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

Cummins Inc. (NYSE:CMI - Get Free Report) has received a consensus recommendation of "Hold" from the thirteen ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $363.50.

Several research firms recently issued reports on CMI. The Goldman Sachs Group lifted their price target on shares of 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 lifted their price objective on shares of Cummins from $330.00 to $372.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Citigroup upped their target price on shares of Cummins from $415.00 to $435.00 and gave the stock a "buy" rating in a report on Monday, December 9th. 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. Finally, Evercore ISI raised Cummins from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,163 shares of the stock in a transaction dated 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 directly owns 20,803 shares in the company, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 6,489 shares of company stock worth $2,357,531 in the last ninety days. 0.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Cummins

Several institutional investors have recently made changes to their positions in the business. Chicago Capital LLC grew its position in shares of Cummins by 0.9% during the third quarter. Chicago Capital LLC now owns 3,288 shares of the company's stock valued at $1,065,000 after purchasing an additional 30 shares in the last quarter. Equitable Trust Co. lifted its position in shares of Cummins by 3.6% during the third quarter. Equitable Trust Co. now owns 920 shares of the company's stock worth $298,000 after purchasing an additional 32 shares during the last quarter. EP Wealth Advisors LLC boosted its position in Cummins by 1.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company's stock valued at $520,000 after buying an additional 35 shares during the period. Bangor Savings Bank grew its stake in Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company's stock worth $62,000 after purchasing an additional 35 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its stake in Cummins by 3.4% during the 2nd quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company's stock valued at $340,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 83.46% of the company's stock.

Cummins Stock Down 0.1 %

Shares of CMI stock traded down $0.23 on Thursday, reaching $359.75. 437,803 shares of the company were exchanged, compared to its average volume of 549,160. 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 50-day moving average of $361.38 and a 200-day moving average of $323.95. The company has a market cap of $49.35 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.80 and a beta of 1.01. Cummins has a one year low of $226.52 and a one year high of $387.90.

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

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were issued a $1.82 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.02%. Cummins's payout ratio is 48.08%.

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.