Deutsche Bank AG Sells 72,187 Shares of Cummins Inc. (NYSE:CMI)

Deutsche Bank AG trimmed its position in shares of Cummins Inc. (NYSE:CMIFree Report) by 10.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 646,742 shares of the company’s stock after selling 72,187 shares during the quarter. Deutsche Bank AG owned 0.46% of Cummins worth $147,755,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CMI. Norges Bank purchased a new position in Cummins during the fourth quarter worth $292,182,000. Bank of Montreal Can bought a new stake in shares of Cummins during the second quarter worth $70,435,000. Fisher Asset Management LLC lifted its position in shares of 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 purchasing an additional 283,027 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of 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 purchasing an additional 235,372 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of Cummins by 98.0% during the third quarter. HighTower Advisors LLC now owns 392,915 shares of the company’s stock worth $89,801,000 after purchasing an additional 194,485 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citigroup lifted their target price on Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. decreased their target price on Cummins from $255.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, January 18th. Bank of America downgraded Cummins from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $243.00 to $225.00 in a research report on Friday, January 19th. StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 16th. Finally, TD Cowen lifted their price objective on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $261.11.

Check Out Our Latest Report on Cummins

Cummins Price Performance

CMI opened at $256.83 on Tuesday. The business’s 50-day moving average is $239.49 and its two-hundred day moving average is $233.15. Cummins Inc. has a 1 year low of $203.18 and a 1 year high of $265.28. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. The firm has a market capitalization of $36.40 billion, a PE ratio of 49.58, a price-to-earnings-growth ratio of 1.68 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The company had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter last year, the firm earned $4.52 EPS. Cummins’s revenue for the quarter was up 9.9% on a year-over-year basis. Research analysts anticipate that Cummins Inc. will post 18.64 earnings per share for the current fiscal year.

Cummins Company 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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