Great Valley Advisor Group Inc. Has $911,000 Position in Cummins Inc. (NYSE:CMI)

Great Valley Advisor Group Inc. lifted its position in shares of Cummins Inc. (NYSE:CMIFree Report) by 18.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,986 shares of the company’s stock after buying an additional 623 shares during the period. Great Valley Advisor Group Inc.’s holdings in Cummins were worth $911,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Cummins during the fourth quarter worth about $292,182,000. Bank of Montreal Can bought a new stake in Cummins during the second quarter worth about $70,435,000. Fisher Asset Management LLC raised its holdings in Cummins by 13.6% during the second quarter. Fisher Asset Management LLC now owns 2,361,324 shares of the company’s stock worth $578,902,000 after acquiring an additional 283,027 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Cummins by 28.2% during the third quarter. Principal Financial Group Inc. now owns 1,071,128 shares of the company’s stock worth $244,710,000 after acquiring an additional 235,372 shares in the last quarter. Finally, State Street Corp raised its holdings in Cummins by 3.0% during the first quarter. State Street Corp now owns 6,482,278 shares of the company’s stock worth $1,548,473,000 after acquiring an additional 191,776 shares in the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMI has been the topic of several analyst reports. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 16th. Bank of America lowered Cummins from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $243.00 to $225.00 in a research note on Friday, January 19th. Morgan Stanley assumed coverage on Cummins in a research note on Monday, January 8th. They issued an “overweight” rating and a $278.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Cummins from $255.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $260.38.

Check Out Our Latest Analysis on CMI

Cummins Price Performance

Shares of NYSE CMI opened at $242.80 on Wednesday. The firm has a market cap of $34.41 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 1.30 and a beta of 1.03. The company has a current ratio of 1.43, a quick ratio of 0.90 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $265.28. The business’s 50 day moving average is $235.54 and its 200-day moving average is $233.83.

Cummins (NYSE:CMIGet Free Report) last announced its earnings results on Thursday, November 2nd. The company reported $4.73 earnings per share for the quarter, topping analysts’ consensus estimates of $4.63 by $0.10. The company had revenue of $8.43 billion for the quarter, compared to analyst estimates of $8.14 billion. Cummins had a return on equity of 26.12% and a net margin of 8.40%. Equities research analysts predict that Cummins Inc. will post 19.95 earnings per share for the current year.

Cummins Profile

(Free Report)

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and New Power. The company offers 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; and offers new parts and services, as well as remanufactured parts and engines.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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