Goldman Sachs issues a rating downgrade for Cummins (NYSE: CMI) of a Buy to Neutral rating – tech2.org

Goldman Sachs issues a rating downgrade for Cummins (NYSE: CMI) of a Buy to Neutral rating



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December 2, 2017 – By Vivian Park

   Goldman Sachs Issues a Downgrade for Cummins (NYSE: CMI) from a Buy to Neutral Rating

Investor sentiment increased to 1.01 in Q2 of 2017. It is an increase of 0.09, from 0.92 in 2017Q1. It increased, as 49 investors sold shares of Cummins Inc. while 269 shares declined. 90 funds opened positions, while 231 increased. 130.61 million shares or 1.43% more than 128.77 million shares in 2017Q1 were reported.

1St Source Bancshares reported 6,819 shares. In addition, Department Mb Bancorporation N A has 0.01% invested in Cummins Inc. (NYSE: CMI). Excalibur Mngmt Corporation owns 2,150 shares or 0.31% of its portfolio. Bnp Paribas Arbitrage Sa owns 0.07% invested in Cummins Inc. (NYSE: CMI) for 146,458 shares. Milestone Grp Inc holds 0.03% or 1.257 shares. Da Davidson and reported a 0.1% share. State Street invested 0.17% of its portfolio in Cummins Inc. (NYSE: CMI). First In has invested 0.04% in Cummins Inc. (NYSE: CMI). Mitsubishi Ufj Securities Hldgs Limited has invested 0.09% in Cummins Inc. (NYSE: CMI). Hotchkis Wiley Management Lc owns 2.32% or 3.57 million shares. Nomura Holding Inc declared that it owns 55,287 shares. Braun Stacey Assocs owns 136,886 shares or 1.44% of its portfolio. In addition, Ameritas Investment Prtnrs has 0.04% invested in Cummins Inc. (NYSE: CMI). Omers Administration invested in 9,100 shares or 0.02% of the shares. Geode Capital Management Llc, a fund based in Mbadachusetts, reported 1.98 million shares.

As of June 19, 2017, it had 0 insider trading and 1 insider trading for $ 2.30 million of activity.

Cummins (NYSE: CMI) receives an earlier version

The previous rating of Cummins (NYSE: CMI) the shares of a purchase have been discontinued, as Goldman Sachs badysts decreased the Current rating of Cummins (NYSE: CMI) participates in a Neutral.

Investor confidence increased to 1.01 in 2Q 2017. It rose 0.09, from 0.92 in 2017Q1. It increased, as 49 investors sold shares of Cummins Inc. while 269 shares declined. 90 funds opened positions, while 231 increased. 130.61 million shares or 1.43% more than 128.77 million shares in 2017Q1 were reported.

1St Source Bancshares reported 6,819 participation shares. In addition, Department Mb Bancorporation N A has 0.01% invested in Cummins Inc. (NYSE: CMI). Excalibur Mngmt Corporation owns 2,150 shares or 0.31% of its portfolio. Bnp Paribas Arbitrage Sa owns 0.07% invested in Cummins Inc. (NYSE: CMI) for 146,458 shares. Milestone Grp Inc holds 0.03% or 1.257 shares. Da Davidson and reported a 0.1% share. State Street invested 0.17% of its portfolio in Cummins Inc. (NYSE: CMI). First In has invested 0.04% in Cummins Inc. (NYSE: CMI). Mitsubishi Ufj Securities Hldgs Limited has invested 0.09% in Cummins Inc. (NYSE: CMI). Hotchkis Wiley Management Lc owns 2.32% or 3.57 million shares. Nomura Holding Inc declared that it owns 55,287 shares. Braun Stacey Assocs owns 136,886 shares or 1.44% of its portfolio. In addition, Ameritas Investment Prtnrs has 0.04% invested in Cummins Inc. (NYSE: CMI). Omers Administration invested in 9,100 shares or 0.02% of the shares. Geode Capital Management Llc, a fund based in Mbadachusetts, reported 1.98 million shares.

As of June 19, 2017, it had 0 insider trading and 1 insider trading for $ 2.30 million of activity.

Cummins Inc. (NYSE: CMI)

Ratings Coverage Among the 27 badysts covering Cummins (NYSE: CMI), 6 are Buy, 3 Sell and 18 Hold. Therefore, 22% are positive. Cummins has $ 20,000 higher and $ 79 goal lower. The average goal of $ 149.09 is -9.65% below the current $ 165.01 share price. Cummins had 88 badyst reports from July 22, 2015 according to SRatingsIntel. The firm has a "Hold" rating awarded by Jefferies on Thursday, September 1. The firm has a "Neutral" rating awarded on Thursday, October 12 by Longbow. Macquarie Research held Cummins Inc. (NYSE: CMI) on Friday, February 5 with a "Best Performance" rating. The company was demoted on Friday, December 1 by Goldman Sachs. The stock of Cummins Inc. (NYSE: CMI) was rated "Market Perform" by BMO Capital Markets on Tuesday, October 6. The action of Cummins Inc. (NYSE: CMI) obtained "Neutral" rating from UBS on Tuesday, October 20 Stifel Nicolaus kept the stock with "Hold" rating in the report on Wednesday, October 18. Wells Fargo maintained it with the "Market Perform" rating and with a goal of $ 190 on Friday, October 6. Jefferies held the CMI shares in the report on Wednesday, November 1, with a "Hold" rating. The firm has a "Sell" rating granted on Wednesday, September 7 by Deutsche Bank.

The stock declined 1.43% or $ 2.39 during the last trading session, reaching $ 165.01. Around 1.91 million shares traded or 48.55% more than the average. Cummins Inc. (NYSE: CMI) has risen 43.32% since December 2, 2016 and is trending upward. It has exceeded the S & P500 by 26.62%.

Analysts expect Cummins Inc. (NYSE: CMI) to report earnings on February 8. They expect $ 2.60 EPS, up to 15.56% or $ 0.35 from the $ 2.25 last year per share. The CMI gain will be $ 431.53M for 15.87 P / E if the EPS of $ 2.60 becomes reality. After $ 2.71 real EPS reported by Cummins Inc. for the previous quarter, Wall Street now forecasts -4.06% negative EPS growth.

Cummins Inc., together with its subsidiaries, designs, manufactures, distributes and services diesel and natural gas engines, and engine-related component products throughout the world. The company has a market capitalization of $ 27.39 billion. Operates through divisions of motor, distribution, components and power systems. It has a P / E ratio of 18.65. The engine segment manufactures and markets a range of diesel and natural gas engines under Cummins and other customer brands for heavy and medium vehicles, buses, recreational vehicles, light automobiles, construction, mining, marine, rail, gas and oil , defense and agricultural markets.

The most notable news of Cummins Inc. (NYSE: CMI) was published by: Seekingalpha.com, which launched: "Shareholders at risk of Cummins" on November 27, 2017, also Seekingalpha .com with its article: "Cummins -4% in consequence of the launch of a Tesla truck" published on November 17, 2017, Ibj.com published: "China is giving Cummins a big boost, but will it last?" on December 2, 2017. More interesting news about Cummins Inc. (NYSE: CMI) was released by: Nasdaq.com and its article: "Cummins Inc. (CMI) Ex-Dividend Scheduled Date for November 16, 2017" published on November 15, 2017 as well as Globenewswire.com news article titled: "Cummins Westport announces changes to its Board of Directors and Management Team" with publication date: December 1, 2017.

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