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Equities research analysts at Morgan Stanley upped their price objective on shares of Cummins (NYSE:CMI) from $2.00 to $174.00 in a research note issued to investors on Tuesday. Morgan Stanley’s price objective would indicate a potential upside of 19.71% from the stock’s previous close.

Shares of Cummins (NYSE:CMI) traded up 0.95% during mid-day trading on Tuesday, hitting $146.725. The stock had a trading volume of 421,221 shares. Cummins has a 1-year low of $117.38 and a 1-year high of $161.03. The stock has a 50-day moving average of $154.7 and a 200-day moving average of $146.5. The company has a market cap of $26.807 billion and a P/E ratio of 17.60.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Monday, July 28th. The company reported $2.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.38 by $0.05. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the prior year, the company posted $2.20 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts expect that Cummins will post $9.03 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Shareholders of record on Friday, August 22nd will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Wednesday, August 20th. This is a positive change from Cummins’s previous quarterly dividend of $0.63.

A number of other analysts have also recently weighed in on CMI. Analysts at Robert W. Baird raised their price target on shares of Cummins from $150.00 to $160.00 in a research note on Tuesday. They now have a “neutral” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Cummins from $161.00 to $167.00 in a research note on Tuesday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Cummins in a research note on Monday, July 21st. They now have a $160.00 price target on the stock. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Cummins has an average rating of “Buy” and a consensus price target of $163.79.

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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