First Financial Bank Trust Division Reduces Stake in Cummins Inc. (NYSE:CMI)

First Financial Bank Trust Division trimmed its stake in Cummins Inc. (NYSE:CMI) by 36.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,152 shares of the company’s stock after selling 3,010 shares during the quarter. First Financial Bank Trust Division’s holdings in Cummins were worth $838,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMI. AQR Capital Management LLC lifted its stake in shares of Cummins by 173.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,366,771 shares of the company’s stock valued at $400,387,000 after buying an additional 1,502,462 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Cummins by 41.7% during the 1st quarter. American Century Companies Inc. now owns 3,555,700 shares of the company’s stock valued at $561,338,000 after buying an additional 1,046,677 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Cummins by 445.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,155,182 shares of the company’s stock valued at $197,928,000 after buying an additional 943,285 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Cummins by 5.8% during the 2nd quarter. BlackRock Inc. now owns 11,488,896 shares of the company’s stock valued at $1,968,509,000 after buying an additional 629,235 shares in the last quarter. Finally, Holocene Advisors LP lifted its stake in shares of Cummins by 161.4% during the 2nd quarter. Holocene Advisors LP now owns 782,716 shares of the company’s stock valued at $134,111,000 after buying an additional 483,233 shares in the last quarter. Hedge funds and other institutional investors own 82.30% of the company’s stock.

Cummins stock traded up $2.87 during midday trading on Friday, reaching $157.86. 977,100 shares of the stock were exchanged, compared to its average volume of 1,276,590. The company’s fifty day moving average is $154.82 and its 200-day moving average is $161.34. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.04 and a current ratio of 1.66. The firm has a market cap of $24.86 billion, a PE ratio of 11.93, a PEG ratio of 1.58 and a beta of 1.14. Cummins Inc. has a 52 week low of $124.40 and a 52 week high of $175.91.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, July 30th. The company reported $4.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.38 by ($0.11). The firm had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.36 billion. Cummins had a return on equity of 29.75% and a net margin of 10.74%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the company posted $4.14 EPS. On average, sell-side analysts anticipate that Cummins Inc. will post 15.87 earnings per share for the current fiscal year.

A number of analysts recently commented on CMI shares. Credit Suisse Group upped their price target on shares of Cummins from $198.00 to $203.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. ValuEngine cut shares of Cummins from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Loop Capital cut shares of Cummins from a “hold” rating to a “sell” rating and dropped their price target for the company from $168.00 to $145.00 in a research note on Tuesday, July 2nd. Standpoint Research cut shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley dropped their price target on shares of Cummins from $167.00 to $162.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. Cummins presently has an average rating of “Hold” and a consensus target price of $166.67.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins and other customer brands for the heavy-and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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