Cummins Inc. (NYSE:CMI) Receives Consensus Rating of "Hold" from Brokerages

Shares of Cummins Inc. (NYSE:CMI - Get Free Report) have been assigned a consensus recommendation of "Hold" from the thirteen analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $334.33.

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Cummins from $285.00 to $340.00 and gave the stock an "underweight" rating in a report on Friday, October 11th. Citigroup increased their price objective on shares of Cummins from $345.00 to $375.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Evercore ISI raised shares of Cummins from an "in-line" rating to an "outperform" rating and lifted their price objective for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Vertical Research cut Cummins from a "buy" rating to a "hold" rating and set a $350.00 target price for the company. in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their price target on Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th.

Cummins Price Performance

CMI stock traded down $2.59 during trading on Wednesday, reaching $359.27. The company's stock had a trading volume of 69,247 shares, compared to its average volume of 1,465,643. 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 company's fifty day moving average is $331.59 and its 200-day moving average is $302.93. The company has a market capitalization of $49.28 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97. Cummins has a 1 year low of $220.02 and a 1 year high of $370.21.

Cummins (NYSE:CMI - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.29 billion. During the same quarter last year, the business posted $4.73 earnings per share. The firm's revenue was up .3% on a year-over-year basis. On average, research analysts expect that Cummins will post 20.57 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be issued a $1.82 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.03%. Cummins's payout ratio is 48.08%.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the business's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the transaction, the vice president now owns 20,803 shares of the company's stock, valued at $7,427,503.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Tony Satterthwaite sold 24,250 shares of the stock in a transaction on Friday, August 23rd. The shares were 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 $23,870,722.08. This trade represents a 23.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,576 shares of company stock valued at $9,033,945 in the last ninety days. Corporate insiders own 0.56% of the company's stock.

Institutional Investors Weigh In On Cummins

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Cummins by 8.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company's stock valued at $2,342,001,000 after buying an additional 604,735 shares during the last quarter. State Street Corp lifted its position in Cummins by 2.1% during the third quarter. State Street Corp now owns 6,300,051 shares of the company's stock valued at $2,039,894,000 after acquiring an additional 126,703 shares during the last quarter. Fisher Asset Management LLC lifted its position in Cummins by 5.8% during the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company's stock valued at $973,174,000 after acquiring an additional 165,398 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in Cummins by 31,489.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock valued at $819,794,000 after acquiring an additional 2,523,854 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Cummins by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company's stock worth $469,869,000 after purchasing an additional 26,977 shares during the last quarter. 83.46% of the stock is currently 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.