Cummins Inc. (NYSE:CMI) Given Average Recommendation of “Moderate Buy” by Brokerages

Cummins Inc. (NYSE:CMI) has received an average recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $513.0667.

A number of research analysts have recently commented on the stock. Wells Fargo & Company started coverage on shares of Cummins in a report on Thursday, November 13th. They issued an “overweight” rating and a $599.00 target price for the company. Argus increased their price objective on shares of Cummins from $459.00 to $573.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Zacks Research upgraded shares of Cummins from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. JPMorgan Chase & Co. upped their price target on shares of Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Barclays reiterated a “positive” rating on shares of Cummins in a research note on Friday, December 19th.

Insider Buying and Selling at Cummins

In other Cummins news, CFO Mark Andrew Smith sold 13,110 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $470.66, for a total value of $6,170,352.60. Following the completion of the transaction, the chief financial officer directly owned 31,582 shares in the company, valued at approximately $14,864,384.12. This represents a 29.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Rumsey sold 4,570 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $473.89, for a total value of $2,165,677.30. Following the transaction, the chief executive officer directly owned 42,880 shares of the company’s stock, valued at approximately $20,320,403.20. This represents a 9.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 19,330 shares of company stock worth $9,135,364. 0.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cummins

Several large investors have recently modified their holdings of the company. Trust Co. of Vermont boosted its position in Cummins by 5.6% during the fourth quarter. Trust Co. of Vermont now owns 15,895 shares of the company’s stock valued at $8,114,000 after acquiring an additional 839 shares during the last quarter. Oldfather Financial Services LLC bought a new position in shares of Cummins in the 4th quarter worth about $215,000. Legacy Capital Wealth Partners LLC acquired a new position in shares of Cummins in the 4th quarter valued at about $220,000. CRA Financial Services LLC boosted its position in shares of Cummins by 4.0% during the 4th quarter. CRA Financial Services LLC now owns 707 shares of the company’s stock valued at $361,000 after purchasing an additional 27 shares in the last quarter. Finally, Frank Rimerman Advisors LLC grew its stake in Cummins by 0.5% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock worth $1,908,000 after purchasing an additional 18 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Trading Up 0.9%

Shares of CMI stock opened at $580.15 on Monday. The stock’s fifty day moving average price is $510.68 and its two-hundred day moving average price is $437.61. The company has a market cap of $80.08 billion, a PE ratio of 30.11, a P/E/G ratio of 2.02 and a beta of 1.12. Cummins has a fifty-two week low of $260.02 and a fifty-two week high of $583.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.77.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Thursday, November 6th. The company reported $5.59 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.76. The company had revenue of $8.32 billion during the quarter, compared to analysts’ expectations of $7.97 billion. Cummins had a return on equity of 26.02% and a net margin of 7.95%.Cummins’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.86 EPS. Equities analysts predict that Cummins will post 22.54 EPS for the current fiscal year.

About Cummins

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.