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

Shares of Cummins Inc. (NYSE:CMI) have been given a consensus rating of “Moderate Buy” by the seventeen research firms that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $588.9333.

A number of research analysts have commented on the stock. UBS Group set a $565.00 price objective on shares of Cummins and gave the company a “neutral” rating in a research note on Friday, February 6th. Wall Street Zen upgraded Cummins from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a report on Monday, December 29th. Robert W. Baird set a $580.00 price target on shares of Cummins in a report on Friday, February 6th. Finally, Wells Fargo & Company increased their price objective on shares of Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd.

Insider Transactions at Cummins

In other news, insider Brett Michael Merritt sold 1,450 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total value of $709,514.00. Following the completion of the transaction, the insider owned 9,271 shares of the company’s stock, valued at approximately $4,536,485.72. This represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.41% of the company’s stock.

Institutional Trading of Cummins

A number of institutional investors have recently made changes to their positions in CMI. Frank Rimerman Advisors LLC boosted its stake in Cummins by 0.5% during the 4th quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock valued at $1,908,000 after purchasing an additional 18 shares in the last quarter. Financial Consulate Inc. increased its holdings in shares of Cummins by 16.8% in the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock valued at $64,000 after buying an additional 18 shares in the last quarter. ICW Investment Advisors LLC boosted its stake in shares of Cummins by 2.6% during the 4th quarter. ICW Investment Advisors LLC now owns 723 shares of the company’s stock worth $369,000 after acquiring an additional 18 shares in the last quarter. Gilbert & Cook Inc. raised its position in shares of Cummins by 1.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company’s stock worth $947,000 after purchasing an additional 19 shares during the period. Finally, Sound View Wealth Advisors Group LLC lifted its stake in Cummins by 2.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 981 shares of the company’s stock valued at $501,000 after buying an additional 20 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Cummins Price Performance

CMI opened at $588.20 on Friday. Cummins has a twelve month low of $260.02 and a twelve month high of $617.98. The firm has a market cap of $81.27 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 1.89 and a beta of 1.13. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $548.19 and a 200 day simple moving average of $467.67.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, beating the consensus estimate of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The company had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period last year, the firm earned $5.16 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. Equities research analysts expect that Cummins will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Friday, February 20th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, February 20th. Cummins’s payout ratio is 38.99%.

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.