Cummins Inc. (NYSE:CMI)‘s stock had its “sell” rating reaffirmed by stock analysts at Robert W. Baird in a research report issued on Thursday. They currently have a $153.00 price target on the stock. Robert W. Baird’s price objective indicates a potential downside of 11.22% from the company’s previous close.

Several other research firms have also recently weighed in on CMI. Deutsche Bank AG boosted their price objective on shares of Cummins from $139.00 to $142.00 and gave the stock a “sell” rating in a research report on Tuesday, July 4th. Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Jefferies Group LLC restated a “hold” rating and issued a $165.00 price objective on shares of Cummins in a research report on Thursday, September 7th. ValuEngine cut shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $159.00 price objective on shares of Cummins in a research report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $163.84.

Shares of Cummins (NYSE CMI) traded down 0.13% during mid-day trading on Thursday, hitting $172.10. The stock had a trading volume of 305,319 shares. The firm has a 50 day moving average of $164.61 and a 200 day moving average of $158.99. The stock has a market cap of $28.74 billion, a price-to-earnings ratio of 19.45 and a beta of 1.13. Cummins has a one year low of $121.22 and a one year high of $173.15.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, August 1st. The company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.05). The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.80 billion. Cummins had a return on equity of 20.67% and a net margin of 8.10%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.40 earnings per share. On average, analysts forecast that Cummins will post $7.98 earnings per share for the current year.

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In related news, insider Jill E. Cook sold 7,000 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $165.86, for a total value of $1,161,020.00. Following the completion of the sale, the insider now owns 9,671 shares in the company, valued at approximately $1,604,032.06. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Franklin R. Changdiaz sold 1,633 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $159.27, for a total transaction of $260,087.91. Following the completion of the sale, the director now owns 5,814 shares of the company’s stock, valued at approximately $925,995.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,633 shares of company stock valued at $2,942,108. 0.62% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Johanson Financial Advisors Inc. increased its position in shares of Cummins by 0.4% in the 2nd quarter. Johanson Financial Advisors Inc. now owns 1,843 shares of the company’s stock valued at $303,000 after buying an additional 7 shares in the last quarter. Good Life Advisors LLC increased its position in shares of Cummins by 0.6% in the 2nd quarter. Good Life Advisors LLC now owns 1,481 shares of the company’s stock valued at $243,000 after buying an additional 9 shares in the last quarter. Northwest Quadrant Wealth Management LLC increased its position in shares of Cummins by 0.5% in the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 2,251 shares of the company’s stock valued at $360,000 after buying an additional 11 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Cummins by 1.1% in the 2nd quarter. Bessemer Group Inc. now owns 1,148 shares of the company’s stock valued at $187,000 after buying an additional 12 shares in the last quarter. Finally, Texas Yale Capital Corp. increased its position in shares of Cummins by 1.3% in the 2nd quarter. Texas Yale Capital Corp. now owns 2,016 shares of the company’s stock valued at $327,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 80.38% of the company’s stock.

About Cummins

Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.

Analyst Recommendations for Cummins (NYSE:CMI)

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