The stock of Cummins Inc. (NYSE:CMI) hit a new 52-week high and has $225.02 target or 69.00% above today’s $133.15 share price. The 8 months bullish chart indicates low risk for the $22.50 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $225.02 price target is reached, the company will be worth $15.53 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 924,224 shares traded hands. Cummins Inc. (NYSE:CMI) has risen 24.52% since April 7, 2016 and is uptrending. It has outperformed by 19.74% the S&P500.
Cummins Inc. (NYSE:CMI) Ratings Coverage
Out of 22 analysts covering Cummins (NYSE:CMI), 5 rate it a “Buy”, 4 “Sell”, while 13 “Hold”. This means 23% are positive. $162 is the highest target while $79 is the lowest. The $110.37 average target is -17.11% below today’s ($133.15) stock price. Cummins has been the topic of 49 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by Citigroup on Friday, May 13. The company was upgraded on Monday, August 24 by Standpoint Research. The firm has “Buy” rating given on Tuesday, October 11 by Goldman Sachs. William Blair downgraded it to “Market Perform” rating and $110 target price in Friday, September 25 report. BMO Capital Markets downgraded the stock to “Market Perform” rating in Tuesday, October 6 report. The rating was upgraded by Standpoint Research to “Buy” on Friday, August 21. The firm has “Sell” rating given on Wednesday, October 12 by Deutsche Bank. Argus Research maintained Cummins Inc. (NYSE:CMI) on Wednesday, October 28 with “Buy” rating. The stock of Cummins Inc. (NYSE:CMI) has “Sell” rating given on Wednesday, September 7 by Deutsche Bank. Citigroup downgraded the stock to “Neutral” rating in Monday, January 25 report.
According to Zacks Investment Research, “Cummins Inc. is one of the leading worldwide designers and manufacturers of diesel engines. The company also produces natural gas engines and engine components and subsystems. Cummins provides power and components for a wide variety of equipment in its key businesses: engine, power generation, and filtration.”
Insitutional Activity: The institutional sentiment decreased to 0.95 in Q2 2016. Its down 0.12, from 1.07 in 2016Q1. The ratio dropped, as 75 funds sold all Cummins Inc. shares owned while 250 reduced positions. 62 funds bought stakes while 246 increased positions. They now own 134.04 million shares or 12.52% less from 153.23 million shares in 2016Q1.
Blackrock Japan Limited has 209,352 shares for 0.08% of their US portfolio. The Michigan-based Comerica Commercial Bank has invested 0.05% in Cummins Inc. (NYSE:CMI). Employees Retirement Sys Of Texas reported 56,000 shares or 0.09% of all its holdings. Capital Guardian holds 0% of its portfolio in Cummins Inc. (NYSE:CMI) for 500 shares. Cannell Peter B Communications holds 0.03% of its portfolio in Cummins Inc. (NYSE:CMI) for 6,690 shares. Price T Rowe Assoc Incorporated Md reported 3.99 million shares or 0.1% of all its holdings. Dearborn Partners Ltd, a Illinois-based fund reported 1,872 shares. Moreover, Wharton Business Gp Ltd Company has 0.05% invested in Cummins Inc. (NYSE:CMI) for 3,459 shares. Goldman Sachs Group Inc reported 1.04M shares or 0.04% of all its holdings. Hotchkis & Wiley Cap Ltd Company, a California-based fund reported 5.82 million shares. Horan Cap Mgmt has 23,644 shares for 0.74% of their US portfolio. Whittier Trust accumulated 892 shares or 0% of the stock. Advisory Networks Limited Liability Company last reported 0.19% of its portfolio in the stock. Community Natl Bank Na has 12,124 shares for 0.32% of their US portfolio. Aberdeen Asset Management Public Ltd Uk has 0.04% invested in the company for 84,323 shares.
Insider Transactions: Since May 12, 2016, the stock had 0 insider buys, and 14 sales for $5.38 million net activity. Ward Pat sold $612,500 worth of Cummins Inc. (NYSE:CMI) on Wednesday, July 27. ROSE MARYA M sold 850 shares worth $98,446. The insider HUNT MARSHA L sold 5,910 shares worth $757,067. CHAPMAN STEVEN M also sold $375,000 worth of Cummins Inc. (NYSE:CMI) shares. Freeland Richard Joseph sold $312,500 worth of stock or 2,500 shares. $123,446 worth of Cummins Inc. (NYSE:CMI) was sold by HERMAN ALEXIS M. The insider Cook Jill E sold 5,980 shares worth $747,799.
Another recent and important Cummins Inc. (NYSE:CMI) news was published by Seekingalpha.com which published an article titled: “Cummins: Too Pricey” on November 07, 2016.
CMI Company Profile
Cummins Inc., incorporated on February 3, 1919, is a maker of diesel engines. The Firm designs, makes, 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. The Firm operates through four divisions: Engine, Distribution, Components and Power Generation. The Firm sells its products to original equipment manufacturers (OEMs), distributors and other clients across the world. The Firm serves its clients through a network of approximately 600 Company-owned and independent distributor locations and approximately 7,200 dealer locations in over 190 countries and territories. It has presence in the United States, China, India, South Korea, Mexico and Sweden.
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