Cummins Inc. (NYSE:CMI) Receives Consensus Rating of “Hold” from Brokerages

Shares of Cummins Inc. (NYSE:CMI) have been given an average recommendation of “Hold” by the thirteen research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $363.50.

Several analysts have recently issued reports on CMI shares. Robert W. Baird upped their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Citigroup lifted their target price on Cummins from $415.00 to $435.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $355.00 to $420.00 in a research report on Monday, December 9th. Finally, Jefferies Financial Group raised their price target on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th.

Cummins Stock Performance

NYSE CMI opened at $359.75 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins has a 1-year low of $226.52 and a 1-year high of $387.90. The business has a 50 day simple moving average of $360.77 and a two-hundred day simple moving average of $323.69. The stock has a market capitalization of $49.35 billion, a PE ratio of 23.76, a P/E/G ratio of 1.80 and a beta of 1.01.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The firm had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. Cummins’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the firm posted $4.73 earnings per share. On average, research analysts predict that Cummins will post 20.75 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were issued a $1.82 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.02%. Cummins’s payout ratio is 48.08%.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 6,489 shares of company stock valued at $2,357,531 over the last quarter. 0.56% of the stock is owned by corporate insiders.

Institutional Trading of Cummins

A number of hedge funds have recently added to or reduced their stakes in the business. Bangor Savings Bank raised its holdings in shares of Cummins by 24.6% in the 4th quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after purchasing an additional 35 shares in the last quarter. Canandaigua National Bank & Trust Co. raised its stake in Cummins by 9.4% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 6,422 shares of the company’s stock worth $2,239,000 after buying an additional 551 shares in the last quarter. Pensionfund Sabic lifted its holdings in Cummins by 27.0% during the fourth quarter. Pensionfund Sabic now owns 4,700 shares of the company’s stock worth $1,638,000 after buying an additional 1,000 shares during the period. GAMMA Investing LLC boosted its position in Cummins by 31.1% during the 4th quarter. GAMMA Investing LLC now owns 3,109 shares of the company’s stock valued at $1,084,000 after acquiring an additional 737 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Cummins by 53.1% in the 4th quarter. Versant Capital Management Inc now owns 476 shares of the company’s stock valued at $166,000 after acquiring an additional 165 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.