Cummins Inc. (NYSE:CMI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Cummins Inc. (NYSE:CMI) have been assigned a consensus rating of “Moderate Buy” from the eighteen research firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $513.0667.

A number of equities analysts have recently issued reports on CMI shares. JPMorgan Chase & Co. increased their price objective on shares of Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $475.00 price target on shares of Cummins in a report on Friday, November 7th. Barclays reissued a “positive” rating on shares of Cummins in a research note on Friday, December 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cummins in a research report on Monday, December 29th. Finally, Argus increased their target price on Cummins from $459.00 to $573.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th.

Insider Buying and Selling at Cummins

In other Cummins news, CFO Mark Andrew Smith sold 13,110 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $470.66, for a total value of $6,170,352.60. Following the transaction, the chief financial officer directly owned 31,582 shares of the company’s stock, valued at approximately $14,864,384.12. This trade represents a 29.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brett Michael Merritt sold 1,450 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total transaction of $709,514.00. Following the sale, the insider directly owned 9,271 shares of the company’s stock, valued at approximately $4,536,485.72. The trade was a 13.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 19,330 shares of company stock valued at $9,135,364. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of Cummins

Several institutional investors and hedge funds have recently modified their holdings of CMI. Thompson Investment Management Inc. purchased a new stake in Cummins in the 4th quarter valued at $26,000. Holos Integrated Wealth LLC purchased a new position in Cummins during the 4th quarter worth $32,000. Flagship Wealth Advisors LLC bought a new stake in shares of Cummins in the 3rd quarter worth $28,000. Olistico Wealth LLC purchased a new stake in shares of Cummins in the fourth quarter valued at about $39,000. Finally, Salomon & Ludwin LLC raised its holdings in shares of Cummins by 1,333.3% in the third quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock valued at $37,000 after purchasing an additional 80 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Performance

NYSE:CMI opened at $580.15 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 0.52. Cummins has a twelve month low of $260.02 and a twelve month high of $583.08. The company has a fifty day moving average of $510.68 and a 200-day moving average of $437.61. The firm has a market capitalization of $80.08 billion, a P/E ratio of 30.11, a P/E/G ratio of 2.02 and a beta of 1.12.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Thursday, November 6th. The company reported $5.59 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.76. Cummins had a net margin of 7.95% and a return on equity of 26.02%. The business had revenue of $8.32 billion during the quarter, compared to analysts’ expectations of $7.97 billion. During the same period last year, the company posted $5.86 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Cummins will post 22.54 EPS for the current year.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.