Cummins (CMI) : Pensionfund Dsm Netherlands added new position in Cummins during the most recent quarter end. The investment management firm now holds 32,000 shares of Cummins which is valued at $4,091,520 , the company said in a statement filed on Oct 12, 2016 with the SEC.Cummins makes up approximately 0.56% of Pensionfund Dsm Netherlands’s portfolio.
Other Hedge Funds, Including , Gofen Glossberg Il reduced its stake in CMI by selling 206 shares or 1.1% in the most recent quarter. The Hedge Fund company now holds 18,442 shares of CMI which is valued at $2,363,711. Cummins makes up approx 0.10% of Gofen Glossberg Il’s portfolio. Washington Trust Bank added CMI to its portfolio by purchasing 14 company shares during the most recent quarter which is valued at $1,824.Cullinan Associates Inc reduced its stake in CMI by selling 700 shares or 30.17% in the most recent quarter. The Hedge Fund company now holds 1,620 shares of CMI which is valued at $211,005. Cummins makes up approx 0.02% of Cullinan Associates Inc’s portfolio.
Cummins closed down -0.31 points or -0.24% at $127.86 with 24,42,512 shares getting traded on Tuesday. Post opening the session at $130.52, the shares hit an intraday low of $127.48 and an intraday high of $131.04 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
On the company’s financial health, Cummins reported $2.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.22 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $2.18. The company had revenue of $4528.00 million for the quarter, compared to analysts expectations of $4498.39 million. The company’s revenue was down -9.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.62 EPS.
Many Wall Street Analysts have commented on Cummins. Cummins was Upgraded by Goldman to ” Buy” on Oct 11, 2016. Cummins was Initiated by CLSA to “Buy” on Sep 30, 2016. Deutsche Bank Initiated Cummins on Sep 7, 2016 to “Sell”, Price Target of the shares are set at $111.
Cummins Inc. is a global diesel engine manufacturer. The Company designs manufactures 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. It has four operating segments: Engine Distribution Components and Power Generation. The Company sells its products to original equipment manufacturers (OEMs) distributors and other customers. It serves its customers through a network of around 600 Company-owned and independent distributor locations and around 7200 dealer locations in more than 190 countries. In addition engines and engine components are manufactured by the Company’s joint ventures or independent licensees at its manufacturing plants in the United States China India South Korea Mexico and Sweden. Its subsidiaries include Cummins India Ltd. and Wuxi Cummins Turbo Technologies Co. Ltd.