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

Shares of Cummins Inc. (NYSE:CMI) 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.

Insider Buying and Selling

In other Cummins news, VP Jeffrey T. Wiltrout bought 282 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average cost of $285.11 per share, with a total value of $80,401.02. Following the completion of the purchase, the vice president now directly owns 1,262 shares of the company’s stock, valued at $359,808.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Jeffrey T. Wiltrout acquired 282 shares of the business’s stock in a transaction on Friday, May 24th. The shares were acquired at an average cost of $285.11 per share, with a total value of $80,401.02. Following the transaction, the vice president now owns 1,262 shares in the company, valued at approximately $359,808.82. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Marvin Boakye acquired 1,745 shares of the business’s stock in a transaction on Monday, May 20th. The shares were purchased at an average cost of $286.04 per share, for a total transaction of $499,139.80. Following the completion of the transaction, the vice president now owns 1,745 shares in the company, valued at approximately $499,139.80. The disclosure for this purchase can be found here. 0.56% of the stock is owned by insiders.

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) 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.