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Deutsche Bank started coverage on shares of Cummins (NYSE:CMI) in a research note issued on Thursday, reports. The firm set a “buy” rating and a $170.00 price target on the stock. Deutsche Bank’s price target indicates a potential upside of 19.02% from the company’s current price.

Several other analysts have also recently commented on the stock. Analysts at S&P Equity Research downgraded shares of Cummins from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 10th. Separately, analysts at UBS AG cut their price target on shares of Cummins from $154.00 to $150.00 in a research note on Friday, February 7th. They now have a “buy” rating on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Cummins from $156.00 to $146.00 in a research note on Friday, February 7th. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $141.50.

Cummins (NYSE:CMI) opened at 142.83 on Thursday. Cummins has a 52-week low of $103.41 and a 52-week high of $143.83. The stock’s 50-day moving average is $134.9 and its 200-day moving average is $132.0. The company has a market cap of $26.481 billion and a price-to-earnings ratio of 17.92.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, February 6th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.34. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the company posted $2.00 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts predict that Cummins will post $8.84 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, March 3rd. Investors of record on Friday, February 21st will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, February 19th.

In other Cummins news, VP John Wall sold 5,500 shares of Cummins stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $142.61, for a total value of $784,355.00. Following the sale, the vice president now directly owns 24,059 shares in the company, valued at approximately $3,431,054. The transaction was disclosed in a filing with the SEC, which is available at this link.

Cummins Inc is a diesel engine manufacturer. The Company designs, manufactures, distributes and services diesel and natural gas engines, electric power generation systems and engine-related component products, including filtration, exhaust aftertreatment, fuel systems, fuel systems, controls systems, air handling systems and electric power.

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