Cummins Inc. (NYSE:CMI) Receives $346.00 Average PT from Analysts

Cummins Inc. (NYSE:CMI - Get Free Report) has been assigned an average recommendation of "Hold" from the fourteen research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $346.00.

A number of equities research analysts have recently issued reports on CMI shares. Barclays boosted their target price on Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Robert W. Baird cut their target price on Cummins from $407.00 to $315.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Truist Financial cut their target price on Cummins from $420.00 to $338.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley lowered their price target on Cummins from $425.00 to $340.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Bank of America upgraded Cummins from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $354.00 to $358.00 in a report on Tuesday, January 14th.

Institutional Trading of Cummins

Institutional investors and hedge funds have recently made changes to their positions in the stock. Global Trust Asset Management LLC lifted its position in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after buying an additional 28 shares during the last quarter. BankPlus Trust Department acquired a new stake in shares of Cummins in the fourth quarter worth about $26,000. Compass Financial Services Inc acquired a new stake in shares of Cummins in the fourth quarter worth about $27,000. Meeder Asset Management Inc. lifted its position in shares of Cummins by 208.0% in the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock worth $27,000 after buying an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC acquired a new stake in shares of Cummins in the fourth quarter worth about $28,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Price Performance

Shares of CMI traded up $11.96 during midday trading on Friday, reaching $291.07. The stock had a trading volume of 100,662 shares, compared to its average volume of 914,021. Cummins has a 52 week low of $260.02 and a 52 week high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The firm's 50 day moving average price is $323.22 and its 200-day moving average price is $344.66. The company has a market capitalization of $40.09 billion, a P/E ratio of 10.33, a P/E/G ratio of 2.19 and a beta of 1.07.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts' consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter in the previous year, the business earned $4.14 EPS. The company's quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts forecast that Cummins will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a yield of 2.50%. Cummins's dividend payout ratio (DPR) is currently 25.84%.

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.