Cummins Inc. (CMI) Stake Boosted by M&T Bank Corp

M&T Bank Corp lifted its holdings in Cummins Inc. (NYSE:CMI) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 210,846 shares of the company’s stock after purchasing an additional 15,639 shares during the period. M&T Bank Corp’s holdings in Cummins were worth $37,244,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Boston Partners increased its stake in shares of Cummins by 33.1% in the fourth quarter. Boston Partners now owns 3,296,825 shares of the company’s stock worth $582,351,000 after purchasing an additional 819,719 shares during the period. APG Asset Management N.V. increased its stake in shares of Cummins by 5.4% in the fourth quarter. APG Asset Management N.V. now owns 2,065,872 shares of the company’s stock worth $303,894,000 after purchasing an additional 105,100 shares during the period. First Eagle Investment Management LLC increased its stake in shares of Cummins by 2.0% in the third quarter. First Eagle Investment Management LLC now owns 1,997,863 shares of the company’s stock worth $335,701,000 after purchasing an additional 39,674 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Cummins by 0.6% in the third quarter. Ameriprise Financial Inc. now owns 1,980,849 shares of the company’s stock worth $332,843,000 after purchasing an additional 11,714 shares during the period. Finally, Investec Asset Management LTD increased its stake in shares of Cummins by 14.7% in the third quarter. Investec Asset Management LTD now owns 1,939,429 shares of the company’s stock worth $325,882,000 after purchasing an additional 249,170 shares during the period. Institutional investors and hedge funds own 82.46% of the company’s stock.

Shares of Cummins Inc. (NYSE CMI) opened at $164.05 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.57. The firm has a market capitalization of $26,950.00, a PE ratio of 27.62, a P/E/G ratio of 1.18 and a beta of 1.14. Cummins Inc. has a 1 year low of $143.83 and a 1 year high of $194.18.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 6th. The company reported $3.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.38. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.23 billion. Cummins had a return on equity of 22.18% and a net margin of 4.89%. The company’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.25 earnings per share. analysts anticipate that Cummins Inc. will post 12.29 EPS for the current year.

A number of equities analysts have recently commented on the company. Citigroup lifted their price objective on Cummins from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Robert W. Baird lifted their price objective on Cummins from $157.00 to $159.00 and gave the stock an “underperform” rating in a research note on Wednesday. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $193.00 price objective on the stock in a research note on Friday. Oppenheimer assumed coverage on Cummins in a research note on Thursday, December 7th. They issued an “outperform” rating and a $192.00 price objective on the stock. Finally, Deutsche Bank set a $169.00 price objective on Cummins and gave the stock a “sell” rating in a research note on Monday, February 5th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $188.18.

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Cummins Company Profile

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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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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