Boston Common Asset Management LLC Sells 1,281 Shares of Cummins Inc. $CMI

Boston Common Asset Management LLC lowered its position in Cummins Inc. (NYSE:CMI) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,267 shares of the company’s stock after selling 1,281 shares during the quarter. Boston Common Asset Management LLC’s holdings in Cummins were worth $9,405,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Osterweis Capital Management Inc. purchased a new position in shares of Cummins during the second quarter valued at $31,000. Salomon & Ludwin LLC grew its holdings in Cummins by 1,333.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after acquiring an additional 80 shares in the last quarter. Tripletail Wealth Management LLC purchased a new position in Cummins during the 3rd quarter valued at about $39,000. CNB Bank bought a new stake in shares of Cummins in the 2nd quarter valued at about $43,000. Finally, SJS Investment Consulting Inc. lifted its position in shares of Cummins by 1,414.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $45,000 after purchasing an additional 99 shares during the period. 83.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on CMI shares. UBS Group raised shares of Cummins from a “sell” rating to a “neutral” rating in a research note on Tuesday, November 25th. Raymond James Financial raised Cummins from a “market perform” rating to an “outperform” rating and set a $585.00 price target for the company in a research report on Monday, December 22nd. Sanford C. Bernstein restated a “market perform” rating and set a $475.00 price objective on shares of Cummins in a research note on Friday, November 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cummins in a research note on Monday, December 29th. Finally, Barclays reissued a “positive” rating on shares of Cummins in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Cummins has a consensus rating of “Moderate Buy” and an average target price of $514.00.

Insiders Place Their Bets

In other Cummins news, CFO Mark Andrew Smith sold 13,110 shares of Cummins stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $470.66, for a total transaction of $6,170,352.60. Following the completion of the sale, the chief financial officer directly owned 31,582 shares in the company, valued at approximately $14,864,384.12. The trade was a 29.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Rumsey sold 4,570 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $473.89, for a total transaction of $2,165,677.30. Following the completion of the sale, the chief executive officer owned 42,880 shares in the company, valued at $20,320,403.20. The trade was a 9.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 19,330 shares of company stock valued at $9,135,364. 0.41% of the stock is owned by insiders.

Cummins Price Performance

Shares of CMI opened at $581.53 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.77 and a quick ratio of 1.11. The company’s fifty day moving average price is $516.47 and its 200-day moving average price is $441.99. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $584.70. The firm has a market capitalization of $80.27 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 1.98 and a beta of 1.12.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Thursday, November 6th. The company reported $5.59 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.76. Cummins had a return on equity of 26.02% and a net margin of 7.95%.The company had revenue of $8.32 billion during the quarter, compared to analysts’ expectations of $7.97 billion. During the same quarter in the previous year, the firm posted $5.86 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.