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Stock analysts at Robert W. Baird upped their price objective on shares of Cummins (NYSE:CMI) from $150.00 to $160.00 in a report issued on Tuesday. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 10.08% from the stock’s previous close.

Shares of Cummins (NYSE:CMI) traded up 0.94% on Tuesday, hitting $146.72. 421,421 shares of the company’s stock traded hands. 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 $26.806 billion and a P/E ratio of 17.60.

Cummins (NYSE:CMI) last released its earnings data on Monday, July 28th. The company reported $2.43 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $2.20 earnings per share. Cummins’s revenue was up 6.9% compared to the same quarter last year. Analysts expect that Cummins will post $9.03 EPS for the current fiscal year.

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

CMI has been the subject of a number of other recent research reports. Analysts at Credit Suisse raised their price target on shares of Cummins from $161.00 to $167.00 in a research note on Tuesday. Separately, 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. Finally, analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Cummins in a research note on Thursday, July 10th. They now have a $156.00 price target on the stock, up previously from $145.00. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price 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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