Alpine Woods Capital Investors LLC Has $4.95 Million Stock Holdings in Cummins Inc. $CMI

Alpine Woods Capital Investors LLC lifted its stake in Cummins Inc. (NYSE:CMI) by 21.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,103 shares of the company’s stock after acquiring an additional 2,629 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Cummins were worth $4,946,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. boosted its stake in Cummins by 152.3% during the first quarter. Raymond James Financial Inc. now owns 1,354,052 shares of the company’s stock worth $424,414,000 after buying an additional 817,384 shares in the last quarter. AQR Capital Management LLC boosted its stake in Cummins by 70.9% during the first quarter. AQR Capital Management LLC now owns 1,022,373 shares of the company’s stock worth $314,942,000 after buying an additional 424,294 shares in the last quarter. Nuveen LLC acquired a new stake in Cummins during the first quarter worth $109,120,000. Vanguard Group Inc. boosted its stake in Cummins by 1.9% during the first quarter. Vanguard Group Inc. now owns 17,283,469 shares of the company’s stock worth $5,417,331,000 after buying an additional 321,823 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Cummins by 74.2% during the first quarter. Goldman Sachs Group Inc. now owns 749,449 shares of the company’s stock worth $234,907,000 after buying an additional 319,277 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Down 0.9%

Shares of NYSE CMI opened at $409.17 on Tuesday. The business has a fifty day moving average of $408.16 and a two-hundred day moving average of $350.37. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.03 and a current ratio of 1.64. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $440.51. The stock has a market cap of $56.38 billion, a PE ratio of 19.24, a PEG ratio of 1.99 and a beta of 1.04.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, August 5th. The company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.21 by $1.22. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The business had revenue of $8.64 billion during the quarter, compared to analysts’ expectations of $8.45 billion. During the same period in the previous year, the business posted $5.26 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, equities research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Barclays lifted their price target on shares of Cummins from $381.00 to $387.00 and gave the stock an “equal weight” rating in a research note on Monday, July 21st. Melius Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a research note on Wednesday, September 3rd. Melius upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a research note on Wednesday, September 3rd. Robert W. Baird lifted their price objective on Cummins from $315.00 to $355.00 and gave the company a “neutral” rating in a report on Friday, July 11th. Finally, Zacks Research raised Cummins from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cummins presently has an average rating of “Moderate Buy” and a consensus target price of $397.43.

Insiders Place Their Bets

In related news, Director Karen H. Quintos sold 1,307 shares of Cummins stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $405.33, for a total value of $529,766.31. Following the completion of the transaction, the director directly owned 5,227 shares of the company’s stock, valued at $2,118,659.91. The trade was a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Luther E. Peters sold 4,850 shares of Cummins stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $389.19, for a total value of $1,887,571.50. Following the completion of the transaction, the vice president directly owned 7,693 shares of the company’s stock, valued at $2,994,038.67. This represents a 38.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,119 shares of company stock valued at $17,674,285 over the last three months. Company insiders own 0.41% of the company’s stock.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers 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; and offers parts and services, as well as remanufactured parts and engines.