Shares of Cummins Inc. (NYSE:CMI – Get Free Report) 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.
Check Out Our Latest Research Report on CMI
Insider Buying and Selling
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 – Get Free Report) 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.
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