0.97 is Cummins Inc’s (NYSE:CMI) Institutional Investor Sentiment

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Sentiment for Cummins Inc (NYSE:CMI)

Cummins Inc (NYSE:CMI) institutional sentiment decreased to 0.97 in 2015 Q3. Its down -0.07, from 1.04 in 2015Q2. The ratio turned negative, as 362 hedge funds started new or increased positions, while 374 sold and reduced stakes in Cummins Inc. The hedge funds in our partner’s database now possess: 152.29 million shares, up from 140.45 million shares in 2015Q2. Also, the number of hedge funds holding Cummins Inc in their top 10 positions decreased from 11 to 5 for a decrease of 6. Sold All: 99 Reduced: 275 Increased: 298 New Position: 64.

Cummins Inc. is a global diesel engine manufacturer. The company has a market cap of $17.63 billion. The Firm designs, makes, distributes and services diesel and natural gas engines and engine-related component products, including filtration, after treatment, turbochargers, fuel systems, controls systems, air handling systems and electric power generation systems. It has 10.56 P/E ratio. It has four operating divisions: Engine, Distribution, Components and Power Generation.

About 774,701 shares traded hands. Cummins Inc. (NYSE:CMI) has declined 28.33% since April 22, 2015 and is downtrending. It has underperformed by 27.31% the S&P500.

According to Zacks Investment Research, “Cummins Inc. is one of the leading worldwide designers and manufacturers of diesel engines. The company also produces natural gas engines and engine components and subsystems. Cummins provides power and components for a wide variety of equipment in its key businesses: engine, power generation, and filtration.” Get a free copy of the Zacks research report on Cummins Inc. (CMI)

Ratings analysis reveals 33% of Cummins’s analysts are positive. Out of 15 Wall Street analysts rating Cummins, 5 give it “Buy”, 2 “Sell” rating, while 8 recommend “Hold”. The lowest target is $79 while the high is $162. The stock’s average target of $120 is 21.61% above today’s ($98.68) share price. CMI was included in 22 notes of analysts from July 22, 2015. Deutsche Bank maintained the shares of Cummins in a note on November 11 with “Hold” rating. UBS downgraded CMI’s stock on an October 20. UBS has “Neutral” rating and $111 PR. Macquarie Research maintained Cummins’s stock on October 28 with “Outperform” rating. BMO Capital Markets downgraded it ^with/to4^ “Market Perform” rating and $110 PT in October 6 note. Finally, Morgan Stanley downgraded the shares of Cummins to “Underweight” rating in an October 28 note.

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