Cummins Inc. (CMI) Shares Bought by LSV Asset Management

LSV Asset Management increased its holdings in Cummins Inc. (NYSE:CMI) by 13.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,674,463 shares of the company’s stock after buying an additional 439,936 shares during the quarter. Cummins comprises approximately 0.9% of LSV Asset Management’s portfolio, making the stock its 21st biggest position. LSV Asset Management owned about 2.29% of Cummins worth $491,055,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CMI. Plimoth Trust Co. LLC grew its stake in shares of Cummins by 0.9% during the 4th quarter. Plimoth Trust Co. LLC now owns 7,639 shares of the company’s stock valued at $1,021,000 after purchasing an additional 70 shares during the period. Wetherby Asset Management Inc. grew its stake in shares of Cummins by 1.7% during the 4th quarter. Wetherby Asset Management Inc. now owns 4,578 shares of the company’s stock valued at $612,000 after purchasing an additional 75 shares during the period. Unison Advisors LLC grew its stake in shares of Cummins by 0.7% during the 4th quarter. Unison Advisors LLC now owns 10,570 shares of the company’s stock valued at $1,412,000 after purchasing an additional 77 shares during the period. Hudock Capital Group LLC grew its stake in shares of Cummins by 12.8% during the 4th quarter. Hudock Capital Group LLC now owns 698 shares of the company’s stock valued at $92,000 after purchasing an additional 79 shares during the period. Finally, Trust Co. of Vermont grew its stake in shares of Cummins by 3.0% during the 4th quarter. Trust Co. of Vermont now owns 2,830 shares of the company’s stock valued at $378,000 after purchasing an additional 83 shares during the period. Institutional investors own 89.03% of the company’s stock.

Shares of NYSE:CMI opened at $148.28 on Monday. The company has a market cap of $23.81 billion, a P/E ratio of 11.21, a P/E/G ratio of 1.03 and a beta of 1.14. The company has a quick ratio of 0.95, a current ratio of 1.54 and a debt-to-equity ratio of 0.19. Cummins Inc. has a 12-month low of $124.40 and a 12-month high of $173.32.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Wednesday, February 6th. The company reported $3.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.81 by ($0.33). The company had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $6.08 billion. Cummins had a net margin of 9.01% and a return on equity of 29.71%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.03 earnings per share. On average, sell-side analysts expect that Cummins Inc. will post 15.48 earnings per share for the current year.

In related news, VP Tracy A. Embree sold 206 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $150.00, for a total value of $30,900.00. Following the transaction, the vice president now directly owns 4,221 shares of the company’s stock, valued at approximately $633,150. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Marya M. Rose sold 10,970 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $155.00, for a total value of $1,700,350.00. Following the completion of the transaction, the chief accounting officer now directly owns 26,035 shares in the company, valued at $4,035,425. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,582 shares of company stock worth $6,340,889. 0.67% of the stock is owned by insiders.

CMI has been the subject of a number of recent research reports. Royal Bank of Canada restated a “hold” rating and set a $155.00 price target on shares of Cummins in a research note on Monday, December 24th. Robert W. Baird upgraded Cummins from a “neutral” rating to an “outperform” rating and set a $148.40 price target for the company in a research note on Thursday. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a research note on Thursday, November 29th. UBS Group set a $130.00 price target on Cummins and gave the company a “sell” rating in a research note on Tuesday, November 6th. Finally, JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $137.00 to $147.00 in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $161.07.

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About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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