Cummins Inc. (NYSE: CMI – Get Rating) received a consensus recommendation of “Hold” from the fourteen analysts who cover the company, MarketBeat reports. One investment analyst rated the stock with a sell rating, six assigned a stop rating and seven issued a buy rating to the company. The average 12-month price target between brokers that issued a report on the stock last year is $ 270.67.
Several brokerages have recently published reports on CMI. Credit Suisse Group raised its target price on Cummins from $ 301.00 to $ 304.00 and gave the company an “outperform” rating in a research report on Friday, February 4th. Deutsche Bank Aktiengesellschaft has reduced its price target on Cummins from $ 251.00 to $ 247.00 and set a “hold” rating on the stock in a report on Friday, December 10th. Zacks Investment Research downgraded Cummins from a “Holden” rating to a “sell” rating and put a $ 246.00 price target on the stock. in a report on Monday, January 10th. Morgan Stanley cut its price target on Cummins from $ 251.00 to $ 249.00 and set a “balanced” rating on the stock in a report on Tuesday, January 18th. Finally, StockNews.com raised Cummins from a “Holden” rating to a “Buy” rating in a report on Thursday, February 24th.
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In related news, VP Christopher C. Clulow sold 285 shares of Cummins stock in a transaction on Friday, February 25th. The stock was sold at an average price of $ 205.04, for a total value of $ 58,436.40. The transaction was published in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jill E. Cook sold 3,136 shares of Cummins stock in a transaction on Wednesday, February 23rd. The stock was sold at an average price of $ 206.04, for a total value of $ 646,141.44. The revelation for this sale can be found here. In the last 90 days, insiders have sold 4,948 shares of the company worth $ 1,018,276. Company insiders own 1.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp. increased its position in Cummins by 1.1% in the 4th quarter. State Street Corp now owns 6,751,839 shares of the company worth $ 1,472,846,000 after acquiring an additional 74,697 shares during the period. Capital Research Global Investors increased their holdings in Cummins shares by 4.2% in the third quarter. Capital Research Global Investors now owns 3,402,903 shares of the company worth $ 764,156,000 after buying an additional 135,846 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Cummins in the 4th quarter by 3.7%. Geode Capital Management LLC now owns 2,823,165 shares of the company worth $ 614,408,000 after buying an additional 100,129 shares in the last quarter. Charles Schwab Investment Management Inc. increased its shares in Cummins shares by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,197,012 shares of the company worth $ 479,257,000 after buying an additional 67,205 shares in the last quarter. Finally, LSAP Asset Management raised its stake in Cummins by 5.5% in the third quarter. LSV Asset Management now owns 2,101,229 shares of the company, valued at $ 471,851,000 after buying an additional 109,970 shares in the last quarter. Institutional investors in hedge funds own 79.73% of the company’s stock.
Shares of CMI shares opened at $ 206.75 on Monday. Cummins has a twelve-month low of $ 189.50 and a twelve-month high of $ 273.65. The stock has a market capitalization of $ 29.45 billion, a price-to-earnings ratio of 14.17, a P / E / G ratio of 1.32 and a beta of 1.04. The stock has a fifty day simple moving average of $ 216.46 and a two hundred day simple moving average of $ 224.16. The company has a current ratio of 1.74, a fast ratio of 1.12 and a debt-to-equity ratio of 0.38.
Cummins (NYSE: CMI – Get Rating) last released its quarterly earnings results on Thursday, February 3rd. The company reported $ 2.85 EPS for the quarter, missing Thomson Reuters’ consensus estimate of $ 3.08 ($ 0.23). The company had revenue of $ 5.85 billion in the quarter, compared to the consensus estimate of $ 5.81 billion. Cummins had a return on equity of 23.63% and a net margin of 8.87%. The company’s revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $ 3.36 earnings per share. Research analysts predict that Cummins will post 17.57 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 3rd. Shareholders of the record on Friday, February 18 received $ 1.45 in dividends. Dates for payment of dividends on 17 February. paid $ 5.80 dividends per share last time and the dividend rate was 2.81%. The dividend payout ratio on Cummins today is at 39.75%.
Cummins said his board of directors on Tuesday, Dec. 14, approved a share-buying plan that would allow the company to repurchase $ 2.00 billion in extraordinary shares. This recovery authorization allows the company to purchase up to 6.4% of its shares through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors thinks its stock is undervalued.
Cummins Company Profile (Received rating)
Cummins, Inc. designs, manufactures and markets diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The engine segment manufactures and markets diesel and natural gas powered engines under the Cummins brand name, for heavy and medium-duty truck, bus, recreational vehicle, light-duty automobile, construction, mining, marine, railway, oil and gas, defense , and agricultural markets.
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