Cummins Inc. (NYSE:CMI) Receives Consensus Rating of “Hold” from Brokerages

Shares of Cummins Inc. (NYSE:CMI) have been given a consensus rating of “Hold” by the eleven analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $282.55.

A number of brokerages recently commented on CMI. The Goldman Sachs Group lifted their price objective on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. increased their price target on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research report on Monday, March 25th. StockNews.com upgraded shares of Cummins from a “hold” rating to a “buy” rating in a report on Wednesday. Truist Financial increased their target price on shares of Cummins from $303.00 to $319.00 and gave the stock a “hold” rating in a report on Friday, May 3rd. Finally, TD Cowen boosted their price target on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th.

Insider Activity at Cummins

In other news, VP Sharon R. Barner sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the completion of the transaction, the vice president now directly owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Cummins news, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the sale, the vice president now directly owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Sharon R. Barner sold 3,880 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total value of $1,113,016.80. Following the completion of the transaction, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $5,987,628.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,169 shares of company stock valued at $14,689,855. 0.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Cummins

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Cummins by 13.1% in the third quarter. Vanguard Group Inc. now owns 17,761,317 shares of the company’s stock valued at $4,057,750,000 after acquiring an additional 2,055,239 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Cummins by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,343,678 shares of the company’s stock valued at $1,759,326,000 after purchasing an additional 246,025 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Cummins by 4.3% during the fourth quarter. Fisher Asset Management LLC now owns 2,590,894 shares of the company’s stock worth $620,701,000 after purchasing an additional 106,017 shares during the period. Morgan Stanley raised its stake in Cummins by 2.7% in the third quarter. Morgan Stanley now owns 1,898,796 shares of the company’s stock valued at $433,799,000 after buying an additional 50,476 shares during the period. Finally, Northern Trust Corp raised its stake in Cummins by 4.0% in the third quarter. Northern Trust Corp now owns 1,815,729 shares of the company’s stock valued at $414,821,000 after buying an additional 69,830 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Cummins stock opened at $288.97 on Friday. The company has a market cap of $39.53 billion, a PE ratio of 21.15, a PEG ratio of 1.90 and a beta of 1.04. The company has a current ratio of 1.34, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. Cummins has a 1 year low of $203.18 and a 1 year high of $304.24. The company’s 50-day moving average is $286.11 and its two-hundred day moving average is $253.84.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). The business had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.52 earnings per share. Equities analysts anticipate that Cummins will post 18.45 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were given a dividend of $1.68 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 annualized dividend and a dividend yield of 2.33%. Cummins’s dividend payout ratio is currently 49.19%.

Cummins Company Profile

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.