Cummins Inc. (CMI) Shares Sold by GSA Capital Partners LLP
GSA Capital Partners LLP trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,259 shares of the company’s stock after selling 84 shares during the period. GSA Capital Partners LLP’s holdings in Cummins were worth $691,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Carroll Financial Associates Inc. boosted its holdings in shares of Cummins by 13.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 702 shares of the company’s stock worth $113,000 after buying an additional 83 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Cummins in the 2nd quarter worth $137,000. Acrospire Investment Management LLC bought a new position in shares of Cummins in the 2nd quarter worth $146,000. First Interstate Bank lifted its holdings in shares of Cummins by 26.3% in the 1st quarter. First Interstate Bank now owns 931 shares of the company’s stock worth $141,000 after purchasing an additional 194 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new position in shares of Cummins in the 1st quarter worth $150,000. Hedge funds and other institutional investors own 80.38% of the company’s stock.
A number of brokerages recently issued reports on CMI. Zacks Investment Research cut Cummins from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine cut Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Piper Jaffray Companies reiterated a “hold” rating and issued a $159.00 target price on shares of Cummins in a report on Tuesday, September 12th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $166.00 target price on shares of Cummins in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. Cummins presently has an average rating of “Hold” and an average price target of $162.02.
Shares of Cummins Inc. (CMI) opened at 171.71 on Friday. Cummins Inc. has a 52-week low of $121.22 and a 52-week high of $172.72. The company has a 50-day moving average price of $162.27 and a 200-day moving average price of $158.36. The stock has a market capitalization of $28.68 billion, a price-to-earnings ratio of 19.41 and a beta of 1.13.
Cummins (NYSE:CMI) last released its earnings results on Tuesday, August 1st. The company reported $2.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.58 by ($0.05). Cummins had a return on equity of 20.67% and a net margin of 8.10%. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the firm posted $2.40 earnings per share. The company’s revenue was up 12.1% compared to the same quarter last year. On average, equities analysts anticipate that Cummins Inc. will post $7.98 earnings per share for the current year.
In other news, Director Franklin R. Changdiaz sold 1,633 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $159.27, for a total value of $260,087.91. Following the completion of the transaction, the director now owns 5,814 shares in the company, valued at $925,995.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tony Satterthwaite sold 4,000 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $169.00, for a total value of $676,000.00. Following the completion of the transaction, the insider now owns 41,902 shares of the company’s stock, valued at approximately $7,081,438. The disclosure for this sale can be found here. Insiders sold 17,633 shares of company stock valued at $2,942,108 in the last 90 days. Company insiders own 0.62% of the company’s stock.
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Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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