Cummins Inc. (NYSE:CMI) Receives Average Rating of "Hold" from Analysts

Cummins Inc. (NYSE:CMI - Get Free Report) has been assigned a consensus rating of "Hold" from the fourteen analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $352.85.

A number of equities research analysts recently commented on the company. The Goldman Sachs Group upped their target price on Cummins from $324.00 to $370.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Robert W. Baird upped their target price on Cummins from $330.00 to $372.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Citigroup upped their target price on Cummins from $415.00 to $435.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Jefferies Financial Group upped their price objective on Cummins from $410.00 to $435.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Finally, Truist Financial upped their price objective on Cummins from $349.00 to $371.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th.

Insider Activity

In related news, VP Sharon R. Barner sold 162 shares of the stock in a transaction on Friday, November 8th. The stock was 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 directly owns 20,803 shares of the company's stock, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 6,489 shares of company stock worth $2,357,531 in the last quarter. Corporate insiders own 0.56% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. PFG Investments LLC raised its stake in 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 purchasing an additional 485 shares during the last quarter. CWM LLC raised its stake 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. Distillate Capital Partners LLC raised its stake in 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 last quarter. Alpha DNA Investment Management LLC acquired a new stake in shares of Cummins in the 3rd quarter worth $748,000. Finally, Dupree Financial Group LLC acquired a new stake in shares of Cummins in the 3rd quarter worth $3,925,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Stock Down 0.8 %

Cummins stock traded down $3.06 during trading hours on Friday, reaching $367.51. The stock had a trading volume of 675,030 shares, compared to its average volume of 1,412,656. Cummins has a 52 week low of $226.52 and a 52 week high of $387.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The company has a market cap of $50.42 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.80 and a beta of 0.99. The business's 50 day moving average price is $353.19 and its 200-day moving average price is $313.66.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.73 earnings per share. Sell-side analysts anticipate that Cummins will post 20.75 EPS for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were given a dividend of $1.82 per share. The ex-dividend date was Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.98%. Cummins's dividend payout ratio (DPR) is 48.08%.

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.