Shares of Cummins Inc. (NYSE:CMI) have been given a consensus recommendation of “Hold” by the twenty analysts that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $166.84.

A number of equities analysts recently weighed in on CMI shares. Loop Capital cut Cummins from a “hold” rating to a “sell” rating and dropped their price target for the stock from $168.00 to $145.00 in a research note on Tuesday, July 2nd. Credit Suisse Group lifted their price target on Cummins from $198.00 to $203.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Standpoint Research cut Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. ValuEngine cut Cummins from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Morgan Stanley dropped their price target on Cummins from $167.00 to $162.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st.

CMI traded up $2.47 during trading on Wednesday, reaching $155.61. The company had a trading volume of 451,815 shares, compared to its average volume of 1,273,056. The firm’s 50-day simple moving average is $155.52 and its 200 day simple moving average is $161.31. The company has a market cap of $24.25 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.59 and a beta of 1.14. Cummins has a 12-month low of $124.40 and a 12-month high of $175.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.04 and a current ratio of 1.66.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $4.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.38 by ($0.11). The company had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.36 billion. Cummins had a return on equity of 29.75% and a net margin of 10.74%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.14 EPS. On average, sell-side analysts expect that Cummins will post 15.85 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be paid a dividend of $1.311 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $5.24 annualized dividend and a yield of 3.37%. Cummins’s dividend payout ratio (DPR) is presently 39.61%.

Large investors have recently added to or reduced their stakes in the business. Private Trust Co. NA lifted its holdings in shares of Cummins by 5.2% during the 3rd quarter. Private Trust Co. NA now owns 1,336 shares of the company’s stock valued at $217,000 after buying an additional 66 shares during the last quarter. Landmark Bank lifted its holdings in shares of Cummins by 0.6% during the 3rd quarter. Landmark Bank now owns 12,053 shares of the company’s stock valued at $1,961,000 after buying an additional 66 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Cummins by 31.7% during the 2nd quarter. Assetmark Inc. now owns 291 shares of the company’s stock valued at $50,000 after buying an additional 70 shares during the last quarter. First Hawaiian Bank lifted its holdings in shares of Cummins by 2.4% during the 3rd quarter. First Hawaiian Bank now owns 3,068 shares of the company’s stock valued at $500,000 after buying an additional 71 shares during the last quarter. Finally, Gradient Investments LLC lifted its holdings in shares of Cummins by 102.8% during the 2nd quarter. Gradient Investments LLC now owns 146 shares of the company’s stock valued at $25,000 after buying an additional 74 shares during the last quarter. 82.30% of the stock is currently owned by institutional investors.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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Analyst Recommendations for Cummins (NYSE:CMI)

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