Cummins Inc. (NYSE:CMI) Holdings Trimmed by First Allied Advisory Services Inc.

First Allied Advisory Services Inc. lowered its holdings in Cummins Inc. (NYSE:CMI) by 9.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,321 shares of the company’s stock after selling 762 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Cummins were worth $1,232,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMI. Northwest Investment Counselors LLC acquired a new stake in Cummins in the 3rd quarter valued at $132,000. Captrust Financial Advisors acquired a new stake in Cummins in the 2nd quarter valued at $137,000. Acrospire Investment Management LLC acquired a new stake in Cummins in the 2nd quarter valued at $146,000. First Interstate Bank grew its position in Cummins by 2.7% in the 2nd quarter. First Interstate Bank now owns 956 shares of the company’s stock valued at $155,000 after purchasing an additional 25 shares during the period. Finally, Sun Life Financial INC grew its position in Cummins by 8,684.6% in the 2nd quarter. Sun Life Financial INC now owns 1,142 shares of the company’s stock valued at $185,000 after purchasing an additional 1,129 shares during the period. 82.31% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on CMI shares. Goldman Sachs Group downgraded shares of Cummins from a “buy” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Thursday, November 30th. Zacks Investment Research downgraded shares of Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. BMO Capital Markets lifted their price objective on shares of Cummins from $185.00 to $190.00 and gave the stock a “market perform” rating in a report on Wednesday, November 8th. Buckingham Research started coverage on shares of Cummins in a report on Tuesday, September 5th. They set a “buy” rating and a $180.00 price objective on the stock. Finally, Piper Jaffray Companies set a $170.00 price objective on shares of Cummins and gave the stock a “hold” rating in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $178.69.

Cummins Inc. (NYSE CMI) traded up $0.42 during midday trading on Tuesday, hitting $177.06. The stock had a trading volume of 1,039,400 shares, compared to its average volume of 1,400,000. The company has a market cap of $29,390.00, a PE ratio of 17.99, a price-to-earnings-growth ratio of 1.46 and a beta of 1.13. Cummins Inc. has a 12 month low of $134.06 and a 12 month high of $181.79. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.47 by $0.24. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $4.79 billion. During the same period in the previous year, the business posted $2.02 EPS. The firm’s quarterly revenue was up 26.2% compared to the same quarter last year. equities research analysts forecast that Cummins Inc. will post 10.19 earnings per share for the current fiscal year.

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Cummins Company Profile

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.

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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