Tokio Marine Asset Management Co. Ltd. Buys 178 Shares of Cummins Inc. (NYSE:CMI)

Tokio Marine Asset Management Co. Ltd. boosted its stake in Cummins Inc. (NYSE:CMI) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,216 shares of the company’s stock after purchasing an additional 178 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Cummins were worth $1,470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Cummins by 2.1% in the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after acquiring an additional 126,703 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after acquiring an additional 165,398 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Cummins by 31,489.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after acquiring an additional 2,523,854 shares in the last quarter. FMR LLC increased its holdings in shares of Cummins by 0.8% in the third quarter. FMR LLC now owns 1,175,096 shares of the company’s stock worth $380,484,000 after acquiring an additional 9,245 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Cummins by 38,765.8% in the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after acquiring an additional 972,247 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cummins has an average rating of “Moderate Buy” and a consensus target price of $374.25.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 6,490 shares of company stock worth $2,357,880 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Cummins Price Performance

Shares of NYSE CMI opened at $348.16 on Tuesday. The firm has a market cap of $47.76 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cummins Inc. has a 1-year low of $236.00 and a 1-year high of $387.90. The business’s 50 day moving average is $362.75 and its 200-day moving average is $333.86.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the company earned $4.73 EPS. The company’s revenue was up .3% on a year-over-year basis. Equities research analysts predict that Cummins Inc. will post 20.62 earnings per share for the current year.

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.