Cummins Inc. (CMI) Stake Boosted by Gulf International Bank UK Ltd

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.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $4.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.51 by $0.69. The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $5.80 billion. Cummins had a return on equity of 30.72% and a net margin of 10.24%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $3.30 EPS. Sell-side analysts expect that Cummins Inc. will post 16.19 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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