Other equities research analysts also recently issued reports about the stock. William Blair set a $110.00 price objective on shares of Cummins and gave the company a hold rating in a research report on Thursday, September 8th. Jefferies Group increased their price objective on shares of Cummins from $115.00 to $120.00 and gave the company a hold rating in a research report on Thursday, September 1st. Standpoint Research downgraded shares of Cummins from a buy rating to a hold rating in a research report on Thursday, July 14th. BMO Capital Markets restated a market perform rating and issued a $114.00 target price on shares of Cummins in a report on Monday, September 12th. Finally, Citigroup Inc. upped their target price on shares of Cummins from $115.00 to $120.00 and gave the company a neutral rating in a report on Wednesday, August 3rd. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $111.35.
Cummins (NYSE:CMI) opened at 128.15 on Friday. Cummins has a one year low of $79.88 and a one year high of $128.60. The stock has a market cap of $21.53 billion, a PE ratio of 17.55 and a beta of 1.46. The company’s 50 day moving average is $122.84 and its 200 day moving average is $116.57.
Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $2.40 EPS for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.25. Cummins had a net margin of 6.97% and a return on equity of 19.48%. The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the prior year, the firm posted $2.62 EPS. The company’s quarterly revenue was down 9.7% compared to the same quarter last year. On average, equities research analysts expect that Cummins will post $8.14 EPS for the current year.
In other Cummins news, insider Jill E. Cook sold 5,981 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $120.20, for a total transaction of $718,916.20. Following the completion of the transaction, the insider now directly owns 24,800 shares in the company, valued at approximately $2,980,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thaddeus B. Ewald sold 820 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $126.95, for a total transaction of $104,099.00. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new position in Cummins during the first quarter valued at $303,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Cummins during the first quarter valued at $1,265,000. Ngam Advisors L.P. increased its position in Cummins by 36.4% in the first quarter. Ngam Advisors L.P. now owns 136,560 shares of the company’s stock valued at $15,013,000 after buying an additional 36,476 shares during the period. TIAA CREF Investment Management LLC increased its position in Cummins by 8.8% in the first quarter. TIAA CREF Investment Management LLC now owns 978,819 shares of the company’s stock valued at $107,611,000 after buying an additional 78,757 shares during the period. Finally, Stratos Wealth Partners LTD. increased its position in Cummins by 0.9% in the first quarter. Stratos Wealth Partners LTD. now owns 8,158 shares of the company’s stock valued at $897,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 81.36% of the company’s stock.
Cummins Inc is a manufacturer of diesel engines. The Company operates through four segments: Engine, Distribution, Components and Power Generation. Its 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, agricultural and governmental equipment markets.
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