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

by · The Cerbat Gem

Shares of Cummins Inc. (NYSE:CMI – Get Free Report) have received an average recommendation of “Moderate Buy” from the nineteen brokerages that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $492.75.

CMI has been the topic of a number of recent analyst reports. Sanford C. Bernstein reissued a “market perform” rating and issued a $475.00 price target on shares of Cummins in a research report on Friday, November 7th. Raymond James Financial upgraded shares of Cummins from a “market perform” rating to an “outperform” rating and set a $585.00 price target on the stock in a research note on Monday, December 22nd. Melius Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $500.00 price objective for the company in a research note on Wednesday, September 3rd. Wall Street Zen raised shares of Cummins from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Finally, Zacks Research raised shares of Cummins from a “hold” rating to a “strong-buy” rating in a research report on Tuesday.

View Our Latest Stock Report on Cummins

Cummins Stock Down 0.6%

CMI opened at $510.66 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.77. The company has a market cap of $70.49 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.02 and a beta of 1.11. Cummins has a 1 year low of $260.02 and a 1 year high of $526.50. The firm has a 50 day moving average price of $483.44 and a 200 day moving average price of $417.66.

Cummins (NYSE:CMI – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported $5.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.76. The business had revenue of $8.32 billion during the quarter, compared to analyst estimates of $7.97 billion. Cummins had a return on equity of 26.02% and a net margin of 7.95%.The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.86 EPS. Sell-side analysts expect that Cummins will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Friday, November 21st were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, November 21st. Cummins’s dividend payout ratio (DPR) is 41.52%.

Insider Activity at Cummins

In other news, CEO Jennifer Rumsey sold 4,570 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $473.89, for a total value of $2,165,677.30. Following the sale, the chief executive officer owned 42,880 shares in the company, valued at approximately $20,320,403.20. The trade was a 9.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Andrew Smith sold 13,110 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $470.66, for a total transaction of $6,170,352.60. Following the sale, the chief financial officer owned 31,582 shares of the company’s stock, valued at $14,864,384.12. This trade represents a 29.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,330 shares of company stock valued at $12,649,764 in the last 90 days. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of Cummins

Large investors have recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Cummins in the 3rd quarter worth approximately $28,000. Salomon & Ludwin LLC raised its position in Cummins by 1,333.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock valued at $37,000 after purchasing an additional 80 shares during the last quarter. Guerra Advisors Inc acquired a new position in Cummins in the third quarter worth $36,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cummins during the third quarter worth $37,000. Finally, Tripletail Wealth Management LLC acquired a new stake in shares of Cummins in the third quarter valued at $39,000. 83.46% of the stock is owned by institutional investors.

Cummins Company Profile

(Get Free Report)

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.

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