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

Shares of Cummins Inc. (NYSE:CMI) have received a consensus rating of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $287.55.

A number of equities research analysts recently weighed in on the stock. 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. The Goldman Sachs Group increased their price target on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price objective on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research report on Monday, March 25th. UBS Group raised Cummins from a “neutral” rating to a “buy” rating and increased their target price for the stock from $254.00 to $321.00 in a research report on Friday, March 15th. Finally, Citigroup initiated coverage on shares of Cummins in a report on Wednesday. They set a “buy” rating and a $320.00 price target for the company.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 3,880 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total value of $1,113,016.80. Following the completion of the sale, the vice president now directly owns 20,873 shares of the company’s stock, valued at approximately $5,987,628.78. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Sharon R. Barner sold 3,880 shares of Cummins stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the transaction, the vice president now directly owns 20,873 shares in the company, valued at approximately $5,987,628.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Jeffrey T. Wiltrout acquired 282 shares of the business’s stock in a transaction dated 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 acquisition, the vice president now owns 1,262 shares of the company’s stock, valued at $359,808.82. The disclosure for this purchase can be found here. 0.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cummins

Several hedge funds have recently made changes to their positions in the business. First United Bank & Trust bought a new position in shares of Cummins in the fourth quarter valued at $25,000. Private Wealth Management Group LLC acquired a new position in shares of Cummins in the 4th quarter valued at $26,000. Silver Oak Securities Incorporated purchased a new position in Cummins in the 3rd quarter worth about $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in Cummins during the 4th quarter worth about $31,000. Finally, LRI Investments LLC purchased a new stake in Cummins during the first quarter valued at about $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Down 0.4 %

NYSE:CMI opened at $280.43 on Friday. The company has a market cap of $38.36 billion, a PE ratio of 20.53, a P/E/G ratio of 1.76 and a beta of 1.02. The business’s 50 day moving average is $282.74 and its two-hundred day moving average is $268.31. The company has a quick ratio of 0.84, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. Cummins has a 52 week low of $212.80 and a 52 week high of $304.24.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $5.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.11 by ($0.01). Cummins had a return on equity of 25.38% and a net margin of 5.70%. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.36 billion. On average, analysts predict that Cummins will post 18.84 EPS for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Friday, May 24th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, May 23rd. Cummins’s payout ratio is currently 49.19%.

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.