Cummins Inc. (CMI) Shares Sold by Kistler Tiffany Companies LLC

Kistler Tiffany Companies LLC lowered its position in Cummins Inc. (NYSE:CMI) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,280 shares of the company’s stock after selling 250 shares during the quarter. Kistler Tiffany Companies LLC’s holdings in Cummins were worth $305,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CMI. LSV Asset Management increased its position in shares of Cummins by 79.7% in the third quarter. LSV Asset Management now owns 3,234,527 shares of the company’s stock valued at $472,467,000 after buying an additional 1,434,282 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Cummins by 33.4% in the third quarter. Wells Fargo & Company MN now owns 2,330,443 shares of the company’s stock valued at $340,407,000 after buying an additional 583,376 shares in the last quarter. Federated Investors Inc. PA increased its position in shares of Cummins by 300.1% in the third quarter. Federated Investors Inc. PA now owns 642,093 shares of the company’s stock valued at $93,790,000 after buying an additional 481,621 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of Cummins in the third quarter valued at $63,360,000. Finally, Bessemer Group Inc. increased its position in shares of Cummins by 40,331.8% in the third quarter. Bessemer Group Inc. now owns 426,960 shares of the company’s stock valued at $62,366,000 after buying an additional 425,904 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Shares of CMI traded down $0.01 during trading hours on Monday, reaching $139.53. 39,609 shares of the company traded hands, compared to its average volume of 1,294,650. The company has a quick ratio of 0.94, a current ratio of 1.54 and a debt-to-equity ratio of 0.19. The firm has a market cap of $22.07 billion, a P/E ratio of 13.14, a PEG ratio of 0.74 and a beta of 1.17. Cummins Inc. has a fifty-two week low of $124.40 and a fifty-two week high of $194.18.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.29. Cummins had a return on equity of 29.17% and a net margin of 5.57%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.96 billion. During the same period last year, the company earned $2.71 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, equities analysts expect that Cummins Inc. will post 15.34 EPS for the current fiscal year.

Cummins announced that its Board of Directors has initiated a share repurchase program on Tuesday, October 9th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 8.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

In other Cummins news, Director Alexis M. Herman sold 775 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $143.64, for a total value of $111,321.00. Following the sale, the director now directly owns 30,069 shares of the company’s stock, valued at approximately $4,319,111.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Norman Thomas Linebarger sold 24,830 shares of the firm’s stock in a transaction dated Monday, December 17th. The stock was sold at an average price of $133.19, for a total value of $3,307,107.70. Following the completion of the sale, the chief executive officer now directly owns 84,418 shares in the company, valued at $11,243,633.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,481 shares of company stock worth $5,863,847. 0.67% of the stock is owned by corporate insiders.

A number of research analysts have recently weighed in on the company. Zacks Investment Research cut Cummins from a “hold” rating to a “sell” rating in a research report on Wednesday, January 9th. Royal Bank of Canada restated a “hold” rating and issued a $155.00 price target on shares of Cummins in a research report on Monday, December 24th. ValuEngine upgraded Cummins from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 8th. UBS Group set a $130.00 price target on Cummins and gave the company a “sell” rating in a research report on Tuesday, November 6th. Finally, Mizuho set a $145.00 price target on Cummins and gave the company a “hold” rating in a research report on Wednesday, October 31st. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $162.75.

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Cummins Profile

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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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