Cummins Inc. (NYSE:CMI) Shares Bought by Manning & Napier Group LLC

Manning & Napier Group LLC lifted its holdings in Cummins Inc. (NYSE:CMI) by 25.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,681 shares of the company’s stock after buying an additional 11,737 shares during the quarter. Manning & Napier Group LLC’s holdings in Cummins were worth $9,263,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of Cummins in the 4th quarter worth approximately $27,000. Ipswich Investment Management Co. Inc. bought a new stake in Cummins during the 4th quarter worth approximately $28,000. Prime Capital Investment Advisors LLC bought a new stake in Cummins during the 4th quarter worth approximately $32,000. Bremer Trust National Association bought a new stake in Cummins during the 4th quarter worth approximately $35,000. Finally, We Are One Seven LLC bought a new stake in Cummins during the 4th quarter worth approximately $37,000. 82.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CMI stock traded up $3.02 on Friday, reaching $169.19. The company’s stock had a trading volume of 1,296,699 shares, compared to its average volume of 1,291,098. Cummins Inc. has a 1 year low of $124.40 and a 1 year high of $169.45. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.57. The firm has a market cap of $26.64 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.15 and a beta of 1.10.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, April 30th. The company reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.69. Cummins had a net margin of 10.24% and a return on equity of 30.72%. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the firm posted $3.30 earnings per share. Cummins’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts predict that Cummins Inc. will post 15.55 EPS for the current year.

A number of research firms have commented on CMI. Oppenheimer restated a “market perform” rating and set a $164.00 target price on shares of Cummins in a research note on Thursday, February 7th. CIBC restated a “market perform” rating on shares of Cummins in a research note on Thursday, February 7th. Credit Suisse Group restated a “buy” rating and set a $168.00 target price on shares of Cummins in a research note on Tuesday, January 22nd. Zacks Investment Research cut shares of Cummins from a “hold” rating to a “sell” rating in a research note on Wednesday, January 9th. Finally, UBS Group raised their target price on shares of Cummins from $130.00 to $135.00 and gave the stock a “sell” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. Cummins presently has an average rating of “Hold” and an average price target of $166.16.

In other Cummins news, insider Srikanth Padmanabhan sold 1,687 shares of Cummins stock in a transaction on Monday, March 18th. The shares were sold at an average price of $160.00, for a total transaction of $269,920.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexis M. Herman sold 423 shares of Cummins stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $150.12, for a total transaction of $63,500.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,316 shares of company stock valued at $364,321. 0.95% of the stock is currently owned by insiders.

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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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