Weekly Analysts’ Ratings Changes for Cummins (CMI)

Several analysts have recently updated their ratings and price targets for Cummins (NYSE: CMI):

• 12/19/2024 – Cummins had its price target raised by analysts at Truist Financial Co. from $369.00 to $424.00. They now have a “hold” rating on the stock.
• 12/9/2024 – Cummins was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating. They now have a $420.00 price target on the stock, up previously from $355.00.
• 12/9/2024 – Cummins had its price target raised by analysts at Citigroup Inc. from $415.00 to $435.00. They now have a “buy” rating on the stock.
• 12/6/2024 – Cummins had its price target raised by analysts at Jefferies Financial Group Inc. from $410.00 to $435.00. They now have a “buy” rating on the stock.
• 11/20/2024 – Cummins had its price target raised by analysts at Citigroup Inc. from $375.00 to $415.00. They now have a “buy” rating on the stock.
• 11/13/2024 – Cummins was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating. They now have a $408.00 price target on the stock, up previously from $294.00.
• 11/6/2024 – Cummins was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 11/6/2024 – Cummins had its price target raised by analysts at The Goldman Sachs Group, Inc. from $324.00 to $370.00. They now have a “neutral” rating on the stock.
• 11/6/2024 – Cummins had its price target raised by analysts at Robert W. Baird from $330.00 to $372.00. They now have a “neutral” rating on the stock.
• 11/6/2024 – Cummins was downgraded by analysts at Vertical Research from a “buy” rating to a “hold” rating. They now have a $350.00 price target on the stock.

Cummins Price Performance

Shares of CMI traded up $2.72 during trading hours on Wednesday, hitting $353.85. 182,493 shares of the company were exchanged, compared to its average volume of 1,394,672. The company has a market cap of $48.54 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 1.80 and a beta of 0.99. The firm’s fifty day moving average is $356.20 and its 200 day moving average is $317.82. Cummins Inc. has a fifty-two week low of $226.52 and a fifty-two week high of $387.90. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The firm had revenue of $8.46 billion for 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 in the previous year, the firm earned $4.73 EPS. On average, equities analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were paid a $1.82 dividend. The ex-dividend date was Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 2.06%. Cummins’s dividend payout ratio (DPR) is 48.08%.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 6,489 shares of company stock valued at $2,357,531 in the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cummins

Several large investors have recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new position in shares of Cummins in the third quarter valued at $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in Cummins in the 3rd quarter worth approximately $34,000. nVerses Capital LLC purchased a new position in shares of Cummins during the 2nd quarter valued at $55,000. Ashton Thomas Securities LLC purchased a new stake in shares of Cummins in the third quarter worth $55,000. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of Cummins by 28.7% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 242 shares of the company’s stock worth $66,000 after acquiring an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

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.