Cummins Inc. (CMI) Receives Average Recommendation of “Hold” from Analysts

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Shares of Cummins Inc. (NYSE:CMI) have earned an average recommendation of “Hold” from the twenty-three brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $160.49.

A number of brokerages recently issued reports on CMI. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $171.00 target price on the stock in a report on Thursday, December 6th. JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $137.00 to $147.00 in a report on Wednesday, October 31st. Robert W. Baird upgraded Cummins from a “neutral” rating to an “outperform” rating and set a $148.40 target price on the stock in a report on Thursday, February 7th. ValuEngine upgraded Cummins from a “strong sell” rating to a “sell” rating in a report on Thursday, November 8th. Finally, Morgan Stanley lowered their price target on Cummins from $165.00 to $151.00 and set a “hold” rating on the stock in a report on Wednesday, October 31st.

In other Cummins news, Director Alexis M. Herman sold 423 shares of the business’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $150.12, for a total value of $63,500.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Norman Thomas Linebarger sold 24,830 shares of the business’s stock in a transaction dated Monday, December 17th. The stock was sold at an average price of $133.19, for a total value of $3,307,107.70. Following the completion of the sale, the chief executive officer now directly owns 84,418 shares of the company’s stock, valued at approximately $11,243,633.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,410 shares of company stock valued at $6,316,413. Insiders own 0.67% of the company’s stock.

Large investors have recently made changes to their positions in the business. Riverview Trust Co acquired a new position in shares of Cummins during the 4th quarter worth about $27,000. Ipswich Investment Management Co. Inc. acquired a new position in shares of Cummins during the 4th quarter worth about $28,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Cummins during the 4th quarter worth about $32,000. Bremer Trust National Association acquired a new position in shares of Cummins during the 4th quarter worth about $35,000. Finally, We Are One Seven LLC acquired a new position in shares of Cummins during the 4th quarter worth about $37,000. 81.02% of the stock is owned by institutional investors.

Shares of CMI traded up $0.55 during midday trading on Tuesday, reaching $156.63. The stock had a trading volume of 340,473 shares, compared to its average volume of 1,253,006. Cummins has a 52 week low of $124.40 and a 52 week high of $173.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.95 and a current ratio of 1.54. The company has a market capitalization of $25.75 billion, a PE ratio of 11.84, a P/E/G ratio of 1.08 and a beta of 1.14.

Cummins (NYSE:CMI) last issued its earnings results on Wednesday, February 6th. The company reported $3.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.81 by ($0.33). The company had revenue of $6.13 billion during the quarter, compared to analyst estimates of $6.08 billion. Cummins had a return on equity of 29.71% and a net margin of 9.01%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.03 earnings per share. On average, equities research analysts forecast that Cummins will post 15.46 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Friday, February 22nd will be given a dividend of $1.14 per share. The ex-dividend date of this dividend is Thursday, February 21st. This represents a $4.56 dividend on an annualized basis and a yield of 2.91%. Cummins’s payout ratio is 34.47%.

About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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Analyst Recommendations for Cummins (NYSE:CMI)

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