Is Buying Cummins Inc. (CMI) Here a Winning Strategy?

July 17, 2017 - By Clifton Ray

Investors sentiment decreased to 1.06 in Q4 2016. Its down 0.01, from 1.07 in 2016Q3. It dropped, as 44 investors sold Cummins Inc. shares while 270 reduced holdings. 92 funds opened positions while 242 raised stakes. 129.92 million shares or 0.10% less from 130.04 million shares in 2016Q3 were reported.
Zurcher Kantonalbank (Zurich Cantonalbank) stated it has 36,118 shares or 0.05% of all its holdings. Kopp Advsr Llc invested 0.89% of its portfolio in Cummins Inc. (NYSE:CMI). Gemmer Asset Mgmt Ltd Liability invested 0.01% in Cummins Inc. (NYSE:CMI). Scotia Incorporated reported 0.02% stake. Marshall Wace Limited Liability Partnership stated it has 0.01% of its portfolio in Cummins Inc. (NYSE:CMI). 5,062 were accumulated by Profund Advsrs Limited Liability Corporation. Adell Harriman & Carpenter Inc holds 0% or 10,406 shares. Hartford Investment Mgmt Company has invested 0.1% in Cummins Inc. (NYSE:CMI). Sun Life Finance accumulated 225 shares or 0% of the stock. Alethea Capital Management Llc owns 3,500 shares. 5,702 were accumulated by Meiji Yasuda Asset Mngmt Ltd. New York-based Metropolitan Life Insur Company has invested 0.08% in Cummins Inc. (NYSE:CMI). Tru Department Mb Savings Bank N A, Illinois-based fund reported 324 shares. Comerica Financial Bank reported 50,959 shares. 126,924 are owned by Adage Capital Prns Grp Inc Lc.

Since April 28, 2017, it had 0 buys, and 7 sales for $8.52 million activity. $206,911 worth of Cummins Inc. (NYSE:CMI) shares were sold by HERMAN ALEXIS M. The insider CHAPMAN STEVEN M sold 6,540 shares worth $1.07 million. Ward Pat sold 14,050 shares worth $2.30M. Talaulicar Anant sold $259,878 worth of stock. 1,086 Cummins Inc. (NYSE:CMI) shares with value of $169,527 were sold by NELSON GEORGIA R. Satterthwaite Tony sold $604,139 worth of Cummins Inc. (NYSE:CMI) on Friday, April 28. $3.91 million worth of stock was sold by LINEBARGER NORMAN THOMAS on Tuesday, May 2.

The stock of Cummins Inc. (NYSE:CMI) reached all time high today, Jul, 17 and still has $176.54 target or 6.00 % above today’s $166.55 share price. This indicates more upside for the $28.09 billion company. This technical setup was reported by Barchart.com. If the $176.54 PT is reached, the company will be worth $1.69 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

About 782,033 shares traded. Cummins Inc. (NYSE:CMI) has risen 43.32% since July 17, 2016 and is uptrending. It has outperformed by 26.62% the S&P500.

Analysts await Cummins Inc. (NYSE:CMI) to report earnings on August, 1. They expect $2.30 earnings per share, down 4.17 % or $0.10 from last year’s $2.4 per share. CMI’s profit will be $387.94M for 18.10 P/E if the $2.30 EPS becomes a reality. After $2.36 actual earnings per share reported by Cummins Inc. for the previous quarter, Wall Street now forecasts -2.54 % negative EPS growth.

Cummins Inc. (NYSE:CMI) Ratings Coverage

Among 24 analysts covering Cummins (NYSE:CMI), 5 have Buy rating, 3 Sell and 16 Hold. Therefore 21% are positive. Cummins had 63 analyst reports since July 22, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Monday, November 7 by Evercore. The firm earned “Hold” rating on Thursday, December 17 by Deutsche Bank. The rating was maintained by Stifel Nicolaus with “Hold” on Thursday, April 13. The rating was maintained by Barclays Capital on Wednesday, October 12 with “Underweight”. Macquarie Research downgraded Cummins Inc. (NYSE:CMI) on Monday, April 11 to “Neutral” rating. The stock has “Neutral” rating by Citigroup on Monday, January 25. William Blair downgraded the stock to “Market Perform” rating in Friday, September 25 report. Piper Jaffray maintained it with “Overweight” rating and $132 target in Thursday, April 21 report. The company was upgraded on Tuesday, October 11 by Goldman Sachs. The company was downgraded on Tuesday, October 20 by UBS.

More news for Cummins Inc. (NYSE:CMI) were recently published by: Indystar.com, which released: “Briggs: Cummins has a $50M answer to questions about its future in Columbus” on July 07, 2017. Nasdaq.com‘s article titled: “September 1st Options Now Available For Cummins (CMI)” and published on July 13, 2017 is yet another important article.

Cummins Inc. designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The company has market cap of $28.09 billion. The Company’s divisions include Engine, Distribution, Components and Power Systems. It has a 19.09 P/E ratio. The Engine segment makes and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle , light-duty automotive and agricultural markets.

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