Brokerages Set Cummins Inc. (NYSE:CMI) PT at $311.55

Shares of Cummins Inc. (NYSE:CMI - Get Free Report) have been assigned a consensus recommendation of "Hold" from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $311.55.

A number of research firms have commented on CMI. JPMorgan Chase & Co. boosted their price objective on Cummins from $285.00 to $340.00 and gave the stock an "underweight" rating in a research note on Friday, October 11th. Truist Financial upped their price target 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. Barclays boosted their target price on shares of Cummins from $259.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Monday, August 5th. Citigroup increased their price target on shares of Cummins from $345.00 to $375.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird raised their price target on shares of Cummins from $295.00 to $315.00 and gave the company a "neutral" rating in a report on Friday, August 2nd.

Cummins Price Performance

Shares of Cummins stock traded down $3.31 during mid-day trading on Friday, reaching $329.17. 604,435 shares of the stock were exchanged, compared to its average volume of 1,539,366. Cummins has a fifty-two week low of $212.80 and a fifty-two week high of $340.82. The company has a market cap of $45.02 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 1.92 and a beta of 0.98. The firm has a 50-day simple moving average of $316.25 and a 200 day simple moving average of $296.02. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $5.26 earnings per share for the quarter, topping the consensus estimate of $4.85 by $0.41. The company had revenue of $8.80 billion during the quarter, compared to analyst estimates of $8.33 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. The company's revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $5.18 earnings per share. On average, sell-side analysts predict that Cummins will post 19.77 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be paid a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, November 22nd. Cummins's payout ratio is 53.29%.

Insider Transactions at Cummins

In related news, SVP Tony Satterthwaite sold 24,250 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the sale, the senior vice president now directly owns 77,442 shares in the company, valued at $23,870,722.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Tony Satterthwaite sold 24,250 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the sale, the senior vice president now owns 77,442 shares of the company's stock, valued at approximately $23,870,722.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Sharon R. Barner sold 4,780 shares of Cummins stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $300.35, for a total value of $1,435,673.00. Following the transaction, the vice president now owns 20,873 shares in the company, valued at approximately $6,269,205.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company's stock.

Institutional Trading of Cummins

A number of large investors have recently bought and sold shares of the business. Chicago Capital LLC lifted its holdings in shares of Cummins by 0.9% in 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. Atlantic Edge Private Wealth Management LLC lifted its stake in Cummins by 0.7% in the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company's stock valued at $1,488,000 after acquiring an additional 35 shares in the last quarter. EP Wealth Advisors LLC boosted its position in Cummins by 1.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company's stock worth $520,000 after acquiring an additional 35 shares during the last quarter. Fidelis Capital Partners LLC grew its stake in shares of Cummins by 3.4% during the 2nd quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company's stock worth $340,000 after acquiring an additional 38 shares in the last quarter. Finally, Bangor Savings Bank raised its holdings in shares of Cummins by 39.2% in the second quarter. Bangor Savings Bank now owns 142 shares of the company's stock valued at $39,000 after purchasing an additional 40 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

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.