Community Bank N.a. buys $1,554,426 stake in Cummins (CMI)

Cummins (CMI) : Community Bank N.a. scooped up 200 additional shares in Cummins during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 12,324 shares of Cummins which is valued at $1,554,426.Cummins makes up approximately 0.36% of Community Bank N.a.’s portfolio.

Other Hedge Funds, Including , First Premier Bank added CMI to its portfolio by purchasing 2,082 company shares during the most recent quarter which is valued at $262,603. Cummins makes up approx 0.20% of First Premier Bank’s portfolio.Capstone Asset Management Co reduced its stake in CMI by selling 516 shares or 2.97% in the most recent quarter. The Hedge Fund company now holds 16,882 shares of CMI which is valued at $2,158,533. Cummins makes up approx 0.06% of Capstone Asset Management Co’s portfolio.First Mercantile Trust Co reduced its stake in CMI by selling 7,085 shares or 80.76% in the most recent quarter. The Hedge Fund company now holds 1,688 shares of CMI which is valued at $216,807. Cummins makes up approx 0.03% of First Mercantile Trust Co’s portfolio.Advisory Services Network boosted its stake in CMI in the latest quarter, The investment management firm added 4,747 additional shares and now holds a total of 12,211 shares of Cummins which is valued at $1,568,381. Cummins makes up approx 0.30% of Advisory Services Network’s portfolio. West Oak Capital added CMI to its portfolio by purchasing 27 company shares during the most recent quarter which is valued at $3,517.

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.

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