8% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 9,513 shares of the company’s stock worth $3,080,000 after acquiring an additional 170 shares during the last quarter. Finally, Diversified Trust Co boosted its position in Cummins by 36.4% in the 3rd quarter. Diversified Trust Co now owns 12,858 shares of the company’s stock valued at $4,163,000 after buying an additional 3,429 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 6,490 shares of company stock valued at $2,357,880 in the last 90 days. 0.56% of the stock is currently owned by company insiders.

Cummins Stock Performance

Shares of Cummins stock opened at $356.25 on Monday. The company has a market capitalization of $48.87 billion, a PE ratio of 23.53, a PEG ratio of 1.63 and a beta of 1.01. Cummins Inc. has a 12 month low of $236.00 and a 12 month high of $387.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $362.75 and its 200 day simple moving average is $333.59.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter last year, the business posted $4.73 EPS. The firm’s revenue was up .3% compared to the same quarter last year. On average, research analysts predict that Cummins Inc. will post 20.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Robert W. Baird increased their price objective on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group increased their price objective on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $374.25.

Cummins Company 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.