Shares of Cummins Inc. (NYSE:CMI – Get Rating) have earned an average rating of “Hold” from the ten research firms that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $244.63.
CMI has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 4th. Credit Suisse Group upped their target price on shares of Cummins from $266.00 to $304.00 and gave the stock an “outperform” rating in a research note on Friday, November 4th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cummins from $221.00 to $225.00 and gave the stock a “hold” rating in a research note on Thursday, October 13th. JPMorgan Chase & Co. began coverage on shares of Cummins in a research note on Thursday, August 18th. They set a “neutral” rating on the stock. Finally, UBS Group upped their target price on shares of Cummins to $247.00 in a research note on Wednesday, November 16th.
Insiders Place Their Bets
In other news, Director Leo Allen Bruno V. Di sold 950 shares of the company’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $250.30, for a total value of $237,785.00. Following the completion of the transaction, the director now owns 7,431 shares in the company, valued at approximately $1,859,979.30. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Leo Allen Bruno V. Di sold 950 shares of the company’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $250.30, for a total value of $237,785.00. Following the completion of the transaction, the director now owns 7,431 shares in the company, valued at approximately $1,859,979.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Sharon R. Barner sold 1,060 shares of the company’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $234.86, for a total transaction of $248,951.60. Following the completion of the transaction, the vice president now owns 16,348 shares of the company’s stock, valued at approximately $3,839,491.28. The disclosure for this sale can be found here. Insiders sold 105,348 shares of company stock worth $26,034,039 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Aurora Investment Counsel raised its position in Cummins by 2.1% in the 3rd quarter. Aurora Investment Counsel now owns 9,021 shares of the company’s stock valued at $1,836,000 after purchasing an additional 182 shares during the last quarter. Toroso Investments LLC raised its position in Cummins by 33.1% in the 3rd quarter. Toroso Investments LLC now owns 4,023 shares of the company’s stock valued at $819,000 after purchasing an additional 1,000 shares during the last quarter. IHT Wealth Management LLC raised its position in Cummins by 66.5% in the 3rd quarter. IHT Wealth Management LLC now owns 4,495 shares of the company’s stock valued at $915,000 after purchasing an additional 1,795 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in Cummins by 65.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 9,061 shares of the company’s stock valued at $1,844,000 after purchasing an additional 3,575 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in Cummins in the 3rd quarter valued at $13,852,000. Institutional investors and hedge funds own 80.98% of the company’s stock.
Cummins Price Performance
Cummins stock opened at $250.42 on Friday. The company’s 50 day simple moving average is $228.86 and its 200-day simple moving average is $215.45. The company has a market capitalization of $35.31 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. Cummins has a 1 year low of $184.27 and a 1 year high of $254.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.84 and a current ratio of 1.37.
Cummins (NYSE:CMI – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $3.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.88 by ($1.67). The company had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Cummins had a net margin of 7.32% and a return on equity of 22.48%. As a group, equities research analysts expect that Cummins will post 17.36 earnings per share for the current year.
Cummins Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 18th will be issued a dividend of $1.57 per share. This represents a $6.28 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Thursday, November 17th. Cummins’s dividend payout ratio (DPR) is presently 46.83%.
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 New Power. 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 new parts and services, as well as remanufactured parts and engines.