Cummins Inc. (NYSE:CMI) Receives Average Rating of “Hold” from Analysts

by · The Markets Daily

Cummins Inc. (NYSE:CMI – Get Free Report) has earned a consensus recommendation of “Hold” from the twelve research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $311.55.

Several research analysts have recently issued reports on the company. Robert W. Baird raised their price target on Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Citigroup lifted their target price on Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI raised their price objective on Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a report on Monday, August 19th. JPMorgan Chase & Co. increased their price target on shares of Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. Finally, Barclays lifted their target price on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th.

Get Our Latest Research Report on Cummins

Cummins Price Performance

Shares of CMI stock opened at $328.51 on Friday. Cummins has a 12 month low of $212.80 and a 12 month high of $340.82. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average of $318.94 and a two-hundred day moving average of $297.09. The company has a market capitalization of $45.02 billion, a P/E ratio of 23.68, a P/E/G ratio of 1.90 and a beta of 0.98.

Cummins (NYSE:CMI – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $5.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.85 by $0.41. The firm had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $8.33 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $5.18 EPS. As a group, equities analysts expect that Cummins will post 19.96 EPS for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins’s dividend payout ratio (DPR) is 52.49%.

Insider Activity at Cummins

In other news, VP Sharon R. Barner sold 4,780 shares of Cummins stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the completion of the transaction, the vice president now owns 20,873 shares in the company, valued at $6,269,205.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cummins news, VP Sharon R. Barner sold 4,780 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $300.35, for a total value of $1,435,673.00. Following the completion of the transaction, the vice president now owns 20,873 shares in the company, valued at $6,269,205.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the sale, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cummins

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMI. Chicago Capital LLC increased its position in shares of Cummins by 0.9% in the third quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after purchasing an additional 30 shares during the last quarter. Equitable Trust Co. increased its holdings in shares of Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock worth $298,000 after buying an additional 32 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its position in shares of Cummins by 0.7% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company’s stock valued at $1,488,000 after buying an additional 35 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Cummins by 1.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after acquiring an additional 35 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its position in Cummins by 3.4% in the second quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company’s stock worth $340,000 after acquiring an additional 38 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Company Profile

(Get Free Report

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.

Recommended Stories