Cummins (NYSE:CMI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Cummins (NYSE:CMIFree Report) from a hold rating to a buy rating in a research note published on Monday morning.

Several other equities research analysts have also recently weighed in on CMI. Evercore ISI increased their target price on Cummins from $231.00 to $244.00 and gave the company an in-line rating in a report on Tuesday, February 20th. The Goldman Sachs Group increased their target price on Cummins from $270.00 to $306.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Citigroup increased their target price on Cummins from $265.00 to $285.00 and gave the company a buy rating in a report on Monday, February 12th. TheStreet cut Cummins from an a- rating to a c+ rating in a report on Tuesday, February 6th. Finally, Bank of America cut Cummins from a neutral rating to an underperform rating and dropped their target price for the company from $243.00 to $225.00 in a report on Friday, January 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $279.70.

Get Our Latest Research Report on Cummins

Cummins Price Performance

CMI opened at $292.42 on Monday. The stock has a 50-day moving average price of $282.33 and a 200-day moving average price of $249.89. Cummins has a 12-month low of $203.18 and a 12-month high of $304.24. The company has a current ratio of 1.18, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $39.99 billion, a P/E ratio of 56.45, a PEG ratio of 1.97 and a beta of 1.04.

Cummins (NYSE:CMIGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The firm had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter in the previous year, the company posted $4.52 earnings per share. Cummins’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts predict that Cummins will post 18.34 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were given a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s payout ratio is 129.73%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total transaction of $569,709.00. Following the completion of the transaction, the vice president now owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jennifer Rumsey sold 739 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $266.91, for a total value of $197,246.49. Following the completion of the transaction, the chief executive officer now owns 2,698 shares of the company’s stock, valued at approximately $720,123.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sharon R. Barner sold 2,100 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the transaction, the vice president now directly owns 16,899 shares of the company’s stock, valued at approximately $4,584,529.71. The disclosure for this sale can be found here. Insiders sold 51,289 shares of company stock valued at $13,576,838 in the last 90 days. Insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bison Wealth LLC raised its position in shares of Cummins by 3.6% in the 4th quarter. Bison Wealth LLC now owns 1,224 shares of the company’s stock worth $293,000 after acquiring an additional 42 shares in the last quarter. KB Financial Partners LLC raised its position in shares of Cummins by 1.3% in the 3rd quarter. KB Financial Partners LLC now owns 3,585 shares of the company’s stock worth $819,000 after acquiring an additional 45 shares in the last quarter. Edmp Inc. raised its position in shares of Cummins by 0.8% in the 4th quarter. Edmp Inc. now owns 5,560 shares of the company’s stock worth $1,332,000 after acquiring an additional 46 shares in the last quarter. First Pacific Financial increased its position in Cummins by 1.2% during the 1st quarter. First Pacific Financial now owns 3,823 shares of the company’s stock valued at $1,127,000 after buying an additional 47 shares in the last quarter. Finally, Ledge Wealth Management Inc. increased its position in Cummins by 0.5% during the 4th quarter. Ledge Wealth Management Inc. now owns 9,036 shares of the company’s stock valued at $2,165,000 after buying an additional 48 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

About Cummins

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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.

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Analyst Recommendations for Cummins (NYSE:CMI)

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