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

Cummins Inc. (NYSE:CMI) has been assigned an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $383.08.

CMI has been the topic of a number of research analyst reports. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. Citigroup dropped their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Truist Financial upped their target price on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Finally, Jefferies Financial Group boosted their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th.

Cummins Stock Performance

Cummins stock opened at $372.12 on Monday. The firm has a 50 day simple moving average of $361.82 and a 200-day simple moving average of $336.13. The stock has a market cap of $51.05 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79. Cummins has a 1-year low of $247.53 and a 1-year high of $387.90.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.14 earnings per share. On average, analysts expect that Cummins will post 22.57 EPS for the current year.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the transaction, the vice president now owns 20,803 shares in the company, valued at $7,678,803.36. This represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 4,327 shares of company stock valued at $1,582,821 in the last ninety days. Insiders own 0.56% of the company’s stock.

Institutional Trading of Cummins

Institutional investors and hedge funds have recently made changes to their positions in the company. PFG Investments LLC increased its position in Cummins by 27.7% during the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after buying an additional 485 shares during the period. Mariner Investment Group LLC acquired a new position in shares of Cummins in the 4th quarter valued at $1,046,000. CWM LLC raised its position in Cummins by 17.4% in the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after purchasing an additional 1,786 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new stake in Cummins during the 3rd quarter worth $748,000. Finally, Franklin Resources Inc. grew its position in Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after purchasing an additional 99,464 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

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.