Shares of Cummins Inc. (NYSE:CMI) have earned an average rating of “Hold” from the twenty-five research firms that are currently covering the company. Four equities research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $113.22.
Several research analysts recently issued reports on the company. William Blair set a $110.00 target price on Cummins and gave the company a “hold” rating in a research report on Thursday, September 8th. Jefferies Group lifted their price target on Cummins from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Thursday, September 1st. Standpoint Research lowered Cummins from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. BMO Capital Markets reiterated a “market perform” rating and set a $114.00 price target on shares of Cummins in a report on Monday, September 12th. Finally, Citigroup Inc. lifted their price target on Cummins from $115.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd.
In other news, VP Thaddeus B. Ewald sold 820 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $126.95, for a total value of $104,099.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Marsha L. Hunt sold 500 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $126.26, for a total value of $63,130.00. Following the completion of the transaction, the vice president now owns 2,582 shares of the company’s stock, valued at $326,003.32. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. First Manhattan Co. boosted its position in Cummins by 8.0% in the second quarter. First Manhattan Co. now owns 957 shares of the company’s stock worth $107,000 after buying an additional 71 shares during the last quarter. BlueMountain Capital Management LLC purchased a new position in Cummins during the second quarter worth about $109,000. Signaturefd LLC boosted its position in Cummins by 17.1% in the second quarter. Signaturefd LLC now owns 1,111 shares of the company’s stock worth $125,000 after buying an additional 162 shares during the last quarter. Kanaly Trust Co boosted its position in Cummins by 3.1% in the second quarter. Kanaly Trust Co now owns 1,114 shares of the company’s stock worth $125,000 after buying an additional 34 shares during the last quarter. Finally, FCM Investments TX boosted its position in Cummins by 33.3% in the second quarter. FCM Investments TX now owns 1,200 shares of the company’s stock worth $135,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 81.36% of the company’s stock.
Shares of Cummins (NYSE:CMI) opened at 128.44 on Tuesday. The firm has a market capitalization of $21.58 billion, a price-to-earnings ratio of 17.59 and a beta of 1.46. The stock’s 50 day moving average price is $123.15 and its 200 day moving average price is $117.31. Cummins has a 12-month low of $79.88 and a 12-month high of $130.96.
Cummins (NYSE:CMI) last announced its earnings results on Tuesday, August 2nd. The company reported $2.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.25. The company had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Cummins had a return on equity of 19.48% and a net margin of 6.97%. Cummins’s quarterly revenue was down 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.62 earnings per share. Equities research analysts expect that Cummins will post $8.14 earnings per share for the current year.
Cummins Company Profile
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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