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

Shares of Cummins Inc. (NYSE:CMIGet Rating) have been assigned a consensus rating of “Hold” from the fourteen research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $262.83.

Several equities analysts have commented on CMI shares. Zacks Investment Research downgraded shares of Cummins from a “hold” rating to a “sell” rating and set a $246.00 target price on the stock. in a research report on Monday, January 10th. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research report on Wednesday, March 30th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Cummins from $256.00 to $233.00 and set a “hold” rating on the stock in a research report on Thursday. UBS Group downgraded shares of Cummins from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $214.00 in a research report on Friday, March 18th. Finally, Morgan Stanley lowered their target price on shares of Cummins from $251.00 to $249.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 18th.

NYSE CMI opened at $195.94 on Friday. Cummins has a 1-year low of $189.50 and a 1-year high of $273.65. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $27.84 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.04. The firm’s fifty day simple moving average is $206.53 and its 200-day simple moving average is $220.46.

Cummins (NYSE:CMIGet Rating) last posted its quarterly earnings results on Thursday, February 3rd. The company reported $2.85 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.08 by ($0.23). Cummins had a return on equity of 23.63% and a net margin of 8.87%. The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the company posted $3.36 earnings per share. The company’s revenue was up .3% compared to the same quarter last year. As a group, analysts predict that Cummins will post 17.57 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 3rd. Shareholders of record on Friday, February 18th were issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Thursday, February 17th. Cummins’s dividend payout ratio (DPR) is 39.75%.

In related news, insider Tracy A. Embree sold 1,470 shares of the stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $208.41, for a total value of $306,362.70. Following the completion of the sale, the insider now owns 19,856 shares in the company, valued at $4,138,188.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Christopher C. Clulow sold 285 shares of the firm’s stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $205.04, for a total transaction of $58,436.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,348 shares of company stock valued at $9,180,117. 1.00% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Trustcore Financial Services LLC lifted its stake in Cummins by 500.0% during the third quarter. Trustcore Financial Services LLC now owns 120 shares of the company’s stock worth $27,000 after purchasing an additional 100 shares during the period. Mystic Asset Management Inc. acquired a new stake in shares of Cummins during the fourth quarter worth approximately $27,000. KRS Capital Management LLC acquired a new stake in shares of Cummins during the fourth quarter worth approximately $30,000. Steward Financial Group LLC acquired a new stake in shares of Cummins during the fourth quarter worth approximately $32,000. Finally, Cassady Schiller Wealth Management LLC acquired a new stake in shares of Cummins during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Cummins Company Profile (Get Rating)

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 New Power. 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 new parts and services, as well as remanufactured parts and engines.

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Analyst Recommendations for Cummins (NYSE:CMI)

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