Cummins shares rose 3.7% this afternoon to a price of $273.37. The stock is still trading within range of its average target price of $268.99, and over the last 52 weeks, it has recorded a 17.0% performance. Analysts have given the Large-Cap Farm & Heavy Construction Machinery stock target prices ranging from $237.0 to $303.9 dollars per share, with an average rating of hold.
Cummins's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 4.1%. The stock's short ratio is 3.15. The company's insiders own 0.4% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.
Another number to watch is the company's rate of institutional share ownership, which now stands at 86.1%. In conclusion, we believe there is mixed market sentiment regarding Cummins.
Institutions Invested in Cummins
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-12-31 | Vanguard Group Inc | 13% | 17,755,513 | $4,853,824,502 |
| 2023-12-31 | Blackrock Inc. | 8% | 11,524,674 | $3,150,500,075 |
| 2023-12-31 | Price (T.Rowe) Associates Inc | 5% | 7,343,678 | $2,007,541,219 |
| 2023-12-31 | State Street Corporation | 4% | 6,330,906 | $1,730,679,742 |
| 2023-12-31 | Geode Capital Management, LLC | 2% | 3,169,338 | $866,401,913 |
| 2023-12-31 | Fisher Asset Management, LLC | 2% | 2,587,895 | $707,452,843 |
| 2023-12-31 | Morgan Stanley | 1% | 2,078,673 | $568,246,827 |
| 2023-12-31 | First Eagle Investment Management, LLC | 1% | 1,995,739 | $545,575,160 |
| 2023-12-31 | Public Investment Fund | 1% | 1,800,301 | $492,148,275 |
| 2023-12-31 | Northern Trust Corporation | 1% | 1,733,643 | $473,925,978 |
