Bank of America Cuts Cummins (NYSE:CMI) Price Target to $600.00

27 Sep 2026, 05:42 by Tristan Rich · The Markets Daily

Cummins (NYSE:CMI – Free Report) had its price objective trimmed by Bank of America from $731.00 to $600.00 in a research report sent to investors on Thursday.

A number of other equities analysts also recently weighed in on the stock. Argus boosted their target price on shares of Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Sanford C. Bernstein reiterated a “market perform” rating and issued a $700.00 price target on shares of Cummins in a research note on Wednesday, August 5th. Zacks Research downgraded shares of Cummins from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. lowered their price objective on shares of Cummins from $690.00 to $600.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Weiss Ratings cut shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 31st. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Cummins currently has an average rating of “Moderate Buy” and an average price target of $736.59.

View Our Latest Analysis on Cummins

Cummins Stock Up 0.8%

CMI stock opened at $525.16 on Thursday. The company has a market cap of $72.29 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 1.42 and a beta of 1.23. Cummins has a twelve month low of $400.72 and a twelve month high of $737.76. The business has a 50 day moving average price of $592.48 and a two-hundred day moving average price of $621.85. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.48.

Cummins (NYSE:CMI – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.21 by ($0.48). The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.33 billion. Cummins had a return on equity of 25.29% and a net margin of 7.82%.The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.43 EPS. Analysts anticipate that Cummins will post 30.13 EPS for the current fiscal year.

Cummins Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st were issued a dividend of $2.20 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $8.80 annualized dividend and a yield of 1.7%. This is a positive change from Cummins’s previous quarterly dividend of $2.00. Cummins’s payout ratio is 44.97%.

Insider Buying and Selling

In other Cummins news, VP Earl Newsome sold 698 shares of Cummins stock in a transaction on Monday, August 24th. The shares were sold at an average price of $572.22, for a total transaction of $399,409.56. Following the completion of the transaction, the vice president directly owned 4,479 shares of the company’s stock, valued at $2,562,973.38. The trade was a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Institutional Trading of Cummins

A number of hedge funds have recently modified their holdings of CMI. QRG Capital Management Inc. lifted its position in Cummins by 112.0% during the second quarter. QRG Capital Management Inc. now owns 120,855 shares of the company’s stock worth $86,195,000 after acquiring an additional 63,839 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Cummins by 376.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 16,857 shares of the company’s stock valued at $12,023,000 after purchasing an additional 13,316 shares during the last quarter. Security National Bank of Sioux City Iowa IA grew its position in shares of Cummins by 15.9% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 6,781 shares of the company’s stock valued at $4,836,000 after purchasing an additional 928 shares during the last quarter. SkyView Investment Advisors LLC increased its stake in shares of Cummins by 14.0% during the second quarter. SkyView Investment Advisors LLC now owns 2,200 shares of the company’s stock worth $1,569,000 after purchasing an additional 271 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Cummins by 20.0% during the second quarter. Sequoia Financial Advisors LLC now owns 7,783 shares of the company’s stock worth $5,551,000 after purchasing an additional 1,296 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

About Cummins

(Get Free Report)

Cummins Inc is a global power and energy technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services engines, powertrains and related technologies for commercial vehicles, industrial equipment, mining, construction, agriculture, marine and other applications.