Robert W. Baird Issues Pessimistic Forecast for Cummins (NYSE:CMI) Stock Price

Cummins (NYSE:CMI - Free Report) had its target price lowered by Robert W. Baird from $407.00 to $315.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also issued reports on CMI. Bank of America raised Cummins from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $354.00 to $358.00 in a report on Tuesday, January 14th. UBS Group lowered shares of Cummins from a "buy" rating to a "sell" rating and decreased their target price for the stock from $400.00 to $240.00 in a research report on Monday, April 7th. Barclays lifted their target price on Cummins from $310.00 to $381.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. StockNews.com downgraded Cummins from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Cummins from $375.00 to $308.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $346.00.

Cummins Stock Up 0.3 %

Shares of Cummins stock traded up $0.81 during trading hours on Tuesday, reaching $281.37. 624,084 shares of the company were exchanged, compared to its average volume of 811,560. Cummins has a 1 year low of $260.02 and a 1 year high of $387.90. The firm has a market cap of $38.76 billion, a PE ratio of 9.99, a PEG ratio of 2.19 and a beta of 1.07. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The stock's fifty day moving average is $328.65 and its 200 day moving average is $345.57.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (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 during the quarter, compared to the consensus estimate of $8.06 billion. Cummins's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $4.14 EPS. As a group, equities research analysts forecast that Cummins will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Friday, February 21st. Cummins's dividend payout ratio (DPR) is presently 25.84%.

Institutional Trading of Cummins

Hedge funds and other institutional investors have recently modified their holdings of the company. Lion Street Advisors LLC grew its holdings in Cummins by 7.6% during the first quarter. Lion Street Advisors LLC now owns 1,238 shares of the company's stock worth $388,000 after acquiring an additional 87 shares during the period. Cornerstone Wealth Management LLC boosted its position in shares of Cummins by 7.8% during the 1st quarter. Cornerstone Wealth Management LLC now owns 3,565 shares of the company's stock valued at $1,118,000 after purchasing an additional 259 shares in the last quarter. Cardinal Capital Management grew its stake in shares of Cummins by 0.5% in the 1st quarter. Cardinal Capital Management now owns 21,019 shares of the company's stock worth $6,588,000 after purchasing an additional 103 shares during the last quarter. WD Rutherford LLC raised its holdings in shares of Cummins by 1.9% in the 1st quarter. WD Rutherford LLC now owns 10,267 shares of the company's stock worth $2,950,000 after purchasing an additional 193 shares in the last quarter. Finally, Grove Bank & Trust lifted its stake in Cummins by 367.5% during the first quarter. Grove Bank & Trust now owns 388 shares of the company's stock valued at $122,000 after purchasing an additional 305 shares during the last quarter. Institutional investors own 83.46% of the company's stock.

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.