Cummins Inc. (NYSE:CMI) had its price target raised by stock analysts at Stifel Nicolaus from $160.00 to $168.00 in a report issued on Wednesday, MarketBeat.com reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 5.12% from the stock’s previous close.

Several other research firms have also commented on CMI. ValuEngine lowered shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Piper Jaffray Companies reissued a “hold” rating and set a $161.00 price objective on shares of Cummins in a research note on Wednesday, July 12th. Royal Bank Of Canada reissued a “hold” rating and set a $166.00 price objective on shares of Cummins in a research note on Wednesday, July 12th. Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Cummins in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. Cummins currently has an average rating of “Hold” and an average price target of $154.33.

Shares of Cummins (NYSE:CMI) traded down 0.13% on Wednesday, hitting $159.82. 1,294,751 shares of the stock traded hands. Cummins has a 52 week low of $116.03 and a 52 week high of $170.68. The firm has a market cap of $26.69 billion, a P/E ratio of 18.06 and a beta of 1.09. The stock has a 50-day moving average price of $163.10 and a 200 day moving average price of $154.60.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.58 by $0.05. Cummins had a return on equity of 20.67% and a net margin of 8.10%. The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the previous year, the firm earned $2.40 EPS. The company’s revenue was up 12.1% on a year-over-year basis. Equities research analysts predict that Cummins will post $7.98 EPS for the current fiscal year.

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In other news, Director Georgia R. Nelson sold 1,086 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $156.10, for a total transaction of $169,524.60. Following the completion of the transaction, the director now directly owns 16,512 shares of the company’s stock, valued at $2,577,523.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Anant Talaulicar sold 1,650 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $157.50, for a total transaction of $259,875.00. Following the transaction, the vice president now directly owns 13,029 shares of the company’s stock, valued at $2,052,067.50. The disclosure for this sale can be found here. Insiders have sold 60,636 shares of company stock valued at $10,000,575 over the last three months. 0.62% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gulf International Bank UK Ltd increased its position in shares of Cummins by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 51,801 shares of the company’s stock valued at $7,832,000 after buying an additional 500 shares during the period. Honkamp Krueger Financial Services Inc. increased its position in shares of Cummins by 4.9% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 2,974 shares of the company’s stock valued at $450,000 after buying an additional 138 shares during the period. Bank of Montreal Can increased its position in shares of Cummins by 45.3% in the first quarter. Bank of Montreal Can now owns 911,086 shares of the company’s stock valued at $137,758,000 after buying an additional 284,091 shares during the period. Baker Boyer National Bank increased its position in shares of Cummins by 7.3% in the first quarter. Baker Boyer National Bank now owns 4,400 shares of the company’s stock valued at $665,000 after buying an additional 300 shares during the period. Finally, Stillwater Investment Management LLC increased its position in shares of Cummins by 0.4% in the first quarter. Stillwater Investment Management LLC now owns 11,909 shares of the company’s stock valued at $1,801,000 after buying an additional 45 shares during the period. 80.34% of the stock is owned by hedge funds and other institutional investors.

About Cummins

Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The 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 and agricultural markets.

Analyst Recommendations for Cummins (NYSE:CMI)

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