Calamos Advisors LLC boosted its position in shares of Cummins Inc. (NYSE:CMI) by 0.0% during the second quarter, Holdings Channel reports. The fund owned 30,058 shares of the company’s stock after buying an additional 7 shares during the period. Calamos Advisors LLC’s holdings in Cummins were worth $3,380,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of CMI. Motley Fool Wealth Management LLC boosted its stake in Cummins by 3.7% in the first quarter. Motley Fool Wealth Management LLC now owns 61,803 shares of the company’s stock worth $6,795,000 after buying an additional 2,183 shares during the last quarter. Cannell Peter B & Co Inc boosted its position in shares of Cummins by 28.7% in the first quarter. Cannell Peter B & Co Inc now owns 7,015 shares of the company’s stock valued at $771,000 after buying an additional 1,565 shares during the period. M&T Bank Corp boosted its position in shares of Cummins by 13.1% in the first quarter. M&T Bank Corp now owns 34,253 shares of the company’s stock valued at $3,765,000 after buying an additional 3,963 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in shares of Cummins during the first quarter valued at about $3,702,000. Finally, Adell Harriman & Carpenter Inc. boosted its position in shares of Cummins by 33.5% in the first quarter. Adell Harriman & Carpenter Inc. now owns 12,605 shares of the company’s stock valued at $1,386,000 after buying an additional 3,160 shares during the period. 81.36% of the stock is owned by institutional investors.
Cummins Inc. (NYSE:CMI) traded up 3.13% during midday trading on Friday, reaching $128.15. The company’s stock had a trading volume of 1,760,960 shares. The firm has a 50 day moving average price of $122.84 and a 200 day moving average price of $116.57. Cummins Inc. has a 1-year low of $79.88 and a 1-year high of $128.60. The firm has a market capitalization of $21.53 billion, a PE ratio of 17.55 and a beta of 1.48.
Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.25. The business had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Cummins had a return on equity of 19.48% and a net margin of 6.97%. Cummins’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.62 earnings per share. On average, analysts predict that Cummins Inc. will post $8.14 EPS for the current year.
Several analysts recently commented on the stock. Credit Agricole SA assumed coverage on shares of Cummins in a research report on Friday. They set a “buy” rating and a $150.00 price target on the stock. Standpoint Research lowered shares of Cummins from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. Jefferies Group reiterated a “hold” rating and issued a $115.00 target price on shares of Cummins in a research report on Thursday, July 7th. William Blair set a $110.00 price target on shares of Cummins and gave the stock a “hold” rating in a research note on Thursday, September 8th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $114.00 price target on shares of Cummins in a research note on Monday, September 12th. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $111.35.
In other news, VP Marsha L. Hunt sold 500 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $126.26, for a total transaction of $63,130.00. Following the sale, the vice president now owns 2,582 shares in the company, valued at $326,003.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jill E. Cook sold 5,981 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $120.20, for a total value of $718,916.20. Following the sale, the insider now owns 24,800 shares in the company, valued at approximately $2,980,960. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.
Cummins Company Profile
Cummins Inc is a manufacturer of diesel engines. The Company operates through four segments: Engine, Distribution, Components and Power Generation. Its 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, agricultural and governmental equipment markets.
Want to see what other hedge funds are holding CMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cummins Inc. (NYSE:CMI).
Receive News & Ratings for Cummins Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins Inc. and related companies with MarketBeat.com's FREE daily email newsletter.