Plimoth Trust Co. LLC boosted its holdings in Cummins Inc. (NYSE:CMI) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,329 shares of the company’s stock after purchasing an additional 690 shares during the period. Plimoth Trust Co. LLC’s holdings in Cummins were worth $1,314,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Morgan Stanley grew its stake in shares of Cummins by 5.3% in the 3rd quarter. Morgan Stanley now owns 1,727,365 shares of the company’s stock worth $252,315,000 after buying an additional 86,791 shares in the last quarter. Jolley Asset Management LLC lifted its holdings in Cummins by 4.2% during the 4th quarter. Jolley Asset Management LLC now owns 28,445 shares of the company’s stock valued at $3,801,000 after buying an additional 1,138 shares in the last quarter. First Hawaiian Bank raised its holdings in shares of Cummins by 21.2% in the 4th quarter. First Hawaiian Bank now owns 7,661 shares of the company’s stock valued at $1,023,000 after purchasing an additional 1,338 shares in the last quarter. Paradigm Asset Management Co. LLC raised its holdings in shares of Cummins by 0.9% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 17,350 shares of the company’s stock valued at $2,534,000 after purchasing an additional 150 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Cummins in the 1st quarter valued at about $728,000. 83.03% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on the stock. Credit Suisse Group boosted their price objective on shares of Cummins from $165.00 to $198.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Robert W. Baird raised shares of Cummins from a “neutral” rating to an “outperform” rating and set a $148.40 target price on the stock in a research report on Thursday, February 7th. Citigroup raised shares of Cummins from a “neutral” rating to a “buy” rating and upped their price objective for the company from $155.00 to $190.00 in a report on Tuesday, April 16th. Zacks Investment Research upgraded shares of Cummins from a “sell” rating to a “hold” rating and set a $168.00 target price for the company in a research note on Wednesday, February 6th. Finally, Oppenheimer cut shares of Cummins from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $165.61.
NYSE:CMI opened at $165.39 on Friday. The firm has a market capitalization of $26.05 billion, a P/E ratio of 12.50, a PEG ratio of 1.22 and a beta of 1.10. 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 0.96 and a current ratio of 1.57.
Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, April 30th. The company reported $4.20 earnings per share (EPS) for the quarter, topping the 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 during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the company posted $3.30 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Analysts forecast that Cummins Inc. will post 16.19 earnings per share for the current fiscal year.
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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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