Cummins Inc. $CMI Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of Cummins Inc. (NYSE:CMI) by 11.0% during the 3rd quarter, Holdings Channel reports. The fund owned 74,912 shares of the company’s stock after selling 9,288 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cummins were worth $31,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new stake in shares of Cummins during the third quarter valued at about $28,000. Salomon & Ludwin LLC increased its stake in Cummins by 1,333.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock valued at $37,000 after buying an additional 80 shares during the period. Tripletail Wealth Management LLC acquired a new position in Cummins during the 3rd quarter valued at about $39,000. Osterweis Capital Management Inc. bought a new stake in shares of Cummins during the 2nd quarter worth about $31,000. Finally, SJS Investment Consulting Inc. lifted its stake in shares of Cummins by 1,414.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $45,000 after acquiring an additional 99 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

Shares of NYSE:CMI opened at $571.34 on Monday. The company’s fifty day moving average is $520.97 and its two-hundred day moving average is $446.25. The company has a market cap of $78.87 billion, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12. The company has a quick ratio of 1.11, a current ratio of 1.77 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.

Cummins (NYSE:CMI) last released its quarterly earnings data on Thursday, November 6th. The company reported $5.59 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.76. The firm had revenue of $8.32 billion for the quarter, compared to analyst estimates of $7.97 billion. Cummins had a net margin of 7.95% and a return on equity of 26.02%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.86 EPS. Equities analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Cummins

In related news, CEO Jennifer Rumsey sold 4,570 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $473.89, for a total value of $2,165,677.30. Following the transaction, the chief executive officer owned 42,880 shares in the company, valued at approximately $20,320,403.20. This represents a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brett Michael Merritt sold 1,450 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $489.32, for a total transaction of $709,514.00. Following the transaction, the insider directly owned 9,271 shares in the company, valued at approximately $4,536,485.72. The trade was a 13.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,330 shares of company stock worth $9,135,364 over the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on CMI shares. JPMorgan Chase & Co. raised their price objective on shares of Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Argus lifted their price target on Cummins from $459.00 to $573.00 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Wall Street Zen raised Cummins from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Raymond James Financial raised Cummins from a “market perform” rating to an “outperform” rating and set a $585.00 target price for the company in a research note on Monday, December 22nd. Finally, UBS Group raised Cummins from a “sell” rating to a “neutral” rating in a report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $520.79.

Cummins Company 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.