Cummins Inc. (NYSE:CMI) Receives $374.25 Average PT from Brokerages

Shares of Cummins Inc. (NYSE:CMI) have earned an average recommendation of “Hold” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $383.08.

Several research analysts have recently commented on the stock. Citigroup decreased their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Truist Financial increased their price target on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Barclays boosted their price objective on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Robert W. Baird increased their target price on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday.

Insider Activity at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,001 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $358.43, for a total transaction of $717,218.43. Following the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,456,419.29. This trade represents a 8.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 6,328 shares of company stock worth $2,300,040 over the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CMI. PFG Investments LLC lifted its position in Cummins by 27.7% in the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after purchasing an additional 485 shares during the period. Mariner Investment Group LLC acquired a new stake in shares of Cummins in the fourth quarter valued at $1,046,000. CWM LLC boosted its stake in Cummins by 17.4% during the third quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after buying an additional 1,786 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new position in Cummins during the third quarter worth about $748,000. Finally, Franklin Resources Inc. raised its position in Cummins by 74.2% in the third quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after acquiring an additional 99,464 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

Cummins Trading Up 0.8 %

Shares of NYSE CMI opened at $372.12 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $361.89 and its two-hundred day moving average price is $335.21. Cummins has a 52-week low of $247.53 and a 52-week high of $387.90. The stock has a market capitalization of $51.05 billion, a P/E ratio of 24.58, a PEG ratio of 1.64 and a beta of 1.00.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.14 EPS. On average, analysts anticipate that Cummins will post 20.62 earnings per share for the current fiscal year.

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.