Cummins Inc. (NYSE:CMI) shares hit a new 52-week high during trading on Friday . The stock traded as high as $187.59 and last traded at $183.72, with a volume of 873600 shares. The stock had previously closed at $183.69.

Several research analysts have recently commented on CMI shares. Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research note on Monday, October 2nd. Argus increased their price target on shares of Cummins from $172.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. BMO Capital Markets increased their price target on shares of Cummins from $185.00 to $190.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 8th. Jefferies Group raised their target price on shares of Cummins from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, November 1st. Finally, Piper Jaffray Companies set a $170.00 target price on shares of Cummins and gave the company a “hold” rating in a research note on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. Cummins presently has a consensus rating of “Hold” and a consensus price target of $180.60.

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.57. The company has a market capitalization of $31,260.00, a P/E ratio of 18.67, a PEG ratio of 1.27 and a beta of 1.14.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.24. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $4.79 billion. During the same period in the prior year, the firm earned $2.02 EPS. The business’s revenue was up 26.2% on a year-over-year basis. research analysts expect that Cummins Inc. will post 10.21 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System boosted its holdings in Cummins by 1.6% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 229,821 shares of the company’s stock valued at $38,617,000 after purchasing an additional 3,700 shares during the period. Kirr Marbach & Co. LLC IN bought a new stake in Cummins in the 3rd quarter valued at $255,000. Boston Partners bought a new stake in Cummins in the 3rd quarter valued at $416,229,000. FDx Advisors Inc. bought a new stake in Cummins in the 3rd quarter valued at $685,000. Finally, Valeo Financial Advisors LLC bought a new stake in Cummins in the 3rd quarter valued at $1,195,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

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Cummins Company Profile

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.

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