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

Shares of Cummins Inc. (NYSE:CMI) have received an average rating of “Moderate Buy” from the seventeen brokerages that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $588.9333.

Several brokerages have recently weighed in on CMI. Truist Financial reiterated a “buy” rating and issued a $703.00 price objective (up from $653.00) on shares of Cummins in a research note on Friday, February 6th. Sanford C. Bernstein set a $600.00 target price on shares of Cummins and gave the company a “market perform” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. increased their price target on shares of Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Zacks Research downgraded shares of Cummins from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cummins in a report on Monday, December 29th.

Cummins Stock Performance

Shares of CMI opened at $549.83 on Friday. The firm has a market capitalization of $75.96 billion, a P/E ratio of 26.79, a PEG ratio of 1.74 and a beta of 1.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. Cummins has a one year low of $260.02 and a one year high of $617.98. The business has a fifty day moving average of $567.38 and a 200 day moving average of $509.76.

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

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were paid a dividend of $2.00 per share. The ex-dividend date was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.5%. Cummins’s payout ratio is 38.99%.

Insider Activity at Cummins

In related news, Director William I. Miller sold 18,107 shares of Cummins stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the transaction, the director owned 34,243 shares in the company, valued at approximately $20,446,495.30. The trade was a 34.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Amy Rochelle Davis sold 4,054 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $561.34, for a total value of $2,275,672.36. Following the completion of the sale, the vice president owned 15,807 shares of the company’s stock, valued at $8,873,101.38. The trade was a 20.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,195 shares of company stock worth $18,397,489 in the last 90 days. Insiders own 0.41% of the company’s stock.

Institutional Trading of Cummins

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of Cummins by 4.1% during the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after buying an additional 83 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Cummins by 40.8% during the 1st quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock valued at $1,240,000 after purchasing an additional 1,146 shares during the last quarter. Groupe la Francaise boosted its holdings in shares of Cummins by 3.5% during the 2nd quarter. Groupe la Francaise now owns 1,215 shares of the company’s stock valued at $397,000 after purchasing an additional 41 shares during the last quarter. CW Advisors LLC grew its position in shares of Cummins by 34.2% during the second quarter. CW Advisors LLC now owns 2,239 shares of the company’s stock valued at $734,000 after purchasing an additional 571 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Cummins by 23.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,672 shares of the company’s stock worth $548,000 after purchasing an additional 319 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Company Profile

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.