Cummins Inc. (NYSE:CMI) Given Consensus Rating of “Hold” by Analysts

Shares of Cummins Inc. (NYSE:CMI) have been assigned a consensus rating of “Hold” from the thirteen brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $354.83.

CMI has been the subject of several recent research reports. Morgan Stanley raised their target price on shares of Cummins from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price target on shares of Cummins from $308.00 to $320.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Evercore ISI lifted their price target on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. StockNews.com cut shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Finally, Barclays lifted their price target on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th.

Institutional Trading of Cummins

A number of hedge funds have recently made changes to their positions in the stock. Aptus Capital Advisors LLC raised its position in Cummins by 63.6% during the first quarter. Aptus Capital Advisors LLC now owns 8,295 shares of the company’s stock valued at $2,600,000 after acquiring an additional 3,224 shares in the last quarter. Northern Trust Corp raised its position in Cummins by 1.2% during the first quarter. Northern Trust Corp now owns 1,905,214 shares of the company’s stock valued at $597,170,000 after acquiring an additional 22,202 shares in the last quarter. Brooklyn Investment Group raised its position in Cummins by 34.4% during the first quarter. Brooklyn Investment Group now owns 891 shares of the company’s stock valued at $279,000 after acquiring an additional 228 shares in the last quarter. Versor Investments LP grew its holdings in Cummins by 18.2% during the first quarter. Versor Investments LP now owns 2,600 shares of the company’s stock valued at $815,000 after purchasing an additional 400 shares during the last quarter. Finally, Algert Global LLC acquired a new position in Cummins during the first quarter valued at approximately $323,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Up 1.2%

CMI stock opened at $334.68 on Wednesday. The company has a fifty day moving average of $304.14 and a 200-day moving average of $341.42. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The stock has a market capitalization of $46.10 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. Cummins has a one year low of $260.02 and a one year high of $387.90.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Monday, May 5th. The company reported $5.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.92 by $1.04. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $8.22 billion. During the same quarter last year, the firm posted $5.08 EPS. The business’s revenue was down 2.7% compared to the same quarter last year. As a group, analysts expect that Cummins will post 22.54 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.18%. Cummins’s dividend payout ratio (DPR) is 36.22%.

Cummins Company Profile

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.