Prime Capital Investment Advisors LLC Has $440,000 Stake in Cummins Inc. (CMI)

Prime Capital Investment Advisors LLC lifted its position in Cummins Inc. (NYSE:CMI) by 1,052.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,788 shares of the company’s stock after purchasing an additional 2,546 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Cummins were worth $440,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverview Trust Co bought a new stake in shares of Cummins in the 4th quarter worth about $27,000. Ipswich Investment Management Co. Inc. bought a new stake in shares of Cummins in the 4th quarter worth about $28,000. Bremer Trust National Association bought a new stake in shares of Cummins in the 4th quarter worth about $35,000. We Are One Seven LLC bought a new stake in shares of Cummins in the 4th quarter worth about $37,000. Finally, Massey Quick Simon & CO. LLC bought a new stake in shares of Cummins in the 4th quarter worth about $38,000. 82.08% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:CMI opened at $167.22 on Wednesday. Cummins Inc. has a 12 month low of $124.40 and a 12 month high of $172.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.95 and a current ratio of 1.54. The stock has a market cap of $26.33 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 1.14 and a beta of 1.09.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Wednesday, February 6th. The company reported $3.48 EPS for the quarter, missing analysts’ consensus estimates of $3.81 by ($0.33). Cummins had a return on equity of 29.71% and a net margin of 9.01%. The company had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $6.08 billion. During the same period in the prior year, the company earned $3.03 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. Analysts expect that Cummins Inc. will post 15.47 earnings per share for the current fiscal year.

In other Cummins news, Director Alexis M. Herman sold 423 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $150.12, for a total transaction of $63,500.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Srikanth Padmanabhan sold 1,687 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $160.00, for a total transaction of $269,920.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,816 shares of company stock worth $1,039,321. Corporate insiders own 0.95% of the company’s stock.

CMI has been the topic of several analyst reports. Royal Bank of Canada reaffirmed a “hold” rating and issued a $155.00 target price on shares of Cummins in a report on Monday, December 24th. Zacks Investment Research lowered shares of Cummins from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Credit Suisse Group reaffirmed a “buy” rating and issued a $168.00 target price on shares of Cummins in a report on Tuesday, January 22nd. Robert W. Baird raised shares of Cummins from a “neutral” rating to an “outperform” rating and set a $148.40 target price on the stock in a report on Thursday, February 7th. Finally, Oppenheimer reissued a “market perform” rating and set a $164.00 price objective on shares of Cummins in a report on Thursday, February 7th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $163.19.

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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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