Cummins Inc. (NYSE:CMI) Receives $299.55 Average Target Price from Analysts

Shares of Cummins Inc. (NYSE:CMI) have earned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $299.55.

A number of research firms recently weighed in on CMI. Robert W. Baird boosted their target price on Cummins from $295.00 to $315.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of Cummins from $275.00 to $285.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Evercore ISI lifted their target price on shares of Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Citigroup began coverage on shares of Cummins in a report on Wednesday, June 26th. They issued a “buy” rating and a $320.00 price target on the stock. Finally, Raymond James assumed coverage on Cummins in a report on Friday, June 28th. They set a “market perform” rating for the company.

Insider Activity at Cummins

In other Cummins news, SVP Tony Satterthwaite sold 24,250 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $308.24, for a total value of $7,474,820.00. Following the transaction, the senior vice president now directly owns 77,442 shares of the company’s stock, valued at approximately $23,870,722.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Tony Satterthwaite sold 24,250 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $308.24, for a total transaction of $7,474,820.00. Following the sale, the senior vice president now owns 77,442 shares in the company, valued at approximately $23,870,722.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sharon R. Barner sold 4,780 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $300.35, for a total transaction of $1,435,673.00. Following the transaction, the vice president now owns 20,873 shares of the company’s stock, valued at $6,269,205.55. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Canandaigua National Bank & Trust Co. increased its position in Cummins by 7.6% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 5,871 shares of the company’s stock worth $1,901,000 after purchasing an additional 417 shares in the last quarter. Czech National Bank increased its holdings in shares of Cummins by 7.1% during the third quarter. Czech National Bank now owns 27,918 shares of the company’s stock worth $9,040,000 after buying an additional 1,854 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Cummins by 5.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 934 shares of the company’s stock valued at $302,000 after acquiring an additional 47 shares during the last quarter. IMPACTfolio LLC acquired a new stake in shares of Cummins during the 3rd quarter valued at $216,000. Finally, Centaurus Financial Inc. grew its position in Cummins by 10.4% during the 2nd quarter. Centaurus Financial Inc. now owns 837 shares of the company’s stock worth $232,000 after acquiring an additional 79 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $327.36 on Tuesday. The company has a fifty day moving average price of $303.61 and a two-hundred day moving average price of $291.55. Cummins has a one year low of $212.80 and a one year high of $333.43. The stock has a market cap of $44.78 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.81 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.34 and a quick ratio of 0.82.

Cummins (NYSE:CMI) last issued its earnings results on Thursday, August 1st. The company reported $5.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.85 by $0.41. The business had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $8.33 billion. Cummins had a net margin of 5.69% and a return on equity of 25.73%. Cummins’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $5.18 EPS. As a group, equities analysts predict that Cummins will post 19.77 EPS for the current year.

Cummins Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Friday, August 23rd were issued a dividend of $1.82 per share. This is a positive change from Cummins’s previous quarterly dividend of $1.68. This represents a $7.28 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Friday, August 23rd. Cummins’s dividend payout ratio is 53.29%.

Cummins Company Profile

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.