Vetr downgraded shares of Cummins Inc. (NYSE:CMI) from a buy rating to a hold rating in a research note published on Wednesday. Vetr currently has $142.84 price target on the stock.

Other equities analysts also recently issued research reports about the stock. Goldman Sachs Group Inc. upgraded shares of Cummins from a neutral rating to a buy rating and increased their price target for the company from $134.00 to $162.00 in a report on Tuesday, October 11th. Deutsche Bank AG increased their price target on shares of Cummins from $111.00 to $112.00 and gave the company a sell rating in a report on Wednesday, October 12th. Barclays PLC increased their price target on shares of Cummins from $105.00 to $108.00 and gave the company an underweight rating in a report on Wednesday, October 12th. Jefferies Group increased their price target on shares of Cummins from $115.00 to $120.00 and gave the company a hold rating in a report on Thursday, September 1st. Finally, Evercore ISI upgraded shares of Cummins from a hold rating to a buy rating and increased their price target for the company from $113.00 to $144.00 in a report on Monday, November 7th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have issued a buy rating to the company. Cummins has a consensus rating of Hold and an average target price of $118.99.

Analyst Recommendations for Cummins (NYSE:CMI)

Shares of Cummins (NYSE:CMI) traded up 0.07% during trading on Wednesday, reaching $135.94. 328,083 shares of the company traded hands. Cummins has a 52 week low of $79.88 and a 52 week high of $141.65. The company has a market capitalization of $22.78 billion, a price-to-earnings ratio of 19.76 and a beta of 1.32. The firm’s 50 day moving average price is $128.41 and its 200-day moving average price is $120.69.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 1st. The company reported $2.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.06. Cummins had a net margin of 6.62% and a return on equity of 19.47%. The company earned $4.49 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter last year, the business earned $2.14 EPS. The business’s revenue was down 9.4% on a year-over-year basis. Equities analysts anticipate that Cummins will post $8.17 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 21st will be given a dividend of $1.025 per share. This is a boost from Cummins’s previous quarterly dividend of $0.98. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, November 17th. Cummins’s payout ratio is presently 59.33%.

In other news, VP Marsha L. Hunt sold 5,910 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $128.10, for a total transaction of $757,071.00. Following the transaction, the vice president now directly owns 4,382 shares of the company’s stock, valued at $561,334.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Marya M. Rose sold 5,450 shares of the business’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $136.40, for a total transaction of $743,380.00. Following the transaction, the chief accounting officer now directly owns 20,193 shares in the company, valued at $2,754,325.20. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pitcairn Co. boosted its position in Cummins by 0.3% in the second quarter. Pitcairn Co. now owns 2,034 shares of the company’s stock worth $229,000 after buying an additional 7 shares during the last quarter. Lincoln National Corp boosted its position in Cummins by 0.4% in the third quarter. Lincoln National Corp now owns 5,328 shares of the company’s stock worth $683,000 after buying an additional 19 shares during the last quarter. Blue Chip Partners Inc. raised its stake in shares of Cummins by 0.8% in the second quarter. Blue Chip Partners Inc. now owns 2,745 shares of the company’s stock worth $309,000 after buying an additional 23 shares during the period. San Francisco Sentry Investment Group CA raised its stake in shares of Cummins by 1.0% in the second quarter. San Francisco Sentry Investment Group CA now owns 2,576 shares of the company’s stock worth $290,000 after buying an additional 25 shares during the period. Finally, Burnham Asset Management Corp NY raised its stake in shares of Cummins by 0.6% in the second quarter. Burnham Asset Management Corp NY now owns 3,985 shares of the company’s stock worth $448,000 after buying an additional 25 shares during the period. 81.94% of the stock is currently owned by institutional investors and hedge funds.

About Cummins

Cummins Inc is a manufacturer of diesel engines. The Company operates through four segments: Engine, Distribution, Components and Power Generation. Its Engine segment manufactures and markets a range of diesel and natural gas-powered engines under the Cummins brand name, as well as certain customer brand names for the heavy-and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive, agricultural and governmental equipment markets.

5 Day Chart for NYSE:CMI

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