Cummins (NYSE:CMI) Price Target Raised to $435.00 at Jefferies Financial Group

Cummins (NYSE:CMI - Get Free Report) had its price target lifted by research analysts at Jefferies Financial Group from $410.00 to $435.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Jefferies Financial Group's price objective points to a potential upside of 14.59% from the stock's current price.

Several other brokerages also recently issued reports on CMI. Citigroup raised their price objective on shares of Cummins from $375.00 to $415.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Truist Financial raised their price objective on shares of Cummins from $349.00 to $371.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. 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. Vertical Research downgraded shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 price target for the company. in a research report on Wednesday, November 6th. Finally, Evercore ISI upgraded shares of Cummins from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $345.15.

Cummins Stock Performance

CMI stock traded up $1.03 during mid-day trading on Friday, hitting $379.60. 752,410 shares of the company were exchanged, compared to its average volume of 519,641. The business has a 50 day simple moving average of $347.40 and a 200-day simple moving average of $309.68. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $52.07 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 1.84 and a beta of 0.99. Cummins has a 1-year low of $226.52 and a 1-year high of $382.86.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion during 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 business's revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the business posted $4.73 earnings per share. On average, equities analysts forecast that Cummins will post 20.75 earnings per share for the current year.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the sale, the vice president now owns 20,803 shares of the company's stock, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is currently owned by insiders.

Institutional Trading of Cummins

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pathway Financial Advisers LLC grew its stake in shares of Cummins by 31,489.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company's stock worth $819,794,000 after purchasing an additional 2,523,854 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Cummins by 38,765.8% in the third quarter. International Assets Investment Management LLC now owns 974,755 shares of the company's stock worth $315,616,000 after purchasing an additional 972,247 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Cummins in the second quarter worth $68,018,000. Renaissance Technologies LLC bought a new stake in shares of Cummins in the second quarter worth $46,607,000. Finally, Fisher Asset Management LLC grew its stake in shares of Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company's stock worth $973,174,000 after purchasing an additional 165,398 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.