Brokerages Set Cummins Inc. (NYSE:CMI) PT at $271.64

Shares of Cummins Inc. (NYSE:CMI) have been assigned an average rating of “Hold” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Two equities research 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 12 month price objective among analysts that have issued a report on the stock in the last year is $276.10.

A number of research firms have commented on CMI. TheStreet downgraded shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a report on Monday, March 4th. JPMorgan Chase & Co. upped their target price on Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday, March 25th. 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 research note on Friday, January 19th. Finally, TD Cowen lifted their target price on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th.

Insider Buying and Selling at Cummins

In other news, SVP Tony Satterthwaite sold 37,450 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total value of $9,926,122.50. Following the completion of the transaction, the senior vice president now directly owns 73,741 shares in the company, valued at $19,545,052.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Cummins news, CEO Jennifer Rumsey sold 739 shares of Cummins stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $266.91, for a total transaction of $197,246.49. Following the completion of the transaction, the chief executive officer now owns 2,698 shares in the company, valued at approximately $720,123.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Tony Satterthwaite sold 37,450 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $265.05, for a total value of $9,926,122.50. Following the completion of the sale, the senior vice president now owns 73,741 shares in the company, valued at approximately $19,545,052.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,289 shares of company stock worth $13,576,838. 1.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. First Financial Corp IN raised its holdings in Cummins by 78.5% in the 1st quarter. First Financial Corp IN now owns 373 shares of the company’s stock worth $110,000 after purchasing an additional 164 shares during the period. Columbus Macro LLC increased its holdings in Cummins by 222.8% in the 1st quarter. Columbus Macro LLC now owns 2,828 shares of the company’s stock worth $833,000 after acquiring an additional 1,952 shares in the last quarter. Riverview Trust Co purchased a new position in Cummins during the first quarter valued at $78,000. Annex Advisory Services LLC purchased a new stake in shares of Cummins during the first quarter worth about $262,000. Finally, Unison Advisors LLC lifted its position in shares of Cummins by 0.6% in the first quarter. Unison Advisors LLC now owns 10,924 shares of the company’s stock valued at $3,219,000 after acquiring an additional 67 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Down 1.4 %

Shares of NYSE CMI opened at $298.63 on Tuesday. Cummins has a 52-week low of $203.18 and a 52-week high of $304.24. The firm has a market capitalization of $40.84 billion, a price-to-earnings ratio of 57.65, a PEG ratio of 2.06 and a beta of 1.04. The stock has a 50 day moving average price of $275.89 and a 200 day moving average price of $246.28. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.74 and a current ratio of 1.18.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). The firm 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%. Cummins’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.52 earnings per share. Sell-side analysts expect that Cummins will post 18.29 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 23rd were paid a $1.68 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a yield of 2.25%. Cummins’s dividend payout ratio (DPR) is 129.73%.

About Cummins

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.