Cummins Inc. (NYSE:CMI) Given Consensus Rating of “Hold” by Brokerages

Cummins Inc. (NYSE:CMI) has been assigned a consensus recommendation of “Hold” from the twelve research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $311.55.

A number of equities research analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Barclays boosted 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. Truist Financial increased their price objective on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Evercore ISI lifted their price target on shares of Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th.

Insider Activity

In other news, SVP Tony Satterthwaite sold 24,250 shares of Cummins stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the completion of the sale, the senior vice president now 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Sharon R. Barner sold 4,780 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total value of $1,435,673.00. Following the sale, the vice president now directly owns 20,873 shares of the company’s stock, valued at $6,269,205.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $308.24, for a total value of $7,474,820.00. Following the sale, the senior vice president now directly owns 77,442 shares in the company, valued at approximately $23,870,722.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

Institutional Trading of Cummins

Several large investors have recently made changes to their positions in CMI. PFG Investments LLC raised its stake in shares of Cummins by 27.7% in the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after acquiring an additional 485 shares during the period. CWM LLC lifted its position in Cummins by 17.4% in the third quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after acquiring an additional 1,786 shares during the last quarter. Distillate Capital Partners LLC boosted its position in shares of Cummins by 109,309.3% in the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock valued at $16,361,000 after purchasing an additional 59,027 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Cummins during the second quarter worth approximately $16,329,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Cummins by 13.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 186,913 shares of the company’s stock worth $55,073,000 after purchasing an additional 21,850 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Performance

Cummins stock opened at $328.51 on Friday. The firm has a fifty day simple moving average of $318.94 and a two-hundred day simple moving average of $297.09. Cummins has a twelve month low of $212.80 and a twelve month high of $340.82. The company has a market capitalization of $45.02 billion, a PE ratio of 23.68, a P/E/G ratio of 1.90 and a beta of 0.98. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI) last released its quarterly earnings data on Thursday, August 1st. The company reported $5.26 earnings per share for the quarter, beating analysts’ consensus estimates of $4.85 by $0.41. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The firm had revenue of $8.80 billion during the quarter, compared to analyst estimates of $8.33 billion. During the same quarter in the prior year, the firm posted $5.18 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Cummins will post 19.96 EPS for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio (DPR) is 52.49%.

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.