Cummins (NYSE:CMI) Upgraded to “Strong-Buy” at Wall Street Zen

Cummins (NYSE:CMI) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages also recently commented on CMI. Barclays upped their target price on Cummins from $546.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Robert W. Baird set a $580.00 target price on shares of Cummins in a research note on Friday, February 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a research note on Monday, December 29th. Zacks Research lowered shares of Cummins from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $675.00 target price on shares of Cummins in a report on Friday, February 6th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Cummins presently has an average rating of “Moderate Buy” and a consensus target price of $588.93.

Cummins Price Performance

Shares of NYSE:CMI opened at $584.37 on Friday. Cummins has a 52 week low of $260.02 and a 52 week high of $617.98. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average is $566.52 and its 200 day moving average is $484.51. The stock has a market cap of $80.74 billion, a PE ratio of 28.48, a PEG ratio of 1.86 and a beta of 1.13.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same period last year, the company earned $5.16 EPS. Cummins’s revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts anticipate that Cummins will post 22.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Jennifer Mary Bush sold 4,270 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $584.93, for a total value of $2,497,651.10. Following the transaction, the vice president owned 15,130 shares in the company, valued at approximately $8,849,990.90. This represents a 22.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Earl Newsome sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $583.67, for a total transaction of $758,771.00. Following the sale, the vice president directly owned 3,389 shares of the company’s stock, valued at $1,978,057.63. This trade represents a 27.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 27,141 shares of company stock valued at $16,121,817. 0.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cummins

Several institutional investors have recently modified their holdings of CMI. Vanguard Group Inc. boosted its holdings in shares of Cummins by 0.6% during the 4th 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 during the last quarter. State Street Corp boosted its holdings in Cummins by 1.4% in the second quarter. State Street Corp now owns 6,539,191 shares of the company’s stock worth $2,141,585,000 after purchasing an additional 92,073 shares during the last quarter. Geode Capital Management LLC grew its position in Cummins by 1.0% in 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 raised its stake in 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 buying an additional 43,722 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted 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 buying an additional 2,434,876 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

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.