Cummins Inc. (NYSE:CMI)‘s stock had its “sell” rating restated by Deutsche Bank AG in a research note issued to investors on Monday. They currently have a $159.00 target price on the stock, up from their prior target price of $147.00. Deutsche Bank AG’s price target would indicate a potential downside of 7.42% from the company’s current price.
CMI has been the subject of a number of other reports. Zacks Investment Research lowered Cummins from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Jefferies Group LLC reiterated a “hold” rating and set a $165.00 price target on shares of Cummins in a report on Thursday, September 7th. ValuEngine lowered Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Piper Jaffray Companies reiterated a “hold” rating and set a $159.00 price target on shares of Cummins in a report on Tuesday, September 12th. Finally, Goldman Sachs Group, Inc. (The) lowered Cummins from a “conviction-buy” rating to a “buy” rating and set a $192.00 price target for the company. in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $164.52.
Cummins (NYSE CMI) traded down 0.21% during mid-day trading on Monday, hitting $171.74. 688,702 shares of the stock were exchanged. The company has a 50 day moving average price of $162.87 and a 200 day moving average price of $158.49. The stock has a market cap of $28.68 billion, a price-to-earnings ratio of 19.41 and a beta of 1.13. Cummins has a 52 week low of $121.22 and a 52 week high of $172.74.
Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.05). Cummins had a return on equity of 20.67% and a net margin of 8.10%. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the firm earned $2.40 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Analysts expect that Cummins will post $7.98 EPS for the current fiscal year.
In other Cummins news, Director Franklin R. Changdiaz sold 1,633 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $159.27, for a total value of $260,087.91. Following the sale, the director now directly owns 5,814 shares in the company, valued at $925,995.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tony Satterthwaite sold 4,000 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $169.00, for a total value of $676,000.00. Following the completion of the sale, the insider now owns 41,902 shares in the company, valued at $7,081,438. The disclosure for this sale can be found here. Insiders sold 17,633 shares of company stock valued at $2,942,108 over the last 90 days. 0.62% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in CMI. Ingalls & Snyder LLC bought a new stake in Cummins in the first quarter valued at $221,000. Northwestern Mutual Investment Management Company LLC grew its position in Cummins by 76.6% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 31,271 shares of the company’s stock valued at $4,728,000 after acquiring an additional 13,567 shares during the period. Marietta Wealth Management LLC grew its position in Cummins by 1.9% in the first quarter. Marietta Wealth Management LLC now owns 4,073 shares of the company’s stock valued at $616,000 after acquiring an additional 77 shares during the period. Bahl & Gaynor Inc. bought a new stake in Cummins in the first quarter valued at $213,000. Finally, Oxford Asset Management bought a new stake in Cummins in the first quarter valued at $267,000. Hedge funds and other institutional investors own 80.38% of the company’s stock.
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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