Cummins Inc. (NYSE:CMI) Given Consensus Recommendation of “Hold” by Brokerages

Cummins Inc. (NYSE:CMI) has received a consensus recommendation of “Hold” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $276.10.

Several analysts have recently issued reports on CMI shares. JPMorgan Chase & Co. upped their price objective on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday, March 25th. Truist Financial started coverage on Cummins in a report on Thursday, March 14th. They set a “hold” rating and a $303.00 price objective on the stock. Citigroup upped their price objective on Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Bank of America cut Cummins from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $243.00 to $225.00 in a report on Friday, January 19th. Finally, Evercore ISI upped their price objective on Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th.

Insider Buying and Selling at Cummins

In other Cummins news, CEO Jennifer Rumsey sold 739 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $266.91, for a total value of $197,246.49. Following the transaction, the chief executive officer now owns 2,698 shares of the company’s stock, valued at approximately $720,123.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cummins news, VP Sharon R. Barner sold 11,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total value of $2,883,760.00. Following the transaction, the vice president now owns 17,874 shares of the company’s stock, valued at approximately $4,685,847.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer Rumsey sold 739 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $266.91, for a total value of $197,246.49. Following the transaction, the chief executive officer now directly owns 2,698 shares in the company, valued at approximately $720,123.18. The disclosure for this sale can be found here. Insiders have sold 51,289 shares of company stock valued at $13,576,838 in the last quarter. 0.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Cummins

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bison Wealth LLC grew its position in shares of Cummins by 3.6% during the 4th quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock worth $293,000 after buying an additional 42 shares in the last quarter. KB Financial Partners LLC grew its position in shares of Cummins by 1.3% during the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock worth $819,000 after buying an additional 45 shares in the last quarter. Edmp Inc. grew its position in shares of Cummins by 0.8% during the 4th quarter. Edmp Inc. now owns 5,560 shares of the company’s stock worth $1,332,000 after buying an additional 46 shares in the last quarter. Stephens Inc. AR grew its position in shares of Cummins by 3.3% during the 4th quarter. Stephens Inc. AR now owns 1,459 shares of the company’s stock worth $350,000 after buying an additional 47 shares in the last quarter. Finally, Columbia Trust Co 01012016 grew its position in shares of Cummins by 1.2% during the 3rd quarter. Columbia Trust Co 01012016 now owns 4,156 shares of the company’s stock worth $949,000 after buying an additional 48 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 1.0 %

NYSE CMI opened at $295.78 on Tuesday. The stock’s 50 day moving average is $276.99 and its 200 day moving average is $246.85. The company has a current ratio of 1.18, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48. Cummins has a 12 month low of $203.18 and a 12 month high of $304.24. The stock has a market cap of $40.45 billion, a PE ratio of 57.10, a P/E/G ratio of 2.03 and a beta of 1.04.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $4.52 earnings per share. Research analysts predict that Cummins will post 18.29 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were given a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.27%. The ex-dividend date was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers 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; and offers parts and services, as well as remanufactured parts and engines.