Tealwood Asset Management Inc. Sells 140 Shares of Cummins Inc. (NYSE:CMI)

Tealwood Asset Management Inc. decreased its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,792 shares of the company’s stock after selling 140 shares during the period. Cummins accounts for about 1.2% of Tealwood Asset Management Inc.’s holdings, making the stock its 13th largest holding. Tealwood Asset Management Inc.’s holdings in Cummins were worth $2,847,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Cummins by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company’s stock worth $2,342,001,000 after acquiring an additional 604,735 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Cummins by 4.1% during the 4th quarter. Fisher Asset Management LLC now owns 2,587,895 shares of the company’s stock worth $619,982,000 after acquiring an additional 103,018 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Cummins by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company’s stock worth $469,869,000 after buying an additional 26,977 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Cummins by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock worth $468,503,000 after buying an additional 31,190 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of Cummins by 4.8% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,398,061 shares of the company’s stock worth $334,933,000 after buying an additional 64,365 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on CMI shares. Evercore ISI upped their price target on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. upped their price target on Cummins from $275.00 to $285.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Barclays upped their price target on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Citigroup started coverage on Cummins in a research note on Wednesday, June 26th. They issued a “buy” rating and a $320.00 price target on the stock. Finally, Robert W. Baird upped their price target on Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Cummins presently has an average rating of “Hold” and an average price target of $299.55.

Cummins Stock Performance

Shares of CMI stock traded down $4.01 on Tuesday, reaching $327.70. The stock had a trading volume of 132,286 shares, compared to its average volume of 1,601,472. The stock has a market cap of $44.82 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 1.81 and a beta of 0.98. Cummins Inc. has a 1 year low of $212.80 and a 1 year high of $333.48. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.82 and a current ratio of 1.34. The company has a 50 day simple moving average of $304.44 and a 200 day simple moving average of $291.98.

Cummins (NYSE:CMI) last released its quarterly earnings results on Thursday, August 1st. The company reported $5.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.85 by $0.41. The firm had revenue of $8.80 billion for the quarter, compared to the consensus estimate of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the business posted $5.18 EPS. Equities research analysts expect that Cummins Inc. will post 19.77 EPS for the current year.

Insider Transactions at Cummins

In other news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total value of $7,474,820.00. Following the transaction, the senior vice president now directly owns 77,442 shares in the company, valued at $23,870,722.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, VP Sharon R. Barner sold 4,780 shares of Cummins stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the transaction, the vice president now directly owns 20,873 shares in the company, valued at approximately $6,269,205.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the transaction, the senior vice president now owns 77,442 shares in the company, valued at $23,870,722.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.56% 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.