The stock of Cummins Inc. (NYSE:CMI) is a huge mover today! About 612,331 shares traded hands. Cummins Inc. (NYSE:CMI) has risen 25.93% since March 8, 2016 and is uptrending. It has outperformed by 16.61% the S&P500.
The move comes after 6 months positive chart setup for the $22.00 billion company. It was reported on Oct, 11 by Barchart.com. We have $173.87 PT which if reached, will make NYSE:CMI worth $7.26B more.
Analysts await Cummins Inc. (NYSE:CMI) to report earnings on October, 25. They expect $1.93 earnings per share, down 9.81% or $0.21 from last year’s $2.14 per share. CMI’s profit will be $324.79M for 16.93 P/E if the $1.93 EPS becomes a reality. After $2.40 actual earnings per share reported by Cummins Inc. for the previous quarter, Wall Street now forecasts -19.58% negative EPS growth.
Cummins Inc. (NYSE:CMI) Ratings Coverage
Out of 19 analysts covering Cummins (NYSE:CMI), 3 rate it a “Buy”, 3 “Sell”, while 13 “Hold”. This means 16% are positive. $162 is the highest target while $79 is the lowest. The $109.28 average target is -16.41% below today’s ($130.73) stock price. Cummins has been the topic of 44 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was downgraded by Robert W. Baird on Wednesday, October 28 to “Neutral”. UBS downgraded Cummins Inc. (NYSE:CMI) rating on Tuesday, October 20. UBS has “Neutral” rating and $111 price target. Robert W. Baird downgraded Cummins Inc. (NYSE:CMI) on Thursday, April 21 to “Underperform” rating. The stock has “Hold” rating given by Standpoint Research on Thursday, July 14. Macquarie Research maintained it with “Outperform” rating and $111 target price in Friday, February 5 report. William Blair downgraded Cummins Inc. (NYSE:CMI) on Friday, September 25 to “Market Perform” rating. The company was maintained on Wednesday, October 28 by Argus Research. Piper Jaffray maintained Cummins Inc. (NYSE:CMI) rating on Thursday, April 21. Piper Jaffray has “Overweight” rating and $132 price target. The firm has “Buy” rating given on Friday, August 21 by Standpoint Research. The firm has “Hold” rating by Jefferies given on Thursday, September 1.
According to Zacks Investment Research, “Cummins Inc. is one of the leading worldwide designers and manufacturers of diesel engines. The company also produces natural gas engines and engine components and subsystems. Cummins provides power and components for a wide variety of equipment in its key businesses: engine, power generation, and filtration.”
Insitutional Activity: The institutional sentiment decreased to 0.95 in Q2 2016. Its down 0.12, from 1.07 in 2016Q1. The ratio fall, as 75 funds sold all Cummins Inc. shares owned while 250 reduced positions. 62 funds bought stakes while 246 increased positions. They now own 134.04 million shares or 12.52% less from 153.23 million shares in 2016Q1.
Cornercap Investment Counsel, a Georgia-based fund reported 11,895 shares. Cincinnati Ins has 2.46% invested in the company for 666,500 shares. Hall Laurie J Trustee owns 280 shares or 0.02% of their US portfolio. Edinburgh Limited holds 500 shares or 0.01% of its portfolio. Ridgeworth Management Limited Com holds 0% or 432 shares in its portfolio. Gofen & Glossberg Limited Liability Il holds 0.09% of its portfolio in Cummins Inc. (NYSE:CMI) for 18,648 shares. Liberty Mutual Asset accumulated 0.04% or 10,950 shares. Teacher Retirement System Of Texas holds 274,726 shares or 0.21% of its portfolio. Thrivent For Lutherans owns 39,446 shares or 0.02% of their US portfolio. Moody Fincl Bank Division has 0.03% invested in the company for 4,365 shares. Glenmede Tru Company Na last reported 57,687 shares in the company. Los Angeles Capital Equity Inc has 11,344 shares for 0.01% of their US portfolio. Envestnet Asset Management Inc holds 0.02% or 40,737 shares in its portfolio. Nordea Mgmt accumulated 0.35% or 1.06M shares. Community Bank Na holds 12,124 shares or 0.32% of its portfolio.
Insider Transactions: Since April 18, 2016, the stock had 0 buys, and 15 selling transactions for $5.30 million net activity. Shares for $123,446 were sold by HERMAN ALEXIS M. Ewald Thaddeus B also sold $104,099 worth of Cummins Inc. (NYSE:CMI) on Thursday, August 11. Shares for $63,132 were sold by HUNT MARSHA L on Monday, August 8. Shares for $568,845 were sold by Talaulicar Anant. $98,446 worth of Cummins Inc. (NYSE:CMI) shares were sold by ROSE MARYA M. CHAPMAN STEVEN M also sold $375,000 worth of Cummins Inc. (NYSE:CMI) shares. The insider Cook Jill E sold $718,916.
More recent Cummins Inc. (NYSE:CMI) news were published by: Seekingalpha.com which released: “Cummins Inc: A Strong Reputation Gives Rise To Opportunities” on October 04, 2016. Also Reuters.com published the news titled: “Fiat Chrysler, Cummins spar over costs of diesel emission recall” on October 10, 2016. Benzinga.com‘s news article titled: “Benzinga’s Top Upgrades” with publication date: October 11, 2016 was also an interesting one.
CMI Company Profile
Cummins Inc., incorporated on February 3, 1919, is a maker of diesel engines. The Firm designs, makes, distributes and services diesel and natural gas engines and engine-related component products, including filtration, after treatment, turbochargers, fuel systems, controls systems, air handling systems and electric power generation systems. The Firm operates through four divisions: Engine, Distribution, Components and Power Generation. The Firm sells its products to original equipment manufacturers (OEMs), distributors and other clients across the world. The Firm serves its clients through a network of approximately 600 Company-owned and independent distributor locations and approximately 7,200 dealer locations in over 190 countries and territories. It has presence in the United States, China, India, South Korea, Mexico and Sweden.
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