Ffcm LLC boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 23.3% during the 4th quarter, Holdings Channel reports. The fund owned 9,423 shares of the company’s stock after purchasing an additional 1,782 shares during the period. Ffcm LLC’s holdings in Cummins were worth $1,664,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Boston Partners bought a new position in shares of Cummins during the third quarter valued at approximately $416,229,000. Old Mutual Global Investors UK Ltd. grew its stake in shares of Cummins by 203.7% during 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 during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Cummins by 96.4% during 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 during the last quarter. APG Asset Management N.V. grew its stake in shares of Cummins by 22.6% during 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 during the last quarter. Finally, Koch Industries Inc. bought a new position in shares of Cummins during the second quarter valued at approximately $318,000. 83.06% of the stock is currently owned by institutional investors.
Shares of Cummins Inc. (CMI) opened at $164.05 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $27,226.97, a P/E ratio of 15.43, a P/E/G ratio of 1.16 and a beta of 1.14. Cummins Inc. has a twelve month low of $143.83 and a twelve month high of $194.18.
CMI has been the topic of a number of analyst reports. Argus upped their target price on Cummins from $172.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Buckingham Research upped their target price on Cummins from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Bank of America raised Cummins from a “neutral” rating to a “buy” rating and set a $215.00 target price on the stock in a research note on Friday, January 19th. ValuEngine raised Cummins from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research raised Cummins from a “hold” rating to a “buy” rating and set a $193.00 target price on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $188.18.
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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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