Cummins Inc. (NYSE:CMI) Given Average Recommendation of “Moderate Buy” by Brokerages

Cummins Inc. (NYSE:CMI) has earned an average recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $520.7857.

CMI has been the topic of several research analyst reports. Zacks Research upgraded Cummins from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Truist Financial lifted their price target on shares of Cummins from $628.00 to $653.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Sanford C. Bernstein restated a “market perform” rating and set a $475.00 price objective on shares of Cummins in a report on Friday, November 7th. UBS Group raised shares of Cummins from a “sell” rating to a “neutral” rating in a research note on Tuesday, November 25th. Finally, Barclays boosted their target price on shares of Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday.

Insider Transactions at Cummins

In other Cummins news, CFO Mark Andrew Smith sold 13,110 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $470.66, for a total transaction of $6,170,352.60. Following the completion of the transaction, the chief financial officer directly owned 31,582 shares of the company’s stock, valued at approximately $14,864,384.12. This represents a 29.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer Rumsey sold 4,570 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $473.89, for a total transaction of $2,165,677.30. Following the transaction, the chief executive officer owned 42,880 shares of the company’s stock, valued at $20,320,403.20. This represents a 9.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 19,330 shares of company stock worth $9,135,364 in the last quarter. Insiders own 0.41% of the company’s stock.

Institutional Trading of Cummins

A number of hedge funds and other institutional investors have recently made changes to their positions in CMI. Thompson Investment Management Inc. bought a new stake in shares of Cummins during the fourth quarter valued at about $26,000. Holos Integrated Wealth LLC bought a new position in shares of Cummins in the fourth quarter worth $32,000. Palouse Capital Management Inc. bought a new stake in Cummins during the fourth quarter valued at $33,000. Flagship Wealth Advisors LLC bought a new position in Cummins in the 3rd quarter worth about $28,000. Finally, Olistico Wealth LLC purchased a new position in shares of Cummins during the fourth quarter worth about $39,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Down 2.0%

Shares of NYSE CMI opened at $571.34 on Monday. Cummins has a 1 year low of $260.02 and a 1 year high of $587.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.77 and a quick ratio of 1.11. The firm has a market cap of $78.87 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12. The company has a 50 day simple moving average of $520.97 and a 200 day simple moving average of $446.25.

Cummins (NYSE:CMI) last released its quarterly earnings results on Thursday, November 6th. The company reported $5.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.76. The firm had revenue of $8.32 billion during the quarter, compared to the consensus estimate of $7.97 billion. Cummins had a net margin of 7.95% and a return on equity of 26.02%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $5.86 earnings per share. On average, research analysts forecast that Cummins will post 22.54 EPS for the current year.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.