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

Shares of Cummins Inc. (NYSE:CMI) have received an average recommendation of “Hold” from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $311.55.

CMI has been the topic of a number of analyst reports. Robert W. Baird increased their price objective on Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Raymond James started coverage on Cummins in a report on Friday, June 28th. They issued a “market perform” rating for the company. Barclays lifted their price target on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Citigroup lifted their price target on Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Evercore ISI lifted their price target on Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a report on Monday, August 19th.

Insider Buying and Selling

In related news, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the transaction, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the transaction, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Sharon R. Barner sold 4,780 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now directly 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 disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cummins

A number of institutional investors have recently made changes to their positions in CMI. Brookstone Capital Management raised its position in shares of Cummins by 33.3% in the 1st quarter. Brookstone Capital Management now owns 2,232 shares of the company’s stock valued at $658,000 after purchasing an additional 558 shares in the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of Cummins by 110.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,381 shares of the company’s stock valued at $996,000 after acquiring an additional 1,775 shares during the last quarter. CRA Financial Services LLC bought a new stake in shares of Cummins in the 1st quarter valued at approximately $202,000. River Street Advisors LLC increased its holdings in shares of Cummins by 4.9% in the 1st quarter. River Street Advisors LLC now owns 5,872 shares of the company’s stock valued at $1,730,000 after acquiring an additional 275 shares during the last quarter. Finally, Cornerstone Wealth Group LLC increased its holdings in shares of Cummins by 51.8% in the 1st quarter. Cornerstone Wealth Group LLC now owns 34,140 shares of the company’s stock valued at $10,059,000 after acquiring an additional 11,647 shares during the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Down 1.0 %

CMI opened at $329.17 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.51. The firm has a market cap of $45.02 billion, a P/E ratio of 24.10, a PEG ratio of 1.92 and a beta of 0.98. Cummins has a 52 week low of $212.80 and a 52 week high of $340.82. The business’s fifty day simple moving average is $315.70 and its 200 day simple moving average is $295.82.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $5.26 EPS for the quarter, beating analysts’ consensus estimates of $4.85 by $0.41. The business had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $5.18 earnings per share. As a group, equities research analysts anticipate that Cummins will post 19.77 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be paid a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio is currently 53.29%.

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.