Gulf International Bank UK Ltd lifted its position in shares of Cummins Inc. (NYSE:CMI) by 1.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,299 shares of the company’s stock after purchasing an additional 450 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Cummins were worth $5,888,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Aull & Monroe Investment Management Corp grew its stake in shares of Cummins by 84.0% during the 1st quarter. Aull & Monroe Investment Management Corp now owns 11,410 shares of the company’s stock worth $1,801,000 after acquiring an additional 5,210 shares during the period. Unison Advisors LLC boosted its stake in Cummins by 0.7% in the 1st quarter. Unison Advisors LLC now owns 10,645 shares of the company’s stock worth $1,681,000 after purchasing an additional 75 shares during the period. IFM Investors Pty Ltd boosted its stake in Cummins by 8.6% in the 1st quarter. IFM Investors Pty Ltd now owns 9,812 shares of the company’s stock worth $1,549,000 after purchasing an additional 780 shares during the period. Wedbush Securities Inc. boosted its stake in Cummins by 21.5% in the 1st quarter. Wedbush Securities Inc. now owns 2,806 shares of the company’s stock worth $443,000 after purchasing an additional 497 shares during the period. Finally, Stock Yards Bank & Trust Co. boosted its stake in Cummins by 17.4% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 2,255 shares of the company’s stock worth $356,000 after purchasing an additional 335 shares during the period. 83.03% of the stock is currently owned by institutional investors.
Cummins stock traded up $0.05 during trading hours on Friday, reaching $165.39. The company had a trading volume of 928,894 shares, compared to its average volume of 1,129,432. The stock has a market capitalization of $26.05 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 1.22 and a beta of 1.10. Cummins Inc. has a 12-month low of $124.40 and a 12-month high of $169.45. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.57 and a quick ratio of 0.96.
In other Cummins 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 filing with the SEC, which is available through the SEC website. 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. Insiders own 0.95% of the company’s stock.
Several research analysts have commented on the company. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Friday, May 3rd. Stifel Nicolaus lifted their price target on Cummins from $176.00 to $183.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. UBS Group lifted their price target on Cummins from $130.00 to $135.00 and gave the company a “sell” rating in a research report on Wednesday, May 1st. Credit Suisse Group lifted their price target on Cummins from $165.00 to $198.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Loop Capital downgraded Cummins from a “buy” rating to a “hold” rating and set a $166.29 price target for the company. in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. 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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