Q2 2018 Sentiment Cummins Inc (NYSE:CMI)

September 30, 2018 - By Palma Niemeyer

Cummins Inc. (NYSE:CMI) Logo

Sentiment for Cummins Inc (NYSE:CMI)

Cummins Inc (NYSE:CMI) institutional sentiment increased to 0.91 in 2018 Q2. Its up 0.01, from 0.9 in 2018Q1. The ratio improved, as 306 hedge funds increased and started new holdings, while 338 sold and reduced holdings in Cummins Inc. The hedge funds in our partner’s database now own: 125.38 million shares, down from 128.35 million shares in 2018Q1. Also, the number of hedge funds holding Cummins Inc in their top 10 holdings decreased from 6 to 1 for a decrease of 5. Sold All: 81 Reduced: 257 Increased: 232 New Position: 74.

Cummins Inc., together with its subsidiaries, designs, makes, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. The company has market cap of $23.78 billion. It operates through Engine, Distribution, Components, and Power Systems divisions. It has a 23.09 P/E ratio. The Engine segment makes and markets a range of diesel and natural gas powered engines under the Cummins and other customer brand names for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, gas and oil, defense, and agricultural markets.

The stock decreased 0.76% or $1.12 during the last trading session, reaching $146.07. About 1.88M shares traded or 37.94% up from the average. Cummins Inc. (NYSE:CMI) has declined 14.16% since September 30, 2017 and is downtrending. It has underperformed by 29.78% the S&P500.

Analysts await Cummins Inc. (NYSE:CMI) to report earnings on October, 30. They expect $3.70 EPS, up 36.53 % or $0.99 from last year’s $2.71 per share. CMI’s profit will be $602.41M for 9.87 P/E if the $3.70 EPS becomes a reality. After $4.14 actual EPS reported by Cummins Inc. for the previous quarter, Wall Street now forecasts -10.63 % negative EPS growth.

Cincinnati Casualty Co holds 5.47% of its portfolio in Cummins Inc. for 46,000 shares. Marshfield Associates owns 541,276 shares or 4.79% of their US portfolio. Moreover, Raub Brock Capital Management Lp has 3.49% invested in the company for 111,261 shares. The Rhode Island-based Weybosset Research & Management Llc has invested 3.13% in the stock. Pring Turner Capital Group Inc, a California-based fund reported 18,905 shares.

Cummins Inc. (NYSE:CMI) Ratings Coverage

Ratings analysis reveals 29% of Cummins’s analysts are positive. Out of 14 Wall Street analysts rating Cummins, 4 give it “Buy”, 2 “Sell” rating, while 8 recommend “Hold”. The lowest target is $137 while the high is $192. The stock’s average target of $166.42 is 13.93% above today’s ($146.07) share price. CMI was included in 22 notes of analysts from April 5, 2018. The rating was downgraded by Wells Fargo to “Market Perform” on Wednesday, May 2. The company was maintained on Wednesday, August 1 by Credit Suisse. BMO Capital Markets maintained the shares of CMI in report on Thursday, May 3 with “Market Perform” rating. BMO Capital Markets maintained it with “Hold” rating and $18000 target in Tuesday, April 17 report. The rating was maintained by JP Morgan on Tuesday, April 10 with “Neutral”. Stifel Nicolaus maintained the shares of CMI in report on Monday, September 10 with “Buy” rating. As per Wednesday, August 1, the company rating was maintained by Stifel Nicolaus. The rating was downgraded by Bank of America on Thursday, May 3 to “Hold”. The firm has “Equal-Weight” rating given on Monday, May 7 by Morgan Stanley. As per Wednesday, May 2, the company rating was maintained by Credit Suisse.

More recent Cummins Inc. (NYSE:CMI) news were published by: Seekingalpha.com which released: “Cummins to partner with KAMAZ” on September 20, 2018. Also Investorplace.com published the news titled: “5 Dividend Stocks to Buy for Growth as the Fed Raises Rates” on September 27, 2018. Seekingalpha.com‘s news article titled: “Cummins’ power plans after Hurricane Florence” with publication date: September 17, 2018 was also an interesting one.

Cummins Inc. (NYSE:CMI) Institutional Positions Chart

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