Cummins (CMI) : Laurel Grove Capital scooped up 50 additional shares in Cummins during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 18, 2016. The investment management firm now holds a total of 30,385 shares of Cummins which is valued at $3,528,002.Cummins makes up approximately 1.98% of Laurel Grove Capital’s portfolio.
Cummins opened for trading at $114.67 and hit $116.61 on the upside on Friday, eventually ending the session at $116.11, with a gain of 0.84% or 0.97 points. The heightened volatility saw the trading volume jump to 27,73,469 shares. Company has a market cap of $20,240 M.
Other Hedge Funds, Including , Weybosset Research Management boosted its stake in CMI in the latest quarter, The investment management firm added 361 additional shares and now holds a total of 38,083 shares of Cummins which is valued at $4,421,817. Cummins makes up approx 3.62% of Weybosset Research Management’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in CMI in the latest quarter, The investment management firm added 3,991 additional shares and now holds a total of 44,865 shares of Cummins which is valued at $5,173,832. Cummins makes up approx 0.12% of Oregon Public Employees Retirement Fund’s portfolio.Wunderlich Securities reduced its stake in CMI by selling 160 shares or 4.46% in the most recent quarter. The Hedge Fund company now holds 3,431 shares of CMI which is valued at $395,663. Cummins makes up approx 0.59% of Wunderlich Securities’s portfolio.Beese Fulmer Investment Management boosted its stake in CMI in the latest quarter, The investment management firm added 1,395 additional shares and now holds a total of 31,786 shares of Cummins which is valued at $3,665,562. Cummins makes up approx 1.05% of Beese Fulmer Investment Management’s portfolio.First Financial Bank N.a. – Trust Division reduced its stake in CMI by selling 7,297 shares or 46.02% in the most recent quarter. The Hedge Fund company now holds 8,560 shares of CMI which is valued at $909,586. Cummins makes up approx 0.18% of First Financial Bank N.a. – Trust Division’s portfolio.
On the company’s financial health, Cummins reported $2.02 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Feb 4, 2016. Analyst had a consensus of $2.10. The company had revenue of $4766.00 million for the quarter, compared to analysts expectations of $4670.96 million. The company’s revenue was down -6.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.56 EPS.
Many Wall Street Analysts have commented on Cummins. Company shares were Downgraded by Robert W. Baird on Apr 21, 2016 to ” Underperform”, Firm has raised the Price Target to $ 110 from a previous price target of $96 .Cummins was Upgraded by BofA/Merrill to ” Neutral” on Apr 18, 2016. Company shares were Reiterated by Barclays on Apr 13, 2016 to “Underweight”, Firm has raised the Price Target to $ 90 from a previous price target of $88 .
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.