Cummins Inc. (NYSE:CMI) Given Average 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 presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $386.67.

Several research analysts have recently weighed in on CMI shares. Jefferies Financial Group upped their price target on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. StockNews.com cut Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Evercore ISI increased their target price on Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Truist Financial increased their target price on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, Barclays increased their target price on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th.

Institutional Trading of Cummins

A number of institutional investors have recently modified their holdings of the company. Capital A Wealth Management LLC purchased a new stake in shares of Cummins during the fourth quarter worth about $32,000. Integrated Advisors Network LLC lifted its holdings in Cummins by 3.6% in the fourth quarter. Integrated Advisors Network LLC now owns 1,952 shares of the company’s stock worth $680,000 after buying an additional 68 shares during the period. Cypress Asset Management Inc. TX purchased a new stake in Cummins in the fourth quarter worth about $777,000. Ascent Group LLC lifted its holdings in Cummins by 2.7% in the fourth quarter. Ascent Group LLC now owns 1,417 shares of the company’s stock worth $494,000 after buying an additional 37 shares during the period. Finally, Putney Financial Group LLC purchased a new stake in Cummins in the fourth quarter worth about $82,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Trading Down 0.6 %

Cummins stock opened at $364.35 on Friday. The stock has a market cap of $50.09 billion, a P/E ratio of 12.93, a PEG ratio of 2.19 and a beta of 1.00. Cummins has a fifty-two week low of $260.88 and a fifty-two week high of $387.90. The firm’s fifty day moving average price is $361.99 and its 200-day moving average price is $343.63. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The firm had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.14 earnings per share. Equities research analysts forecast that Cummins will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 21st will be issued a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.00%. Cummins’s dividend payout ratio is currently 25.84%.

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.