Cummins Inc (NYSE:CMI).
Raymond James & Associates says it raised its ownership in Cummins Inc by 58,790 shares in the quarter ending 09/30/2017. Its position was valued at $34,679,000 an increase of $10,736,000 as of the end of the quarter.
These firms have modified their investment in CMI. Tredje Ap-fonden expanded its stake by buying 1,040 shares an increase of 6.6% from 06/30/2017 to 09/30/2017. Tredje Ap-fonden currently owns 16,876 shares worth $2,836,000. The value of the position overall is up by 10.4%. Baird Financial Group, Inc. bolstered its investment by buying 420 shares an increase of 1.5% as of 09/30/2017. Baird Financial Group, Inc. now controls 27,759 shares with a value of $4,664,000. The total value of its holdings increased 5.2%.
As of quarter end Bowen Hanes & Co Inc had acquired 780 shares growing its holdings by 0.5%. The value of the investment in (CMI) went from $25,756,000 to $26,809,000 a change of 4.1% since the last quarter.
Equity analyst Buckingham Research raised the price target of the stock on November 1 boosting the projection from $180.00 to $195.00 with a “Buy” recommendation. Jefferies Group LLC raised the price target on November 1 changing the price objective from $165.00 to $180.00 and stated a “Hold” rating.
November 1 investment analysts at Stifel Nicolaus left the stock rating at “Hold” with a current price target of $190.00. Royal Bank Of Canada raised the price target on November 2 changing the forecast from $169.00 to $173.00 with a rating of “Sector Perform”.
Argus raised the price target on November 6 changing the price objective from $0.00 to $195.00 and issued a “Buy” recommendation. Equity analyst BMO Capital Markets raised the price target on November 8 changing the price objective from $185.00 to $190.00 and issued a “Market Perform” rating.
The company is down since yesterday’s close of 169.12. The most current P/E ratio is 17.00 and the market cap is 27.77B. As of the last earnings report the EPS was $9.84 with 165.97M shares presently outstanding.
Traders are feeling more bearish on Cummins Inc lately if you consider the uptick in short interest. The stock recorded a rise in short interest from October 13, 2017 to October 31, 2017 of 5.12%. Short shares grew from 3,806,242 to 4,001,139 over that period. The days to cover decreased to 3.0 and the short interest percentage is 0.02% as of October 31.