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

Shares of Cummins Inc. (NYSE:CMI - Get Free Report) have been assigned a consensus rating of "Hold" from the thirteen analysts that are currently covering the company, Marketbeat reports. Eight investment 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 covered the stock in the last year is $389.50.

Several research firms recently issued reports on CMI. Jefferies Financial Group upped their target price on Cummins from $410.00 to $435.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Robert W. Baird raised their price objective on Cummins from $395.00 to $407.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Bank of America upgraded Cummins from an "underperform" rating to a "neutral" rating and upped their target price for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Truist Financial raised their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a "hold" rating in a research report on Thursday, January 16th. Finally, Evercore ISI upped their price objective on shares of Cummins from $408.00 to $451.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Global Trust Asset Management LLC increased its holdings in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after acquiring an additional 28 shares in the last quarter. KG&L Capital Management LLC boosted its holdings in Cummins by 0.8% in the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company's stock worth $1,296,000 after buying an additional 28 shares during the last quarter. Signaturefd LLC increased its stake in Cummins by 0.9% during the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company's stock worth $1,155,000 after buying an additional 28 shares in the last quarter. Fiduciary Trust Co raised its holdings in shares of Cummins by 1.2% during the fourth quarter. Fiduciary Trust Co now owns 2,456 shares of the company's stock valued at $856,000 after acquiring an additional 28 shares during the last quarter. Finally, Massachusetts Wealth Management lifted its position in shares of Cummins by 0.6% in the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company's stock valued at $1,677,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company's stock.

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Cummins Stock Down 0.3 %

Shares of Cummins stock traded down $1.04 during trading on Tuesday, reaching $326.99. The company's stock had a trading volume of 126,160 shares, compared to its average volume of 758,603. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The company has a market cap of $44.95 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a 50-day simple moving average of $354.07 and a two-hundred day simple moving average of $348.10. Cummins has a 1-year low of $261.51 and a 1-year high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. Cummins's revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm posted $4.14 EPS. As a group, equities analysts forecast that Cummins will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were issued a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.23%. The ex-dividend date was Friday, February 21st. Cummins's payout ratio 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.