Cummins Inc. (NYSE:CMI) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Cummins Inc. (NYSE:CMI) have received a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $389.50.

A number of brokerages recently weighed in on CMI. Robert W. Baird upped their price objective on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. StockNews.com cut shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Cummins from $420.00 to $375.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Jefferies Financial Group upped their target price on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, UBS Group reduced their price target on shares of Cummins from $432.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Trust Asset Management LLC lifted its stake in shares of Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares during the period. BankPlus Trust Department purchased a new position in shares of Cummins during the 4th quarter worth $26,000. Compass Financial Services Inc purchased a new stake in shares of Cummins in the fourth quarter valued at $27,000. Meeder Asset Management Inc. increased its stake in Cummins by 208.0% in the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock valued at $27,000 after purchasing an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC purchased a new position in Cummins during the fourth quarter worth about $28,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Up 2.8 %

Shares of Cummins stock opened at $331.02 on Tuesday. The company has a market cap of $45.51 billion, a P/E ratio of 11.75, a PEG ratio of 2.19 and a beta of 1.01. The firm has a fifty day moving average of $355.39 and a two-hundred day moving average of $347.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. Cummins has a one year low of $261.51 and a one year high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter last year, the firm earned $4.14 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. On average, analysts forecast that Cummins will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio is presently 25.84%.

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.