Shares of Cummins Inc. (NYSE:CMI – Get Free Report) 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.
View Our Latest Research Report on CMI
Insider Buying and Selling at Cummins
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 – Get Free Report) 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.
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