Vetr downgraded shares of Cummins Inc. (NYSE:CMI) from a buy rating to a hold rating in a research report released on Tuesday. They currently have $142.84 target price on the stock.

Several other equities research analysts also recently commented on CMI. Citigroup Inc. upped their price target on shares of Cummins from $115.00 to $120.00 and gave the company a neutral rating in a research report on Wednesday, August 3rd. Jefferies Group upped their price target on shares of Cummins from $115.00 to $120.00 and gave the company a hold rating in a research report on Thursday, September 1st. Deutsche Bank AG started coverage on shares of Cummins in a research report on Tuesday, September 6th. They issued a sell rating and a $111.00 price target for the company. William Blair set a $110.00 price target on shares of Cummins and gave the company a hold rating in a research report on Thursday, September 8th. Finally, BMO Capital Markets reiterated a market perform rating and issued a $114.00 target price on shares of Cummins in a research report on Monday, September 12th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $118.99.

Analyst Recommendations for Cummins (NYSE:CMI)

Cummins (NYSE:CMI) opened at 141.12 on Tuesday. The firm has a 50-day moving average of $129.59 and a 200-day moving average of $121.33. Cummins has a one year low of $79.88 and a one year high of $141.65. The firm has a market cap of $23.65 billion, a price-to-earnings ratio of 20.51 and a beta of 1.32.

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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 21st will be given a $1.025 dividend. This represents a $4.10 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, November 17th. This is a boost from Cummins’s previous quarterly dividend of $0.98. Cummins’s dividend payout ratio (DPR) is presently 59.33%.

In other Cummins news, VP Marsha L. Hunt sold 5,910 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $128.10, for a total value of $757,071.00. Following the completion of the sale, the vice president now owns 4,382 shares in the company, valued at approximately $561,334.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Marya M. Rose sold 5,450 shares of Cummins stock in a transaction that occurred 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 sale, the chief accounting officer now owns 20,193 shares of the company’s stock, valued at approximately $2,754,325.20. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of CMI. First Manhattan Co. boosted its stake in shares of Cummins by 8.0% in the second quarter. First Manhattan Co. now owns 957 shares of the company’s stock valued at $107,000 after buying an additional 71 shares in the last quarter. BlueMountain Capital Management LLC acquired a new stake in shares of Cummins during the second quarter valued at approximately $109,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Cummins during the third quarter valued at approximately $114,000. Penserra Capital Management LLC boosted its stake in shares of Cummins by 100.0% in the third quarter. Penserra Capital Management LLC now owns 972 shares of the company’s stock valued at $124,000 after buying an additional 486 shares in the last quarter. Finally, Kanaly Trust Co boosted its stake in shares of Cummins by 3.1% in the second quarter. Kanaly Trust Co now owns 1,114 shares of the company’s stock valued at $125,000 after buying an additional 34 shares in the last quarter. Institutional investors own 82.75% of the company’s stock.

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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.

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