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.
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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