E&G Advisors LP Sells 600 Shares of Cummins Inc. (CMI)

E&G Advisors LP trimmed its position in shares of Cummins Inc. (NYSE:CMI) by 31.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,300 shares of the company’s stock after selling 600 shares during the quarter. E&G Advisors LP’s holdings in Cummins were worth $205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMI. Plimoth Trust Co. LLC boosted its stake in Cummins by 0.9% in the 4th quarter. Plimoth Trust Co. LLC now owns 7,639 shares of the company’s stock worth $1,021,000 after purchasing an additional 70 shares during the period. Wetherby Asset Management Inc. boosted its position 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 acquiring an additional 75 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Cummins by 1.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 5,086 shares of the company’s stock valued at $680,000 after acquiring an additional 75 shares during the last quarter. Unison Advisors LLC boosted its position in shares of Cummins by 0.7% during the 1st quarter. Unison Advisors LLC now owns 10,645 shares of the company’s stock valued at $1,681,000 after acquiring an additional 75 shares during the last quarter. Finally, Hudock Capital Group LLC boosted its position 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 acquiring an additional 79 shares during the last quarter. 83.03% of the stock is owned by institutional investors and hedge funds.

In other news, Director Alexis M. Herman sold 423 shares of the business’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $150.12, for a total value of $63,500.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Srikanth Padmanabhan sold 1,687 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $160.00, for a total value of $269,920.00. The disclosure for this sale can be found here. 0.95% of the stock is owned by insiders.

Cummins stock traded up $0.05 during mid-day trading on Friday, hitting $165.39. The company had a trading volume of 928,894 shares, compared to its average volume of 1,129,432. The company has a current ratio of 1.57, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. Cummins Inc. has a 12 month low of $124.40 and a 12 month high of $169.45. The company has a market capitalization of $26.05 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.22 and a beta of 1.10.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, April 30th. The company reported $4.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.51 by $0.69. Cummins had a return on equity of 30.72% and a net margin of 10.24%. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period in the previous year, the company posted $3.30 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that Cummins Inc. will post 16.19 EPS for the current year.

A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Cummins from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. Mizuho set a $155.00 price objective on Cummins and gave the company a “hold” rating in a report on Saturday, February 9th. CIBC reissued a “market perform” rating on shares of Cummins in a report on Thursday, February 7th. Piper Jaffray Companies set a $195.00 price target on Cummins and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, Credit Suisse Group lifted their price target on Cummins from $165.00 to $198.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $166.16.

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Cummins Company Profile

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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