Cummins Inc. (NYSE:CMI) Given Average Rating of “Hold” by Analysts

Shares of Cummins Inc. (NYSE:CMI) have been given a consensus rating of “Hold” by the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $284.36.

A number of equities analysts have commented on CMI shares. The Goldman Sachs Group lifted their price objective on shares of Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Truist Financial reaffirmed a “hold” rating and set a $319.00 price objective on shares of Cummins in a research report on Wednesday, May 15th. TD Cowen lifted their price objective on shares of Cummins from $272.00 to $292.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. UBS Group raised shares of Cummins from a “neutral” rating to a “buy” rating and boosted their target price for the company from $254.00 to $321.00 in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research report on Monday, March 25th.

Insiders Place Their Bets

In other Cummins news, VP Jeffrey T. Wiltrout bought 282 shares of the stock in a transaction on Friday, May 24th. The stock was purchased at an average price of $285.11 per share, with a total value of $80,401.02. Following the completion of the purchase, the vice president now owns 1,262 shares in the company, valued at $359,808.82. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other Cummins news, VP Jeffrey T. Wiltrout bought 282 shares of the stock in a transaction on Friday, May 24th. The stock was purchased at an average price of $285.11 per share, with a total value of $80,401.02. Following the completion of the purchase, the vice president now owns 1,262 shares in the company, valued at $359,808.82. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Marvin Boakye bought 1,745 shares of the stock in a transaction on Monday, May 20th. The shares were acquired at an average cost of $286.04 per share, with a total value of $499,139.80. Following the purchase, the vice president now owns 1,745 shares of the company’s stock, valued at approximately $499,139.80. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in shares of Cummins in the first quarter valued at approximately $2,412,000. Garde Capital Inc. acquired a new position in shares of Cummins in the first quarter valued at approximately $111,000. Cetera Advisors LLC increased its stake in shares of Cummins by 162.9% in the first quarter. Cetera Advisors LLC now owns 22,870 shares of the company’s stock valued at $6,739,000 after buying an additional 14,170 shares during the period. Cetera Investment Advisers increased its stake in shares of Cummins by 394.8% in the first quarter. Cetera Investment Advisers now owns 55,046 shares of the company’s stock valued at $16,220,000 after buying an additional 43,921 shares during the period. Finally, Swedbank AB acquired a new position in shares of Cummins in the first quarter valued at approximately $44,489,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Shares of CMI opened at $281.73 on Wednesday. The company has a market cap of $38.54 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 1.78 and a beta of 1.04. Cummins has a 1-year low of $203.18 and a 1-year high of $304.24. The company’s fifty day simple moving average is $290.41 and its 200 day simple moving average is $262.43. The company has a current ratio of 1.34, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57.

Cummins (NYSE:CMI) last released its quarterly earnings data on Thursday, May 2nd. The company reported $5.10 EPS for the quarter, missing analysts’ consensus estimates of $5.11 by ($0.01). Cummins had a return on equity of 25.38% and a net margin of 5.70%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.36 billion. On average, research analysts forecast that Cummins will post 18.6 earnings per share for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Friday, May 24th will be paid a $1.68 dividend. This represents a $6.72 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, May 23rd. Cummins’s dividend payout ratio (DPR) is presently 49.19%.

About Cummins

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.