Cummins (NYSE:CMI) Price Target Raised to $761.00

Cummins (NYSE:CMI) had its target price upped by Morgan Stanley from $752.00 to $761.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Citigroup increased their price target on shares of Cummins from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Zacks Research downgraded Cummins from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Evercore reiterated an “outperform” rating and issued a $845.00 price objective on shares of Cummins in a research note on Monday, May 11th. UBS Group reissued a “buy” rating on shares of Cummins in a report on Wednesday, June 17th. Finally, Barclays raised their target price on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cummins presently has an average rating of “Moderate Buy” and an average target price of $740.07.

Cummins Trading Down 0.1%

Shares of Cummins stock opened at $647.67 on Friday. Cummins has a 52-week low of $344.02 and a 52-week high of $737.76. The firm has a market capitalization of $89.37 billion, a PE ratio of 33.61, a price-to-earnings-growth ratio of 1.58 and a beta of 1.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. The company’s fifty day moving average price is $677.02 and its two-hundred day moving average price is $614.96.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period last year, the firm earned $5.96 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts expect that Cummins will post 29.34 EPS for the current year.

Cummins Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be issued a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $8.80 annualized dividend and a yield of 1.4%. This is an increase from Cummins’s previous quarterly dividend of $2.00. Cummins’s payout ratio is 41.52%.

Insider Transactions at Cummins

In other Cummins news, VP Donald G. Jackson sold 730 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $710.92, for a total transaction of $518,971.60. Following the sale, the vice president directly owned 8,316 shares of the company’s stock, valued at approximately $5,912,010.72. This represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer Mary Bush sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the sale, the vice president directly owned 11,986 shares of the company’s stock, valued at approximately $8,344,773.06. The trade was a 29.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 13,579 shares of company stock valued at $9,377,684. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cummins

A number of hedge funds and other institutional investors have recently bought and sold shares of CMI. Elevation Wealth Partners LLC raised its position in Cummins by 91.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 46 shares of the company’s stock valued at $33,000 after purchasing an additional 22 shares during the last quarter. Cedar Mountain Advisors LLC grew its holdings in shares of Cummins by 1,500.0% during the first quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock worth $26,000 after purchasing an additional 45 shares during the last quarter. Thompson Investment Management Inc. bought a new stake in shares of Cummins during the fourth quarter worth $26,000. Activest Wealth Management increased its stake in shares of Cummins by 537.5% in the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after buying an additional 43 shares in the last quarter. Finally, Wellington Shields Capital Management LLC bought a new position in shares of Cummins in the fourth quarter valued at about $27,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Cummins

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Morgan Stanley boosted its price target on Cummins and kept an overweight rating, signaling confidence in further upside. Benzinga
• Neutral Sentiment: Zacks Research slightly raised its Q3 2027 EPS estimate for Cummins to $9.02 from $9.00, a small change that suggests stable longer-term expectations. Article
• Neutral Sentiment: Other Zacks revisions were mixed but generally small, with slight cuts to some FY2027/FY2028 estimates and a continued Hold rating, suggesting analysts are not seeing a major near-term change in fundamentals. Article

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.