Jaffetilchin Investment Partners LLC Buys New Holdings in Cummins Inc. (CMI)

Jaffetilchin Investment Partners LLC bought a new position in Cummins Inc. (NYSE:CMI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,752 shares of the company’s stock, valued at approximately $309,000.

Several other institutional investors have also bought and sold shares of CMI. Eaton Vance Management bought a new stake in shares of Cummins in the 2nd quarter worth $593,000. Alliancebernstein L.P. increased its holdings in shares of Cummins by 12.6% in the 2nd quarter. Alliancebernstein L.P. now owns 345,683 shares of the company’s stock worth $56,077,000 after purchasing an additional 38,745 shares in the last quarter. Stephens Inc. AR increased its holdings in shares of Cummins by 6.1% in the 2nd quarter. Stephens Inc. AR now owns 3,884 shares of the company’s stock worth $630,000 after purchasing an additional 223 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of Cummins in the 2nd quarter worth $137,000. Finally, BlackRock Inc. increased its holdings in shares of Cummins by 4.1% in the 2nd quarter. BlackRock Inc. now owns 10,633,275 shares of the company’s stock worth $1,724,930,000 after purchasing an additional 422,135 shares in the last quarter. 82.31% of the stock is owned by institutional investors and hedge funds.

A number of research firms have commented on CMI. Zacks Investment Research lowered Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Barclays began coverage on Cummins in a report on Tuesday, December 12th. They issued an “equal weight” rating and a $180.00 target price for the company. Piper Jaffray Companies set a $175.00 target price on Cummins and gave the stock a “hold” rating in a report on Sunday, December 10th. Oppenheimer began coverage on Cummins in a report on Thursday, December 7th. They issued an “outperform” rating and a $192.00 target price for the company. Finally, Goldman Sachs Group lowered Cummins from a “buy” rating to a “neutral” rating and set a $180.00 target price for the company. in a report on Thursday, November 30th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Cummins has a consensus rating of “Hold” and an average price target of $178.69.

Shares of Cummins Inc. (NYSE CMI) opened at $184.18 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. Cummins Inc. has a fifty-two week low of $134.06 and a fifty-two week high of $185.10. The company has a market capitalization of $30,521.42, a price-to-earnings ratio of 18.67, a P/E/G ratio of 1.32 and a beta of 1.14.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $2.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.47 by $0.24. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $4.79 billion. Cummins had a return on equity of 21.28% and a net margin of 8.49%. Cummins’s revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.02 earnings per share. analysts forecast that Cummins Inc. will post 10.2 EPS for the current fiscal year.

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Cummins Profile

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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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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