Cummins Inc. (NYSE:CMI) Receives Average Rating of “Hold” from Analysts

Cummins Inc. (NYSE:CMI) has earned a consensus rating of “Hold” from the thirteen analysts that are presently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $374.17.

CMI has been the subject of several research analyst reports. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Truist Financial upped their price target on Cummins from $369.00 to $424.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Citigroup lowered their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday. Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and increased their price target for the company from $354.00 to $358.00 in a report on Tuesday. Finally, StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

Cummins Trading Down 0.9 %

Shares of CMI stock opened at $360.80 on Thursday. The business’s 50 day moving average is $362.81 and its two-hundred day moving average is $326.21. 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 has a 12 month low of $226.52 and a 12 month high of $387.90. The company has a market cap of $49.49 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter last year, the firm posted $4.73 EPS. The business’s quarterly revenue was up .3% on a year-over-year basis. Equities analysts predict that Cummins will post 20.75 EPS for the current year.

Insiders Place Their Bets

In other Cummins news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,427,503.12. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 over the last quarter. Company insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Cummins

Several institutional investors and hedge funds have recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in shares of Cummins during the 3rd quarter worth about $32,000. Kathleen S. Wright Associates Inc. bought a new stake in Cummins during the third quarter worth about $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cummins during the third quarter worth approximately $55,000. Friedenthal Financial bought a new position in shares of Cummins in the fourth quarter valued at approximately $55,000. Finally, Bangor Savings Bank boosted its holdings in shares of Cummins by 24.6% in the 4th quarter. Bangor Savings Bank now owns 177 shares of the company’s stock worth $62,000 after acquiring an additional 35 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

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.