Cummins (NYSE:CMI) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Cummins (NYSE:CMI) from a strong-buy rating to a buy rating in a report published on Tuesday.

Several other research firms have also recently weighed in on CMI. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $294.00 to $408.00 in a research note on Wednesday, November 13th. Jefferies Financial Group upped their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a research note on Wednesday, November 6th. Truist Financial increased their price target on Cummins from $369.00 to $424.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group increased their price target on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $374.17.

Cummins Stock Up 0.8 %

NYSE CMI opened at $364.06 on Tuesday. The business has a fifty day moving average price of $362.81 and a two-hundred day moving average price of $326.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins has a fifty-two week low of $226.52 and a fifty-two week high of $387.90. The stock has a market capitalization of $49.94 billion, a PE ratio of 24.05, a PEG ratio of 1.78 and a beta of 0.99.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the company earned $4.73 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. Equities analysts expect that Cummins will post 20.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the transaction, the vice president now directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 6,489 shares of company stock valued at $2,357,531 in the last three months. Insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. PFG Investments LLC grew its holdings in Cummins by 27.7% during the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after acquiring an additional 485 shares during the period. CWM LLC grew its holdings in Cummins by 17.4% during the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after acquiring an additional 1,786 shares during the period. Distillate Capital Partners LLC grew its holdings in Cummins by 109,309.3% during the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock worth $16,361,000 after acquiring an additional 59,027 shares during the period. Alpha DNA Investment Management LLC acquired a new stake in Cummins during the 3rd quarter worth about $748,000. Finally, Franklin Resources Inc. grew its holdings in Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after acquiring an additional 99,464 shares during the period. 83.46% of the stock is owned by institutional investors.

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.