Cummins Inc. (NYSE:CMI) Receives $346.00 Consensus Target Price from Brokerages

Cummins Inc. (NYSE:CMI) has earned a consensus rating of “Hold” from the fourteen brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $346.00.

Several analysts have recently commented on CMI shares. Robert W. Baird decreased their price objective on shares of Cummins from $407.00 to $315.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on Cummins from $375.00 to $308.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Barclays upped their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com downgraded Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Finally, Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. KG&L Capital Management LLC raised its position in Cummins by 7.3% during the first quarter. KG&L Capital Management LLC now owns 4,024 shares of the company’s stock valued at $1,254,000 after purchasing an additional 275 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Cummins by 23.6% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 436,624 shares of the company’s stock valued at $136,855,000 after buying an additional 83,283 shares during the period. Perigon Wealth Management LLC lifted its position in Cummins by 0.6% in the first quarter. Perigon Wealth Management LLC now owns 6,588 shares of the company’s stock worth $2,065,000 after buying an additional 42 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in Cummins during the first quarter worth $157,000. Finally, Golden State Wealth Management LLC increased its position in Cummins by 117.5% during the first quarter. Golden State Wealth Management LLC now owns 2,214 shares of the company’s stock valued at $694,000 after acquiring an additional 1,196 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of CMI opened at $284.21 on Friday. The business has a 50-day simple moving average of $321.43 and a two-hundred day simple moving average of $344.24. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Cummins has a 52 week low of $260.02 and a 52 week high of $387.90. The stock has a market cap of $39.15 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 2.19 and a beta of 1.07.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same period in the prior year, the firm posted $4.14 EPS. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts expect that Cummins will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were issued a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.56%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

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.