Shares of Cummins Inc. (NYSE:CMI – Get Free Report) have been assigned an average rating of “Hold” from the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $287.18.
A number of equities research analysts have weighed in on CMI shares. JPMorgan Chase & Co. raised their price target on Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research report on Monday, March 25th. The Goldman Sachs Group raised their price target on Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. TD Cowen raised their price target on Cummins from $272.00 to $292.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Truist Financial lowered their price target on Cummins from $319.00 to $315.00 and set a “hold” rating on the stock in a research report on Tuesday, July 2nd. Finally, StockNews.com upgraded Cummins from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th.
Read Our Latest Analysis on CMI
Insider Buying and Selling
Institutional Trading of Cummins
Large investors have recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. bought a new stake in Cummins during the 2nd quarter valued at approximately $28,000. First United Bank & Trust bought a new stake in Cummins during the 4th quarter valued at approximately $25,000. Lynx Investment Advisory purchased a new position in shares of Cummins during the second quarter valued at approximately $29,000. LRI Investments LLC purchased a new position in shares of Cummins during the first quarter valued at approximately $31,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Cummins during the fourth quarter valued at approximately $26,000. 83.46% of the stock is owned by institutional investors.
Cummins Trading Up 0.3 %
Shares of CMI stock opened at $292.04 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.34. Cummins has a 52-week low of $212.80 and a 52-week high of $304.24. The company has a market capitalization of $39.95 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 1.84 and a beta of 0.99. The business’s fifty day moving average is $279.69 and its 200 day moving average is $273.66.
Cummins (NYSE:CMI – Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $5.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.11 by ($0.01). Cummins had a return on equity of 25.38% and a net margin of 5.70%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.36 billion. On average, equities research analysts anticipate that Cummins will post 18.61 EPS for the current fiscal year.
Cummins Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 23rd will be paid a $1.82 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This is a boost from Cummins’s previous quarterly dividend of $1.68. This represents a $7.28 annualized dividend and a dividend yield of 2.49%. Cummins’s dividend payout ratio (DPR) is presently 49.19%.
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.
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