Shares of Cummins Inc. (NYSE:CMI) have received a consensus recommendation of “Hold” from the twenty-two analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $161.34.
Several equities analysts have commented on CMI shares. Zacks Investment Research raised shares of Cummins from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a research report on Thursday, November 29th. Credit Suisse Group reaffirmed a “buy” rating and set a $168.00 price objective on shares of Cummins in a research report on Tuesday, January 22nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $155.00 price objective on shares of Cummins in a research report on Monday, December 24th. Mizuho set a $155.00 price objective on shares of Cummins and gave the stock a “hold” rating in a research report on Saturday, February 9th. Finally, ValuEngine raised shares of Cummins from a “sell” rating to a “hold” rating in a research report on Friday, February 15th.
CMI stock traded down $2.99 during midday trading on Friday, hitting $155.63. The company’s stock had a trading volume of 1,348,382 shares, compared to its average volume of 1,461,140. The company has a quick ratio of 0.95, a current ratio of 1.54 and a debt-to-equity ratio of 0.19. Cummins has a 52-week low of $124.40 and a 52-week high of $172.08. The stock has a market capitalization of $26.28 billion, a PE ratio of 11.76, a P/E/G ratio of 1.10 and a beta of 1.09.
Cummins (NYSE:CMI) last issued its quarterly earnings results on Wednesday, February 6th. The company reported $3.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.81 by ($0.33). Cummins had a net margin of 9.01% and a return on equity of 29.71%. The business had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $6.08 billion. During the same period in the prior year, the business earned $3.03 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. Analysts expect that Cummins will post 15.46 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Friday, February 22nd were given a $1.14 dividend. The ex-dividend date of this dividend was Thursday, February 21st. This represents a $4.56 dividend on an annualized basis and a yield of 2.93%. Cummins’s dividend payout ratio (DPR) is presently 34.47%.
In related news, VP Tracy A. Embree sold 206 shares of the business’s stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $150.00, for a total value of $30,900.00. Following the completion of the sale, the vice president now directly owns 4,221 shares of the company’s stock, valued at $633,150. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alexis M. Herman sold 423 shares of the business’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $150.12, for a total transaction of $63,500.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,816 shares of company stock valued at $1,039,321. 0.67% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CMI. Oregon Public Employees Retirement Fund increased its stake in Cummins by 12,091.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,411,147 shares of the company’s stock valued at $93,000 after purchasing an additional 12,309,348 shares during the period. BlackRock Inc. increased its stake in Cummins by 2.6% in the fourth quarter. BlackRock Inc. now owns 11,093,954 shares of the company’s stock valued at $1,482,593,000 after purchasing an additional 279,849 shares during the period. LSV Asset Management increased its stake in Cummins by 13.6% in the fourth quarter. LSV Asset Management now owns 3,674,463 shares of the company’s stock valued at $491,055,000 after purchasing an additional 439,936 shares during the period. Geode Capital Management LLC increased its stake in Cummins by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 2,495,807 shares of the company’s stock valued at $333,085,000 after purchasing an additional 97,017 shares during the period. Finally, Northern Trust Corp increased its stake in Cummins by 11.4% in the fourth quarter. Northern Trust Corp now owns 2,472,270 shares of the company’s stock valued at $330,394,000 after purchasing an additional 253,893 shares during the period. 76.89% of the stock is owned by hedge funds and other institutional investors.
Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.
Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.