Cummins (CMI) : Laurel Grove Capital scooped up 150 additional shares in Cummins during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 17, 2016. The investment management firm now holds a total of 29,535 shares of Cummins which is valued at $3,714,322.Cummins makes up approximately 2.15% of Laurel Grove Capital’s portfolio.
Other Hedge Funds, Including , Ronald Blue Co boosted its stake in CMI in the latest quarter, The investment management firm added 330 additional shares and now holds a total of 4,036 shares of Cummins which is valued at $507,567. Cummins makes up approx 0.02% of Ronald Blue Co’s portfolio.Murphy Pohlad Asset Management reduced its stake in CMI by selling 200 shares or 1.35% in the most recent quarter. The Hedge Fund company now holds 14,660 shares of CMI which is valued at $1,849,066. Cummins makes up approx 1.40% of Murphy Pohlad Asset Management’s portfolio.Osborn Rohs Williams Donohoe Ltd reduced its stake in CMI by selling 850 shares or 3.73% in the most recent quarter. The Hedge Fund company now holds 21,948 shares of CMI which is valued at $2,806,271. Cummins makes up approx 0.55% of Osborn Rohs Williams Donohoe Ltd’s portfolio.Raymond James Trust N.a. reduced its stake in CMI by selling 54 shares or 1.56% in the most recent quarter. The Hedge Fund company now holds 3,399 shares of CMI which is valued at $435,650. Cummins makes up approx 0.04% of Raymond James Trust N.a.’s portfolio.Stillwater Investment Management boosted its stake in CMI in the latest quarter, The investment management firm added 303 additional shares and now holds a total of 11,748 shares of Cummins which is valued at $1,530,177. Cummins makes up approx 0.83% of Stillwater Investment Management’s portfolio.
Cummins closed down -0.37 points or -0.29% at $125.76 with 10,30,723 shares getting traded on Friday. Post opening the session at $126.4, the shares hit an intraday low of $125.76 and an intraday high of $128.43 and the price fluctuated in this range throughout the day.Shares ended Friday 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.
Investors should note that on Oct 11, 2016, Cummins announced a cash dividend of $1.0250. The company’s management has announced Nov 17, 2016 as the ex-dividend date and fixed the record date on Nov 21, 2016. The payable date has been fixed on Dec 1, 2016.
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.