Traders Buy Cummins (CMI) on Weakness

Investors bought shares of Cummins Inc. (NYSE:CMI) on weakness during trading hours on Monday. $65.60 million flowed into the stock on the tick-up and $19.34 million flowed out of the stock on the tick-down, for a money net flow of $46.26 million into the stock. Of all stocks tracked, Cummins had the 24th highest net in-flow for the day. Cummins traded down ($0.10) for the day and closed at $148.18

CMI has been the topic of a number of analyst reports. Oppenheimer reaffirmed a “market perform” rating and issued a $164.00 price objective on shares of Cummins in a report on Thursday. CIBC restated a “market perform” rating on shares of Cummins in a research report on Thursday. Credit Suisse Group restated a “buy” rating and set a $168.00 price objective on shares of Cummins in a research report on Tuesday, January 22nd. Zacks Investment Research cut shares of Cummins from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Finally, ValuEngine upgraded shares of Cummins from a “strong sell” rating to a “sell” rating in a report on Thursday, November 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company. Cummins has an average rating of “Hold” and an average target price of $161.07.

The stock has a market cap of $23.81 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 1.03 and a beta of 1.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.95 and a current ratio of 1.54.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Wednesday, February 6th. The company reported $3.48 earnings per share for the quarter, missing the consensus estimate of $3.81 by ($0.33). The business 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%. Cummins’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.03 EPS. As a group, equities analysts predict that Cummins Inc. will post 15.48 earnings per share for the current fiscal year.

In other news, CEO Norman Thomas Linebarger sold 24,830 shares of Cummins stock in a transaction that occurred on Monday, December 17th. The shares were sold at an average price of $133.19, for a total value of $3,307,107.70. Following the transaction, the chief executive officer now owns 84,418 shares of the company’s stock, valued at $11,243,633.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Marya M. Rose sold 10,970 shares of Cummins stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $155.00, for a total transaction 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 approximately $4,035,425. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,582 shares of company stock worth $6,340,889. Insiders own 0.67% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Ipswich Investment Management Co. Inc. acquired a new stake in Cummins during the fourth quarter worth $28,000. Prime Capital Investment Advisors LLC acquired a new stake in Cummins during the fourth quarter worth $32,000. Bremer Trust National Association acquired a new stake in Cummins during the fourth quarter worth $35,000. We Are One Seven LLC acquired a new stake in Cummins during the fourth quarter worth $37,000. Finally, Massey Quick Simon & CO. LLC acquired a new stake in Cummins during the fourth quarter worth $38,000. 89.03% of the stock is currently owned by institutional investors.

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Cummins Company Profile (NYSE:CMI)

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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