Great Lakes Advisors LLC Sells 1,151 Shares of Cummins Inc. $CMI

Great Lakes Advisors LLC decreased its position in Cummins Inc. (NYSE:CMI) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,100 shares of the company’s stock after selling 1,151 shares during the quarter. Great Lakes Advisors LLC’s holdings in Cummins were worth $43,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fidelis Capital Partners LLC lifted its position in Cummins by 14.1% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,407 shares of the company’s stock valued at $594,000 after acquiring an additional 174 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Cummins by 67.3% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 368 shares of the company’s stock worth $155,000 after acquiring an additional 148 shares in the last quarter. one8zero8 LLC purchased a new stake in shares of Cummins in the third quarter worth $211,000. Traynor Capital Management Inc. raised its position in shares of Cummins by 5.0% in the 3rd quarter. Traynor Capital Management Inc. now owns 8,231 shares of the company’s stock worth $3,476,000 after purchasing an additional 395 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Cummins by 8.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,031 shares of the company’s stock valued at $13,107,000 after purchasing an additional 2,417 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CMI shares. Wolfe Research cut shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 target price for the company. in a report on Monday. Wall Street Zen raised Cummins from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cummins in a research report on Monday, December 29th. Sanford C. Bernstein reissued a “market perform” rating and issued a $475.00 target price on shares of Cummins in a research report on Friday, November 7th. Finally, UBS Group raised shares of Cummins from a “sell” rating to a “neutral” rating in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $522.07.

Insider Buying and Selling at Cummins

In other Cummins news, CEO Jennifer Rumsey sold 4,570 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $473.89, for a total value of $2,165,677.30. Following the completion of the transaction, the chief executive officer directly owned 42,880 shares in the company, valued at $20,320,403.20. This represents a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Andrew Smith sold 13,110 shares of Cummins stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $470.66, for a total transaction of $6,170,352.60. Following the transaction, the chief financial officer owned 31,582 shares in the company, valued at approximately $14,864,384.12. This trade represents a 29.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 19,130 shares of company stock valued at $9,045,544 over the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

Cummins Stock Performance

CMI opened at $578.02 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $587.55. The company has a market cap of $79.79 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 2.03 and a beta of 1.12. The company’s 50 day moving average is $527.55 and its 200 day moving average is $450.43.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, November 6th. The company reported $5.59 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.76. Cummins had a return on equity of 26.02% and a net margin of 7.95%.The company had revenue of $8.32 billion for the quarter, compared to analysts’ expectations of $7.97 billion. During the same period last year, the firm earned $5.86 EPS. Cummins’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities research analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

About Cummins

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.