Cummins Inc. (NYSE:CMI) Receives Consensus Recommendation of “Hold” from Analysts

Cummins Inc. (NYSE:CMI) has received a consensus recommendation of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $299.55.

CMI has been the subject of several research reports. Raymond James began coverage on Cummins in a report on Friday, June 28th. They set a “market perform” rating for the company. Citigroup began coverage on shares of Cummins in a report on Wednesday, June 26th. They set a “buy” rating and a $320.00 target price for the company. Robert W. Baird upped their price target on shares of Cummins from $295.00 to $315.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Evercore ISI raised their price objective on shares of Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Finally, Truist Financial upped their target price on Cummins from $315.00 to $349.00 and gave the company a “hold” rating in a research report on Monday, August 5th.

Insider Buying and Selling at Cummins

In related news, SVP Tony Satterthwaite sold 24,250 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 77,442 shares of the company’s stock, valued at $23,870,722.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Sharon R. Barner sold 4,780 shares of Cummins stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $300.35, for a total value of $1,435,673.00. Following the transaction, the vice president now owns 20,873 shares in the company, valued at approximately $6,269,205.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Tony Satterthwaite sold 24,250 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was 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 $23,870,722.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cultivar Capital Inc. acquired a new position in shares of Cummins during the second quarter worth $28,000. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Cummins during the second quarter worth about $28,000. Lynx Investment Advisory acquired a new position in shares of Cummins in the second quarter valued at approximately $29,000. LRI Investments LLC acquired a new position in shares of Cummins in the first quarter valued at approximately $31,000. Finally, JNBA Financial Advisors raised its holdings in Cummins by 1,111.1% in the 1st quarter. JNBA Financial Advisors now owns 109 shares of the company’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Stock Down 0.0 %

Cummins stock opened at $331.71 on Tuesday. Cummins has a fifty-two week low of $212.80 and a fifty-two week high of $333.48. The firm has a market capitalization of $45.37 billion, a PE ratio of 24.28, a P/E/G ratio of 1.81 and a beta of 0.98. The company’s 50-day moving average is $304.44 and its 200-day moving average is $291.98. 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 announced its quarterly earnings results on Thursday, August 1st. The company reported $5.26 earnings per share for the quarter, topping analysts’ consensus estimates of $4.85 by $0.41. Cummins had a return on equity of 25.73% and a net margin of 5.69%. The firm had revenue of $8.80 billion for the quarter, compared to the consensus estimate of $8.33 billion. During the same quarter in the previous year, the business earned $5.18 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Cummins will post 19.77 earnings per share for the current 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.