Cummins Inc. (NYSE:CMI) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Cummins Inc. (NYSE:CMIFree Report) by 9.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,667 shares of the company’s stock after selling 15,226 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cummins were worth $35,107,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Steward Financial Group LLC acquired a new position in shares of Cummins in the 2nd quarter valued at approximately $27,000. OFI Invest Asset Management bought a new stake in shares of Cummins in the third quarter worth $25,000. Tyler Stone Wealth Management acquired a new stake in Cummins in the second quarter valued at $30,000. Global Wealth Strategies & Associates bought a new position in Cummins during the 3rd quarter valued at $29,000. Finally, Quarry LP acquired a new position in Cummins during the 1st quarter worth $32,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

Cummins Stock Up 0.7 %

Cummins stock opened at $251.78 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 1.18. Cummins Inc. has a one year low of $203.18 and a one year high of $265.28. The company has a 50-day simple moving average of $238.98 and a 200-day simple moving average of $233.32. The firm has a market capitalization of $35.69 billion, a P/E ratio of 48.61, a P/E/G ratio of 1.67 and a beta of 1.02.

Cummins (NYSE:CMIGet Free Report) last posted its earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.27). The firm had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. Cummins’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the company posted $4.52 EPS. As a group, equities analysts expect that Cummins Inc. will post 18.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 16th. TD Cowen increased their target price on Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday. TheStreet downgraded Cummins from an “a-” rating to a “c+” rating in a report on Tuesday. JPMorgan Chase & Co. reduced 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. Finally, Bank of America lowered shares of Cummins from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $243.00 to $225.00 in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $261.67.

Check Out Our Latest Stock Report on CMI

About Cummins

(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.

Further Reading

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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