Cummins Inc. (NYSE:CMI) Receives $363.50 Average PT from Analysts

Cummins Inc. (NYSE:CMI) has earned an average rating of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $363.50.

A number of research firms have recently commented on CMI. Citigroup increased their target price on shares of Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Robert W. Baird raised their price objective on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Jefferies Financial Group raised their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price objective for the company. in a report on Wednesday, November 6th.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 6,489 shares of company stock valued at $2,357,531 in the last quarter. 0.56% of the stock is currently owned by company insiders.

Institutional Trading of Cummins

Several large investors have recently modified their holdings of CMI. Prospera Private Wealth LLC acquired a new stake in shares of Cummins during the 3rd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Cummins during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Cummins during the 3rd quarter worth approximately $55,000. Friedenthal Financial acquired a new stake in Cummins in the 4th quarter valued at $55,000. Finally, Bangor Savings Bank grew its position in Cummins by 24.6% in the 4th quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Up 1.7 %

CMI stock opened at $360.80 on Thursday. The stock has a market capitalization of $49.49 billion, a P/E ratio of 23.83, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cummins has a 12 month low of $226.52 and a 12 month high of $387.90. The firm has a 50-day moving average price of $362.62 and a 200-day moving average price of $325.60.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.73 earnings per share. As a group, equities research analysts anticipate that Cummins will post 20.75 EPS for the current fiscal year.

About Cummins

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.