CMI has been the topic of several other reports. Bank of America upgraded Cummins from a neutral rating to a buy rating and set a $215.00 target price on the stock in a research report on Friday, January 19th. BMO Capital Markets increased their target price on Cummins from $185.00 to $190.00 and gave the stock a market perform rating in a research report on Wednesday, November 8th. Argus increased their target price on Cummins from $172.00 to $195.00 and gave the stock a buy rating in a research report on Monday, November 6th. Jefferies Group increased their target price on Cummins from $165.00 to $180.00 and gave the stock a hold rating in a research report on Wednesday, November 1st. Finally, Piper Jaffray Companies set a $170.00 target price on Cummins and gave the stock a hold rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. Cummins presently has a consensus rating of Hold and a consensus price target of $185.96.
Shares of Cummins (NYSE:CMI) traded down $1.84 during trading hours on Tuesday, hitting $170.90. The stock had a trading volume of 260,302 shares, compared to its average volume of 1,388,609. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03. Cummins has a twelve month low of $143.83 and a twelve month high of $194.18. The stock has a market capitalization of $28,480.00, a P/E ratio of 28.84, a P/E/G ratio of 1.19 and a beta of 1.14.
A number of large investors have recently made changes to their positions in the business. Boston Partners acquired a new stake in shares of Cummins in the third quarter valued at about $416,229,000. Old Mutual Global Investors UK Ltd. grew its stake in shares of Cummins by 203.7% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 926,242 shares of the company’s stock valued at $155,636,000 after buying an additional 621,292 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Cummins by 96.4% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 860,614 shares of the company’s stock valued at $152,019,000 after buying an additional 422,411 shares in the last quarter. APG Asset Management N.V. grew its stake in shares of Cummins by 22.6% in the third quarter. APG Asset Management N.V. now owns 1,960,772 shares of the company’s stock valued at $329,469,000 after buying an additional 361,800 shares in the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of Cummins in the second quarter valued at about $318,000. Institutional investors own 82.46% of the company’s stock.
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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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