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Cummins Inc. reported strong earnings, but its stock fell as institutional ownership shifted.
Cummins Inc., a major manufacturer of engines and powertrains, reported strong earnings of $5.16 per share, beating estimates by $0.46.
Despite this, its stock price fell due to market fluctuations.
The company has seen changes in institutional ownership, with Integras Partners LLC buying shares and other firms like Wintrust and Aurora reducing their holdings.
Analysts predict a strong financial year ahead for Cummins, with a projected EPS of 22.54.
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Cummins Inc. reportó fuertes ganancias, pero sus acciones cayeron a medida que la propiedad institucional cambiaba.