Cummins Inc. (NYSE:CMI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Cummins Inc. (NYSE:CMI) have earned a consensus rating of “Moderate Buy” from the eighteen brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $428.9286.

A number of research analysts recently weighed in on the stock. Zacks Research cut shares of Cummins from a “strong-buy” rating to a “hold” rating in a report on Thursday. Sanford C. Bernstein reissued a “market perform” rating and set a $475.00 target price on shares of Cummins in a research report on Friday. Evercore ISI restated an “outperform” rating on shares of Cummins in a report on Tuesday, August 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cummins in a research report on Wednesday. Finally, Wolfe Research upgraded shares of Cummins from a “hold” rating to an “outperform” rating in a research note on Monday, August 11th.

Cummins Stock Performance

Shares of CMI stock opened at $474.10 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.03 and a current ratio of 1.64. The firm has a market cap of $65.32 billion, a P/E ratio of 22.29, a P/E/G ratio of 2.05 and a beta of 1.07. The firm’s 50 day moving average price is $420.80 and its 200-day moving average price is $369.77. Cummins has a one year low of $260.02 and a one year high of $482.53.

Cummins (NYSE:CMI) last released its earnings results on Thursday, November 6th. The company reported $5.59 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.76. The company had revenue of $8.32 billion during the quarter, compared to the consensus estimate of $7.97 billion. Cummins had a return on equity of 26.96% and a net margin of 8.72%.Cummins’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $5.86 EPS. As a group, equities research analysts predict that Cummins will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, November 21st will be paid a $2.00 dividend. The ex-dividend date is Friday, November 21st. This represents a $8.00 annualized dividend and a dividend yield of 1.7%. Cummins’s dividend payout ratio (DPR) is 41.52%.

Insider Transactions at Cummins

In other Cummins news, VP Amy Rochelle Davis sold 5,002 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $402.88, for a total value of $2,015,205.76. Following the sale, the vice president owned 20,738 shares of the company’s stock, valued at approximately $8,354,925.44. This represents a 19.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert Enright sold 1,860 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $402.26, for a total transaction of $748,203.60. Following the completion of the sale, the vice president directly owned 955 shares in the company, valued at $384,158.30. This trade represents a 66.07% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 37,949 shares of company stock worth $15,674,705. 0.41% of the stock is currently owned by insiders.

Institutional Trading of Cummins

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after purchasing an additional 83 shares during the period. World Investment Advisors boosted its position in shares of Cummins by 157.6% in the first quarter. World Investment Advisors now owns 2,280 shares of the company’s stock worth $715,000 after buying an additional 1,395 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Cummins by 15.0% in the first quarter. Envestnet Asset Management Inc. now owns 770,571 shares of the company’s stock valued at $241,528,000 after buying an additional 100,313 shares in the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Cummins by 4,533.3% during the 1st quarter. Raleigh Capital Management Inc. now owns 834 shares of the company’s stock valued at $261,000 after buying an additional 816 shares during the period. Finally, U.S. Capital Wealth Advisors LLC lifted its position in Cummins by 8.1% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 8,109 shares of the company’s stock worth $2,542,000 after acquiring an additional 610 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors and hedge funds.

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.