From MarketBeat:

Park Avenue Securities LLC purchased 4,882 shares of Cummins Inc. worth $1,115,000, while Bank Julius Baer & Co. Ltd Zurich holds majority shares of $851,192,000. Norges Bank bought stakes worth $292,182,000, and Bank of Montreal Can purchased shares valued at $70,435,000. Fisher Asset Management LLC owns 2,361,324 shares of Cummins’ stock, and State Street Corp has 6,482,278 shares. Cummins Inc. opened at $237.15, with a 1-year low of $203.18 and high of $265.28. The company has a market capitalization of $33.61 billion and is expected to post 19.92 EPS for the current fiscal year.

The company recently reported $4.73 EPS for the quarter, with $8.43 billion in revenue and a return on equity of 26.12%, outperforming analysts’ estimates. However, analysts at Morgan Stanley gave Cummins an “overweight” rating, while JPMorgan Chase & Co. and Bank of America both lowered their targets. Fisher Asset Management lowered Cummins from a “strong-buy” rating to a “buy” rating.

Cummins Inc. designs, manufactures, and distributes diesel and natural gas engines and components worldwide. They have a debt-to-equity ratio of 0.42, a current ratio of 1.43, and a beta of 1.03. Additionally, the company offers parts and services, as well as remanufactured parts and engines. Despite a “Hold” rating among analysts, MarketBeat has identified five stocks that are better buys than Cummins.



Read more: Park Avenue Securities LLC Purchases New Shares in Cummins Inc. (NYSE:CMI)