Cummins (NYSE:CMI) Stock Rating Lowered by StockNews.com

Cummins (NYSE:CMI) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

A number of other brokerages have also weighed in on CMI. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Robert W. Baird lifted their target price on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $354.00 to $358.00 in a research report on Tuesday. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and increased their target price for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Finally, Citigroup dropped their price target on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $374.17.

Cummins Stock Down 0.9 %

CMI stock opened at $360.80 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The firm’s 50-day simple moving average is $362.81 and its 200 day simple moving average is $326.21. The stock has a market cap of $49.49 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99. Cummins has a fifty-two week low of $226.52 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the company posted $4.73 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Cummins will post 20.75 EPS for the current year.

Insider Buying and Selling

In other news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 6,489 shares of company stock worth $2,357,531. 0.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. J2 Capital Management Inc acquired a new stake in Cummins in the 4th quarter worth $654,000. Aaron Wealth Advisors LLC lifted its position in shares of Cummins by 25.8% in the 4th quarter. Aaron Wealth Advisors LLC now owns 1,326 shares of the company’s stock worth $462,000 after acquiring an additional 272 shares during the period. Astoria Portfolio Advisors LLC. grew its holdings in shares of Cummins by 5.1% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 1,106 shares of the company’s stock worth $403,000 after purchasing an additional 54 shares in the last quarter. Financial Management Professionals Inc. increased its position in shares of Cummins by 9.0% during the fourth quarter. Financial Management Professionals Inc. now owns 1,766 shares of the company’s stock valued at $616,000 after purchasing an additional 146 shares during the period. Finally, Ameritas Advisory Services LLC raised its stake in shares of Cummins by 15.1% in the fourth quarter. Ameritas Advisory Services LLC now owns 3,192 shares of the company’s stock valued at $1,113,000 after purchasing an additional 418 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

About Cummins

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.