Brokerages Set Cummins Inc. (NYSE:CMI) PT at $334.33

Shares of Cummins Inc. (NYSE:CMI) have received a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $337.67.

A number of equities research analysts have commented on the company. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on shares of Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research report on Friday, October 11th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Truist Financial lifted their price objective on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Citigroup upped their target price on shares of Cummins from $375.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total value of $57,840.48. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,427,503.12. The trade was 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 sold 6,489 shares of company stock worth $2,357,531 in the last quarter. 0.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMI. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Cummins in the 2nd quarter worth approximately $28,000. Cultivar Capital Inc. bought a new stake in shares of Cummins in the second quarter valued at $28,000. Lynx Investment Advisory purchased a new position in shares of Cummins during the 2nd quarter valued at $29,000. LRI Investments LLC bought a new position in shares of Cummins during the 1st quarter worth $31,000. Finally, Prospera Private Wealth LLC purchased a new stake in Cummins in the 3rd quarter worth about $32,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Stock Up 1.0 %

Cummins stock opened at $372.62 on Wednesday. The company has a market capitalization of $51.12 billion, a PE ratio of 24.61, a PEG ratio of 1.79 and a beta of 0.97. Cummins has a 12-month low of $222.04 and a 12-month high of $373.35. The firm’s fifty day moving average is $335.78 and its 200 day moving average is $304.64. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion for 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%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.73 earnings per share. As a group, sell-side analysts predict that Cummins will post 20.75 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be issued a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 1.95%. Cummins’s dividend payout ratio (DPR) is currently 48.08%.

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.