Cummins Inc. (NYSE:CMI) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Cummins Inc. (NYSE:CMI) have received an average rating of “Moderate Buy” from the sixteen research firms that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $731.8571.

A number of research analysts have issued reports on the company. Evercore reiterated an “outperform” rating and issued a $845.00 target price on shares of Cummins in a research report on Monday, May 11th. Truist Financial set a $815.00 target price on Cummins in a research report on Wednesday, May 6th. Wells Fargo & Company lifted their target price on Cummins from $794.00 to $874.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. Raymond James Financial lifted their target price on Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. Finally, Citigroup lifted their target price on Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th.

Insider Activity at Cummins

In other news, VP Nathan R. Stoner sold 607 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $694.06, for a total transaction of $421,294.42. Following the sale, the vice president directly owned 9,447 shares in the company, valued at approximately $6,556,784.82. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Bonnie J. Fetch sold 652 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $700.19, for a total value of $456,523.88. Following the sale, the executive vice president owned 11,679 shares in the company, valued at approximately $8,177,519.01. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 13,579 shares of company stock valued at $9,377,684. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of Cummins

Several hedge funds and other institutional investors have recently made changes to their positions in CMI. Brighton Jones LLC grew its holdings in shares of Cummins by 4.1% during the fourth 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 last quarter. Intech Investment Management LLC grew its holdings in shares of Cummins by 40.8% during the first quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock worth $1,240,000 after purchasing an additional 1,146 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Cummins by 2.8% during the second quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock worth $21,055,000 after purchasing an additional 1,759 shares during the last quarter. ICW Investment Advisors LLC bought a new stake in Cummins in the second quarter valued at approximately $225,000. Finally, Osterweis Capital Management Inc. bought a new stake in Cummins in the second quarter valued at approximately $31,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Performance

Cummins stock opened at $724.23 on Thursday. Cummins has a 12-month low of $307.90 and a 12-month high of $737.76. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $665.26 and its two-hundred day moving average price is $592.91. The stock has a market cap of $99.94 billion, a PE ratio of 37.58, a P/E/G ratio of 1.74 and a beta of 1.23.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter in the previous year, the business posted $5.96 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts expect that Cummins will post 29.44 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, May 22nd. Cummins’s payout ratio is 41.52%.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.