Morgan Stanley Forecasts Strong Price Appreciation for Cummins (NYSE:CMI) Stock

Cummins (NYSE:CMI) had its target price upped by equities researchers at Morgan Stanley from $752.00 to $761.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 17.50% from the stock’s current price.

Several other equities analysts have also commented on the stock. Zacks Research lowered shares of Cummins from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Robert W. Baird set a $700.00 target price on shares of Cummins in a research report on Wednesday, May 6th. Weiss Ratings lowered shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Argus raised their price target on shares of Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $740.07.

Cummins Stock Down 0.0%

Shares of CMI stock opened at $647.67 on Friday. The stock’s fifty day moving average price is $677.02 and its 200 day moving average price is $614.26. Cummins has a 1-year low of $344.02 and a 1-year high of $737.76. The company has a market cap of $89.37 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 1.58 and a beta of 1.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.During the same period last year, the business posted $5.96 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts expect that Cummins will post 29.34 earnings per share for the current fiscal year.

Insider Activity at Cummins

In other Cummins news, VP Jennifer Mary Bush sold 5,000 shares of Cummins stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the completion of the sale, the vice president directly owned 11,986 shares in the company, valued at approximately $8,344,773.06. The trade was a 29.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Marvin Boakye sold 3,481 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $679.90, for a total transaction of $2,366,731.90. Following the completion of the sale, the vice president owned 8,508 shares in the company, valued at $5,784,589.20. The trade was a 29.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,579 shares of company stock worth $9,377,684 in the last ninety days. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cummins

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Cummins by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock valued at $9,058,841,000 after acquiring an additional 98,544 shares in the last quarter. State Street Corp grew its stake in shares of Cummins by 0.8% during the 4th quarter. State Street Corp now owns 6,509,852 shares of the company’s stock worth $3,322,954,000 after purchasing an additional 49,628 shares during the period. Geode Capital Management LLC grew its stake in shares of Cummins by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock worth $1,822,534,000 after purchasing an additional 35,286 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Cummins by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock valued at $1,741,004,000 after purchasing an additional 43,722 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cummins by 10,317.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock valued at $1,254,929,000 after purchasing an additional 2,434,876 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins News Summary

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Morgan Stanley boosted its price target on Cummins and kept an overweight rating, signaling confidence in further upside. Benzinga
• Neutral Sentiment: Zacks Research slightly raised its Q3 2027 EPS estimate for Cummins to $9.02 from $9.00, a small change that suggests stable longer-term expectations. Article
• Neutral Sentiment: Other Zacks revisions were mixed but generally small, with slight cuts to some FY2027/FY2028 estimates and a continued Hold rating, suggesting analysts are not seeing a major near-term change in fundamentals. Article

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.