Cummins Inc. (NYSE:CMI – Get Free Report) has been assigned an average recommendation of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $295.00.
Several research firms have recently issued reports on CMI. TD Cowen lifted their price target on Cummins from $272.00 to $292.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Truist Financial upped their price target on shares of Cummins from $315.00 to $349.00 and gave the company a “hold” rating in a report on Monday, August 5th. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Robert W. Baird lifted their price objective on Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Citigroup assumed coverage on Cummins in a research report on Wednesday, June 26th. They set a “buy” rating and a $320.00 price target for the company.
Get Our Latest Stock Analysis on Cummins
Insider Buying and Selling
Institutional Trading of Cummins
Hedge funds have recently made changes to their positions in the stock. First United Bank & Trust acquired a new stake in Cummins in the fourth quarter valued at $25,000. Private Wealth Management Group LLC acquired a new stake in shares of Cummins in the 4th quarter valued at about $26,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Cummins during the second quarter worth about $28,000. Cultivar Capital Inc. acquired a new position in Cummins in the second quarter worth about $28,000. Finally, Lynx Investment Advisory bought a new stake in Cummins in the second quarter valued at about $29,000. Institutional investors and hedge funds own 83.46% of the company’s stock.
Cummins Trading Up 0.6 %
Shares of Cummins stock opened at $301.65 on Monday. The company has a 50-day moving average of $283.32 and a two-hundred day moving average of $280.93. Cummins has a 12-month low of $212.80 and a 12-month high of $322.83. The company has a current ratio of 1.34, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. The stock has a market cap of $41.26 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 1.93 and a beta of 0.99.
Cummins (NYSE:CMI – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $5.26 earnings per share for the quarter, beating the consensus estimate of $4.85 by $0.41. The firm had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $8.33 billion. Cummins had a return on equity of 25.73% and a net margin of 5.69%. Cummins’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $5.18 EPS. On average, research analysts anticipate that Cummins will post 18.61 EPS for the current fiscal year.
Cummins Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 23rd will be paid a dividend of $1.82 per share. The ex-dividend date is Friday, August 23rd. This is an increase from Cummins’s previous quarterly dividend of $1.68. This represents a $7.28 annualized dividend and a dividend yield of 2.41%. Cummins’s dividend payout ratio (DPR) is currently 53.29%.
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 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.
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