Cummins (CMI) : Exxonmobil Investment Management Inc Tx reduced its stake in Cummins by 3.4% during the most recent quarter end. The investment management company now holds a total of 39,615 shares of Cummins which is valued at $5,088,151 after selling 1,396 shares in Cummins , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Cummins makes up approximately 0.11% of Exxonmobil Investment Management Inc Tx’s portfolio.
Other Hedge Funds, Including , 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.Acropolis Investment Management boosted its stake in CMI in the latest quarter, The investment management firm added 120 additional shares and now holds a total of 8,125 shares of Cummins which is valued at $1,058,281. Cummins makes up approx 0.20% of Acropolis Investment Management’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in CMI by selling 133,046 shares or 66.14% in the most recent quarter. The Hedge Fund company now holds 68,101 shares of CMI which is valued at $8,870,155. Cummins makes up approx 0.04% of Bnp Paribas Arbitrage Sa’s portfolio. Washington Trust Bank added CMI to its portfolio by purchasing 14 company shares during the most recent quarter which is valued at $1,824.Cullinan Associates Inc reduced its stake in CMI by selling 700 shares or 30.17% in the most recent quarter. The Hedge Fund company now holds 1,620 shares of CMI which is valued at $211,005. Cummins makes up approx 0.02% of Cullinan Associates Inc’s portfolio.
Cummins closed down -2.05 points or -1.57% at $128.44 with 19,61,624 shares getting traded on Friday. Post opening the session at $130.11, the shares hit an intraday low of $127.08 and an intraday high of $130.43 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.
Many Wall Street Analysts have commented on Cummins. 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 was Downgraded by Standpoint Research to ” Hold” on Jul 14, 2016.
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.