Northstar Investment Advisors LLC Has $7.93 Million Holdings in Cummins Inc. (CMI)

Northstar Investment Advisors LLC cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,300 shares of the company’s stock after selling 2,440 shares during the quarter. Cummins makes up 1.7% of Northstar Investment Advisors LLC’s portfolio, making the stock its 28th largest position. Northstar Investment Advisors LLC’s holdings in Cummins were worth $7,925,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Csenge Advisory Group increased its stake in shares of Cummins by 1.9% during the 3rd quarter. Csenge Advisory Group now owns 4,454 shares of the company’s stock worth $649,000 after purchasing an additional 84 shares during the last quarter. Stillwater Investment Management LLC lifted its stake in Cummins by 0.7% in the 4th quarter. Stillwater Investment Management LLC now owns 12,249 shares of the company’s stock valued at $1,637,000 after purchasing an additional 90 shares during the last quarter. North Star Investment Management Corp. lifted its stake in Cummins by 3.6% in the 4th quarter. North Star Investment Management Corp. now owns 3,345 shares of the company’s stock valued at $447,000 after purchasing an additional 115 shares during the last quarter. Paradigm Asset Management Co. LLC lifted its stake in Cummins by 0.9% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 17,350 shares of the company’s stock valued at $2,534,000 after purchasing an additional 150 shares during the last quarter. Finally, Acropolis Investment Management LLC lifted its stake in Cummins by 6.9% in the 3rd quarter. Acropolis Investment Management LLC now owns 5,302 shares of the company’s stock valued at $774,000 after purchasing an additional 340 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CMI traded down $0.61 during trading hours on Friday, hitting $138.72. 4,511 shares of the stock were exchanged, compared to its average volume of 1,256,226. Cummins Inc. has a fifty-two week low of $124.40 and a fifty-two week high of $194.18. The company has a quick ratio of 0.94, a current ratio of 1.54 and a debt-to-equity ratio of 0.19. The stock has a market cap of $22.07 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 0.74 and a beta of 1.17.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $4.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.76 by $0.29. Cummins had a net margin of 5.57% and a return on equity of 29.17%. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.96 billion. During the same period in the prior year, the company posted $2.71 earnings per share. Cummins’s revenue for the quarter was up 12.5% compared to the same quarter last year. Sell-side analysts anticipate that Cummins Inc. will post 15.34 EPS for the current fiscal year.

Cummins announced that its board has approved a share repurchase program on Tuesday, October 9th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 8.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

CMI has been the subject of several research reports. Oppenheimer reissued a “buy” rating and issued a $164.00 price objective on shares of Cummins in a research note on Tuesday, October 30th. Stifel Nicolaus reissued a “buy” rating and issued a $172.00 price objective on shares of Cummins in a research note on Monday, October 1st. Zacks Investment Research raised shares of Cummins from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a research note on Wednesday, September 26th. Loop Capital assumed coverage on shares of Cummins in a research report on Wednesday, October 17th. They issued a “buy” rating and a $170.00 price target for the company. Finally, Mizuho set a $145.00 price target on shares of Cummins and gave the company a “hold” rating in a research report on Wednesday, October 31st. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $162.75.

In other Cummins news, CAO Marya M. Rose sold 10,970 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $155.00, for a total value of $1,700,350.00. Following the completion of the sale, the chief accounting officer now directly owns 26,035 shares in the company, valued at $4,035,425. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tony Satterthwaite sold 830 shares of the firm’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $141.61, for a total transaction of $117,536.30. Following the completion of the sale, the insider now owns 40,371 shares of the company’s stock, valued at $5,716,937.31. The disclosure for this sale can be found here. Insiders sold 41,481 shares of company stock valued at $5,863,847 over the last 90 days. Corporate insiders own 0.67% of the company’s stock.

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Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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