TD Private Client Wealth LLC Has $5.69 Million Position in Cummins Inc. $CMI

TD Private Client Wealth LLC cut its holdings in Cummins Inc. (NYSE:CMI) by 26.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,475 shares of the company’s stock after selling 4,914 shares during the period. TD Private Client Wealth LLC’s holdings in Cummins were worth $5,691,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CMI. Norges Bank bought a new position in Cummins in the 2nd quarter worth approximately $505,941,000. American Century Companies Inc. boosted its position in shares of Cummins by 138.8% in the second quarter. American Century Companies Inc. now owns 909,653 shares of the company’s stock valued at $297,912,000 after acquiring an additional 528,689 shares during the period. Ontario Teachers Pension Plan Board grew its stake in shares of Cummins by 5,158.9% in the second quarter. Ontario Teachers Pension Plan Board now owns 435,960 shares of the company’s stock worth $142,777,000 after acquiring an additional 427,670 shares during the last quarter. Vanguard Group Inc. increased its position in Cummins by 2.0% during the second quarter. Vanguard Group Inc. now owns 17,628,149 shares of the company’s stock worth $5,773,219,000 after acquiring an additional 344,680 shares during the period. Finally, Amundi increased its position in Cummins by 48.6% during the second quarter. Amundi now owns 1,030,767 shares of the company’s stock worth $343,699,000 after acquiring an additional 337,074 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Zacks Research raised shares of Cummins from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. UBS Group raised shares of Cummins from a “sell” rating to a “neutral” rating in a research report on Tuesday, November 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a research report on Monday, December 29th. Barclays restated a “positive” rating on shares of Cummins in a research note on Friday, December 19th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $475.00 price objective on shares of Cummins in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cummins presently has a consensus rating of “Moderate Buy” and a consensus target price of $492.75.

Insider Buying and Selling at Cummins

In other Cummins news, CFO Mark Andrew Smith sold 13,110 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $470.66, for a total value of $6,170,352.60. Following the transaction, the chief financial officer directly owned 31,582 shares in the company, valued at $14,864,384.12. The trade was a 29.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brett Michael Merritt sold 1,450 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total transaction of $709,514.00. Following the sale, the insider directly owned 9,271 shares in the company, valued at $4,536,485.72. This represents a 13.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 19,330 shares of company stock valued at $9,135,364. 0.41% of the stock is currently owned by company insiders.

Cummins Stock Up 1.8%

NYSE CMI opened at $562.23 on Tuesday. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $562.80. The company has a market capitalization of $77.61 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 1.93 and a beta of 1.12. The stock’s 50 day moving average is $501.02 and its two-hundred day moving average is $430.78. 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 (NYSE:CMI) last posted its earnings results on Thursday, November 6th. The company reported $5.59 EPS for the quarter, topping the consensus estimate of $4.83 by $0.76. The business had revenue of $8.32 billion during the quarter, compared to the consensus estimate of $7.97 billion. Cummins had a return on equity of 26.02% and a net margin of 7.95%.Cummins’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $5.86 EPS. Equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Profile

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.