Strengthening Families & Communities LLC Boosts Holdings in Cummins Inc. $CMI

Strengthening Families & Communities LLC boosted its holdings in shares of Cummins Inc. (NYSE:CMI) by 2,719.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,882 shares of the company’s stock after buying an additional 8,567 shares during the quarter. Cummins accounts for approximately 0.8% of Strengthening Families & Communities LLC’s portfolio, making the stock its 27th biggest holding. Strengthening Families & Communities LLC’s holdings in Cummins were worth $3,717,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CMI. Vanguard Group Inc. lifted its position in Cummins by 2.0% during the second quarter. Vanguard Group Inc. now owns 17,628,149 shares of the company’s stock valued at $5,773,219,000 after purchasing an additional 344,680 shares in the last quarter. State Street Corp increased its position in Cummins by 1.4% in the second quarter. State Street Corp now owns 6,539,191 shares of the company’s stock worth $2,141,585,000 after buying an additional 92,073 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cummins by 1.3% in the second quarter. Geode Capital Management LLC now owns 3,499,240 shares of the company’s stock worth $1,141,138,000 after buying an additional 43,720 shares during the period. Fisher Asset Management LLC lifted its position in shares of Cummins by 4.5% during the 2nd quarter. Fisher Asset Management LLC now owns 3,275,045 shares of the company’s stock valued at $1,072,578,000 after buying an additional 142,058 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Cummins during the 2nd quarter valued at approximately $505,941,000. 83.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Jennifer Rumsey sold 4,570 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $473.89, for a total value of $2,165,677.30. Following the completion of the sale, the chief executive officer directly owned 42,880 shares in the company, valued at $20,320,403.20. This trade represents a 9.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Andrew Smith sold 13,110 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $470.66, for a total transaction of $6,170,352.60. Following the completion of the sale, the chief financial officer owned 31,582 shares of the company’s stock, valued at $14,864,384.12. This trade represents a 29.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 19,130 shares of company stock valued at $9,045,544 over the last ninety days. 0.41% of the stock is owned by insiders.

Cummins Price Performance

Cummins stock opened at $594.46 on Tuesday. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $595.25. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 0.52. The firm’s fifty day moving average is $534.21 and its 200 day moving average is $456.28. The company has a market cap of $82.06 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 2.03 and a beta of 1.13.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, November 6th. The company reported $5.59 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.76. The business had revenue of $8.32 billion during the quarter, compared to analysts’ expectations of $7.97 billion. Cummins had a net margin of 7.95% and a return on equity of 26.02%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company posted $5.86 EPS. Sell-side analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on CMI. Wells Fargo & Company raised their target price on shares of Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Zacks Research cut shares of Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Sanford C. Bernstein restated a “market perform” rating and set a $475.00 target price on shares of Cummins in a research note on Friday, November 7th. Wolfe Research downgraded shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 target price for the company. in a report on Monday, January 26th. Finally, UBS Group raised Cummins from a “sell” rating to a “neutral” rating in a report on Tuesday, November 25th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $522.07.

About Cummins

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.