Weybosset Research & Management LLC Has $6.32 Million Holdings in Cummins Inc. (CMI)

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Weybosset Research & Management LLC trimmed its stake in Cummins Inc. (NYSE:CMI) by 0.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,027 shares of the company’s stock after selling 155 shares during the period. Cummins comprises about 3.7% of Weybosset Research & Management LLC’s investment portfolio, making the stock its 13th largest position. Weybosset Research & Management LLC’s holdings in Cummins were worth $6,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Plimoth Trust Co. LLC grew its holdings in shares of Cummins by 0.9% in the fourth quarter. Plimoth Trust Co. LLC now owns 7,639 shares of the company’s stock valued at $1,021,000 after acquiring an additional 70 shares in the last quarter. Wetherby Asset Management Inc. grew its holdings in Cummins by 1.7% during the fourth quarter. Wetherby Asset Management Inc. now owns 4,578 shares of the company’s stock valued at $612,000 after purchasing an additional 75 shares during the period. Stratos Wealth Partners LTD. grew its holdings in Cummins by 1.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 5,086 shares of the company’s stock valued at $680,000 after purchasing an additional 75 shares during the period. Unison Advisors LLC grew its holdings in Cummins by 0.7% during the fourth quarter. Unison Advisors LLC now owns 10,570 shares of the company’s stock valued at $1,412,000 after purchasing an additional 77 shares during the period. Finally, Hudock Capital Group LLC grew its holdings in Cummins by 12.8% during the fourth quarter. Hudock Capital Group LLC now owns 698 shares of the company’s stock valued at $92,000 after purchasing an additional 79 shares during the period. Hedge funds and other institutional investors own 82.11% of the company’s stock.

Shares of Cummins stock traded down $0.75 during trading hours on Monday, reaching $165.32. The company had a trading volume of 8,949 shares, compared to its average volume of 1,157,195. Cummins Inc. has a one year low of $124.40 and a one year high of $172.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.54 and a quick ratio of 0.95. The firm has a market capitalization of $26.15 billion, a P/E ratio of 12.49, a PEG ratio of 1.14 and a beta of 1.09.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Wednesday, February 6th. The company reported $3.48 EPS for the quarter, missing the Zacks’ consensus estimate of $3.81 by ($0.33). Cummins had a return on equity of 29.71% and a net margin of 9.01%. The company had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $6.08 billion. During the same period in the previous year, the business earned $3.03 earnings per share. Cummins’s revenue was up 11.9% on a year-over-year basis. Sell-side analysts expect that Cummins Inc. will post 15.46 earnings per share for the current fiscal year.

In related news, VP Tracy A. Embree sold 206 shares of the stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $150.00, for a total value of $30,900.00. Following the sale, the vice president now owns 4,221 shares in the company, valued at $633,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Srikanth Padmanabhan sold 1,687 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $160.00, for a total value of $269,920.00. The disclosure for this sale can be found here. Insiders sold 6,816 shares of company stock worth $1,039,321 in the last quarter. 0.67% of the stock is currently owned by company insiders.

CMI has been the subject of several research reports. Zacks Investment Research lowered Cummins from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Mizuho set a $155.00 price objective on Cummins and gave the company a “hold” rating in a report on Saturday, February 9th. CIBC reissued a “market perform” rating on shares of Cummins in a report on Thursday, February 7th. Royal Bank of Canada reissued a “hold” rating and set a $155.00 price objective on shares of Cummins in a report on Monday, December 24th. Finally, Piper Jaffray Companies set a $195.00 price objective on Cummins and gave the company a “buy” rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $162.24.

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About Cummins

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.

Further Reading: Coverage Ratio

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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