First Citizens Bank & Trust Co Has Boosted Its Position in Cummins (CMI) by $941,220 as Shares Declined; Grimes & Company Lowered Its Stake in T. Rowe Price Group (TROW) as Stock Price Rose

June 20, 2018 - By Marie Mckinney

Cummins Inc. (NYSE:CMI) Logo

Robert Rodriguez increased its stake in Cummins Inc (CMI) by 457.84% based on its latest 2018Q1 regulatory filing with the SEC. First Citizens Bank & Trust Co bought 5,810 shares as the company’s stock declined 14.62% with the market. The hedge fund run by Robert Rodriguez held 7,079 shares of the industrial machinery and components company at the end of 2018Q1, valued at $1.15 million, up from 1,269 at the end of the previous reported quarter. First Citizens Bank & Trust Co who had been investing in Cummins Inc for a number of months, seems to be bullish on the $22.96B market cap company. The stock decreased 1.85% or $2.64 during the last trading session, reaching $139.77. About 1.57 million shares traded or 1.96% up from the average. Cummins Inc. (NYSE:CMI) has declined 5.98% since June 20, 2017 and is downtrending. It has underperformed by 18.55% the S&P500. Some Historical CMI News: 03/05/2018 – CUMMINS INC CMI.N : BOFA MERRILL CUTS PRICE OBJECTIVE TO $154 FROM $188; 14/05/2018 – Cummins Buys Navistar’s 50% Equity of Anhui Jianghuai Automobile Co.-Navistar Diesel Engine Co; 24/05/2018 – CUMMINS INDIA 4Q TOTAL COSTS 10.9B RUPEES; 10/05/2018 – Experienced Biotech Executive and Scientific Leader Dr. Stephen Harrison Joins Engine Biosciences as Chief Scientific Officer and Senior Vice President; 17/05/2018 – Eric Cummins Appointed as CFO of Deluxe; 01/05/2018 – CUMMINS SEES FY REV. +10% TO +14%; 24/05/2018 – CUMMINS INDIA 4Q REV. 12.1B RUPEES, EST. 13B; 17/04/2018 – MEDIA-GE’s Jenbacher is attracting interest from Cummins, CVC – Bloomberg; 01/05/2018 – CUMMINS 1Q ADJ EPS $2.43, EST. $2.93; 01/05/2018 – Cummins Raises Outlook for 2018

Grimes & Company Inc decreased its stake in T. Rowe Price Group (TROW) by 5.32% based on its latest 2018Q1 regulatory filing with the SEC. Grimes & Company Inc sold 4,815 shares as the company’s stock rose 6.33% while stock markets declined. The institutional investor held 85,613 shares of the finance company at the end of 2018Q1, valued at $9.24M, down from 90,428 at the end of the previous reported quarter. Grimes & Company Inc who had been investing in T. Rowe Price Group for a number of months, seems to be less bullish one the $29.77 billion market cap company. The stock decreased 0.63% or $0.78 during the last trading session, reaching $122.93. About 816,306 shares traded. T. Rowe Price Group, Inc. (NASDAQ:TROW) has risen 74.25% since June 20, 2017 and is uptrending. It has outperformed by 61.68% the S&P500. Some Historical TROW News: 30/05/2018 – T. Rowe Price To Close Tampa Operations Center In June 2019; Client Digital Preferences, Firm’s Technology Enhancements And Operational Efficiencies Lead To Site Consolidation; 30/05/2018 – T. Rowe Price: Remaining Locations Are in Owings Mills, Maryland, and Colorado Springs, Colorado; 23/04/2018 – T. Rowe Price Group Inc expected to post earnings of $1.71 a share – Earnings Preview; 05/03/2018 – Qualcomm Holder T. Rowe Price Said to Have Voted Broadcom Slate; 14/05/2018 – T Rowe Price Associates Buys New 3.4% Position in Achillion; 14/05/2018 – T Rowe Price Associates Buys New 2.6% Position in Zogenix; 25/04/2018 – T. ROWE 1Q ADJ EPS $1.74, EST. $1.68; 30/05/2018 – T. ROWE PRICE GROUP INC – EXPECTS THAT APPROXIMATELY 150 POSITIONS IN TAMPA OFFICE WILL NOT BE REPLACED; 03/05/2018 – T. ROWE PRICE HEAD OF FIXED INCOME TED WIESE TO STEP DOWN AT YEAR-END, RETIRE FROM FIRM NEXT MAY; VETERAN PORTFOLIO MANAGER ANDREW MCCORMICK TO TAKE OVER JANUARY 1, 2019; 27/03/2018 – T. ROWE’S LEVENSON: U.S. IS NOW LATE IN THE BUSINESS CYCLE

First Citizens Bank & Trust Co, which manages about $735.61 million US Long portfolio, decreased its stake in 3M Co (NYSE:MMM) by 4,952 shares to 20,958 shares, valued at $4.60 million in 2018Q1, according to the filing. It also reduced its holding in Dr Pepper Snapple Group Inc (NYSE:DPS) by 8,120 shares in the quarter, leaving it with 6,720 shares, and cut its stake in Tyson Foods Inc (NYSE:TSN).

Investors sentiment decreased to 0.9 in 2018 Q1. Its down 0.37, from 1.27 in 2017Q4. It fall, as 70 investors sold CMI shares while 284 reduced holdings. 71 funds opened positions while 246 raised stakes. 128.35 million shares or 2.63% less from 131.82 million shares in 2017Q4 were reported. Utah Retirement stated it has 29,199 shares. Kistler owns 2,786 shares or 0.19% of their US portfolio. Cullen Frost Bankers accumulated 21,469 shares. Agf Inc accumulated 12,602 shares. Webster Bank N A invested 0.37% of its portfolio in Cummins Inc. (NYSE:CMI). Envestnet Asset Mgmt invested in 40,921 shares or 0.02% of the stock. Manchester Cap Mgmt Ltd Liability Com stated it has 1,336 shares or 0.03% of all its holdings. Indexiq Advsr Llc owns 27,346 shares for 0.14% of their portfolio. 11,207 were accumulated by Sfe Investment Counsel. Art Advsr owns 62,600 shares. Evermay Wealth Mngmt Ltd Liability Co has invested 0.21% of its portfolio in Cummins Inc. (NYSE:CMI). Washington Tru State Bank, Washington-based fund reported 500 shares. Greenleaf holds 0% or 1,240 shares in its portfolio. Da Davidson Communications has 37,456 shares for 0.13% of their portfolio. Cornerstone Advsrs accumulated 9,000 shares or 0.17% of the stock.

Another recent and important Cummins Inc. (NYSE:CMI) news was published by Globenewswire.com which published an article titled: “Recent Analysis Shows Independent Bank, Teradyne, Cummins, Concho Resources, Ameren, and Aflac Market …” on June 11, 2018.

Among 30 analysts covering Cummins (NYSE:CMI), 8 have Buy rating, 2 Sell and 20 Hold. Therefore 27% are positive. Cummins had 117 analyst reports since July 22, 2015 according to SRatingsIntel. The stock of Cummins Inc. (NYSE:CMI) has “Neutral” rating given on Thursday, October 12 by Longbow. The firm has “Underweight” rating by Barclays Capital given on Wednesday, October 28. The rating was downgraded by UBS on Wednesday, May 2 to “Sell”. Wells Fargo maintained the shares of CMI in report on Friday, October 6 with “Market Perform” rating. As per Friday, May 13, the company rating was maintained by Citigroup. The stock has “Hold” rating by Jefferies on Thursday, September 1. The firm has “Outperform” rating given on Wednesday, February 7 by Credit Suisse. The rating was maintained by Stifel Nicolaus on Monday, February 5 with “Hold”. The stock has “Hold” rating by Bank of America on Thursday, May 3. Standpoint Research upgraded Cummins Inc. (NYSE:CMI) on Monday, August 24 to “Buy” rating.

Grimes & Company Inc, which manages about $1.63 billion and $1.03B US Long portfolio, upped its stake in Apple Computer Inc. (NASDAQ:AAPL) by 13,380 shares to 126,237 shares, valued at $21.18M in 2018Q1, according to the filing. It also increased its holding in Dowdupont Inc by 5,401 shares in the quarter, for a total of 15,364 shares, and has risen its stake in 3M Company (NYSE:MMM).

Analysts await T. Rowe Price Group, Inc. (NASDAQ:TROW) to report earnings on July, 24. They expect $1.73 EPS, up 35.16% or $0.45 from last year’s $1.28 per share. TROW’s profit will be $418.90M for 17.76 P/E if the $1.73 EPS becomes a reality. After $1.74 actual EPS reported by T. Rowe Price Group, Inc. for the previous quarter, Wall Street now forecasts -0.57% negative EPS growth.

Since January 2, 2018, it had 0 insider buys, and 5 sales for $13.59 million activity. On Wednesday, May 30 the insider MacLellan Robert F. sold $612,898. $4.55 million worth of T. Rowe Price Group, Inc. (NASDAQ:TROW) was sold by Robert W. Sharps. 8,066 shares were sold by MORELAND KENNETH V, worth $839,833 on Tuesday, January 2. $2.64 million worth of stock was sold by Stromberg William J on Tuesday, June 12.

Investors sentiment decreased to 0.7 in 2018 Q1. Its down 0.30, from 1 in 2017Q4. It is negative, as 43 investors sold TROW shares while 289 reduced holdings. 65 funds opened positions while 169 raised stakes. 169.45 million shares or 0.77% less from 170.77 million shares in 2017Q4 were reported. Harding Loevner Lp has 0% invested in T. Rowe Price Group, Inc. (NASDAQ:TROW). Bruni J V And Communications Communications holds 0.6% or 32,105 shares in its portfolio. The Ontario – Canada-based Cibc Asset Inc has invested 0.01% in T. Rowe Price Group, Inc. (NASDAQ:TROW). 2,769 are owned by Tru Of Toledo Na Oh. Sandy Spring Savings Bank invested 0.2% in T. Rowe Price Group, Inc. (NASDAQ:TROW). Zevin Asset Management Lc holds 1,972 shares or 0.06% of its portfolio. City Com holds 1,062 shares or 0.04% of its portfolio. Department Mb Bancshares N A, Illinois-based fund reported 76 shares. Northern Tru has 2.93 million shares for 0.08% of their portfolio. Cardinal Capital Mgmt owns 46,495 shares. Millennium Mgmt Limited Liability Co, a New York-based fund reported 65,454 shares. Carnegie Cap Asset Mngmt Ltd Company has invested 0.64% in T. Rowe Price Group, Inc. (NASDAQ:TROW). Lenox Wealth owns 322 shares. Cs Mckee Ltd Partnership holds 1.94% or 229,210 shares in its portfolio. Denver Advisors Limited Liability Company has invested 0.6% in T. Rowe Price Group, Inc. (NASDAQ:TROW).

More recent T. Rowe Price Group, Inc. (NASDAQ:TROW) news were published by: Seekingalpha.com which released: “T. Rowe Price Dividend Stock Analysis” on May 26, 2018. Also Seekingalpha.com published the news titled: “Venture Capital Deals Of The Week: Ant Financial Gets $14B Ahead Of IPO” on June 09, 2018. Nasdaq.com‘s news article titled: “Analysis: Positioning to Benefit within Vector Group, The Goldman Sachs Group, LivaNova, IRSA Inversiones Y …” with publication date: June 15, 2018 was also an interesting one.

T. Rowe Price Group, Inc. (NASDAQ:TROW) Institutional Positions Chart

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