Shares of Cummins Inc. (NYSE:CMI – Get Free Report) 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.
Get Our Latest Research Report on Cummins
Insiders Place Their Bets
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 – Get Free Report) 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.
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