Cummins (NYSE:CMI) Upgraded at StockNews.com

StockNews.com upgraded shares of Cummins (NYSE:CMI) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday morning.

CMI has been the subject of a number of other research reports. Truist Financial lifted their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $355.00 to $420.00 in a report on Monday, December 9th. The Goldman Sachs Group lifted their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. Finally, Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and a consensus target price of $374.25.

Cummins Trading Down 0.4 %

NYSE CMI opened at $367.45 on Wednesday. Cummins has a one year low of $236.00 and a one year high of $387.90. The company’s 50 day moving average price is $363.83 and its 200 day moving average price is $330.09. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The firm has a market capitalization of $50.41 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. Cummins’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.73 earnings per share. On average, sell-side analysts predict that Cummins will post 21.92 EPS for the current year.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 6,489 shares of company stock valued at $2,357,531. 0.56% of the stock is currently owned by company insiders.

Institutional Trading of Cummins

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMI. Global Trust Asset Management LLC boosted its holdings in Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Cummins during the 3rd quarter valued at about $32,000. Kathleen S. Wright Associates Inc. bought a new stake in Cummins in the 3rd quarter valued at approximately $34,000. Friedenthal Financial bought a new stake in Cummins in the 4th quarter valued at approximately $55,000. Finally, Ashton Thomas Securities LLC bought a new stake in Cummins in the 3rd quarter valued at approximately $55,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

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.