Claraphi Advisory Network LLC Purchases Shares of 2,709 Cummins Inc. (CMI)

Claraphi Advisory Network LLC purchased a new position in shares of Cummins Inc. (NYSE:CMI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,709 shares of the company’s stock, valued at approximately $479,000.

Several other hedge funds have also modified their holdings of the company. Advisory Services Network LLC increased its position in shares of Cummins by 0.3% during the second quarter. Advisory Services Network LLC now owns 15,459 shares of the company’s stock worth $2,508,000 after purchasing an additional 51 shares in the last quarter. Security National Bank of SO Dak grew its holdings in shares of Cummins by 1.9% during the second quarter. Security National Bank of SO Dak now owns 4,856 shares of the company’s stock valued at $788,000 after buying an additional 90 shares during the last quarter. Security National Bank of Sioux City Iowa IA grew its holdings in shares of Cummins by 1.7% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 5,639 shares of the company’s stock valued at $915,000 after buying an additional 95 shares during the last quarter. Advisor Partners LLC grew its holdings in shares of Cummins by 8.1% during the fourth quarter. Advisor Partners LLC now owns 3,596 shares of the company’s stock valued at $680,000 after buying an additional 269 shares during the last quarter. Finally, Kessler Investment Group LLC grew its holdings in shares of Cummins by 1.8% during the fourth quarter. Kessler Investment Group LLC now owns 18,785 shares of the company’s stock valued at $3,318,000 after buying an additional 329 shares during the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cummins Inc. (NYSE:CMI) opened at $179.01 on Tuesday. Cummins Inc. has a 1-year low of $143.83 and a 1-year high of $194.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03. The company has a market cap of $30,589.47, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14.

A number of brokerages have recently weighed in on CMI. Stifel Nicolaus reissued a “hold” rating and set a $182.00 price objective on shares of Cummins in a report on Monday. Citigroup boosted their price objective on shares of Cummins from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Monday. Oppenheimer began coverage on shares of Cummins in a report on Thursday, December 7th. They set an “outperform” rating and a $192.00 price objective on the stock. Robert W. Baird reissued a “sell” rating and set a $155.00 price objective on shares of Cummins in a report on Wednesday, November 1st. Finally, Barclays began coverage on shares of Cummins in a report on Tuesday, December 12th. They set an “equal weight” rating and a $180.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $183.41.

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About Cummins

Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures 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 (RV), light-duty automotive and agricultural markets.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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