Cummins Inc. (NYSE:CMI) Receives $389.50 Consensus PT from Analysts

Cummins Inc. (NYSE:CMI) has received a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $389.50.

CMI has been the topic of a number of recent research reports. UBS Group decreased their price objective on Cummins from $432.00 to $400.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Barclays lifted their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Citigroup dropped their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Robert W. Baird raised their price objective on shares of Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th.

Cummins Stock Down 3.1 %

Shares of CMI stock opened at $313.45 on Tuesday. The stock has a market cap of $43.09 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The stock has a fifty day moving average price of $352.17 and a 200 day moving average price of $348.41. Cummins has a one year low of $261.51 and a one year high of $387.90.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter last year, the company earned $4.14 EPS. Cummins’s revenue was down 1.1% on a year-over-year basis. Analysts predict that Cummins will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were paid a dividend of $1.82 per share. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.32%. Cummins’s dividend payout ratio is 25.84%.

Institutional Trading of Cummins

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Trust Asset Management LLC grew its stake in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares in the last quarter. BankPlus Trust Department bought a new position in shares of Cummins in the fourth quarter valued at $26,000. Compass Financial Services Inc acquired a new position in Cummins during the fourth quarter worth $27,000. Meeder Asset Management Inc. raised its position in Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock worth $27,000 after acquiring an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC acquired a new stake in Cummins in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.