Stock Yards Bank & Trust Co. bought a new stake in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,162 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Cummins by 2.6% during the second quarter. Vanguard Group Inc. now owns 11,614,316 shares of the company’s stock valued at $1,884,074,000 after purchasing an additional 298,352 shares in the last quarter. BlackRock Inc. increased its stake in shares of Cummins by 4.1% during the second quarter. BlackRock Inc. now owns 10,633,275 shares of the company’s stock valued at $1,724,930,000 after purchasing an additional 422,135 shares in the last quarter. Boston Partners bought a new position in shares of Cummins during the third quarter valued at approximately $416,229,000. First Eagle Investment Management LLC increased its stake in shares of Cummins by 2.0% during the third quarter. First Eagle Investment Management LLC now owns 1,997,863 shares of the company’s stock valued at $335,701,000 after purchasing an additional 39,674 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Cummins by 43.8% during the second quarter. FMR LLC now owns 1,989,718 shares of the company’s stock valued at $322,772,000 after purchasing an additional 606,085 shares in the last quarter. 82.31% of the stock is owned by institutional investors and hedge funds.

Shares of Cummins Inc. (NYSE:CMI) traded down $1.40 during mid-day trading on Thursday, reaching $180.56. 911,100 shares of the company traded hands, compared to its average volume of 1,213,371. Cummins Inc. has a 52 week low of $134.06 and a 52 week high of $183.34. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $30,360.00, a PE ratio of 18.35, a P/E/G ratio of 1.30 and a beta of 1.14.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.47 by $0.24. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter last year, the company posted $2.02 earnings per share. The firm’s quarterly revenue was up 26.2% on a year-over-year basis. analysts predict that Cummins Inc. will post 10.2 EPS for the current year.

A number of research firms have recently commented on CMI. Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. Wells Fargo & Co increased their price target on shares of Cummins from $184.50 to $190.00 and gave the company a “market perform” rating in a report on Friday, October 6th. Deutsche Bank reiterated a “sell” rating and set a $159.00 price target (up previously from $147.00) on shares of Cummins in a report on Monday, October 9th. Longbow Research cut shares of Cummins from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Finally, Robert W. Baird reiterated a “sell” rating and set a $153.00 price target on shares of Cummins in a report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $178.69.

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About Cummins

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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