Shares of Cummins Inc. (NYSE:CMI – Get Rating ) has received a consensus rating of “Hold” from the ten analysts that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $253.13.
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A number of equities analysts have rated CMI shares. Morgan Stanley reduced their price objective on Cummins from $264.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday, January 20th. UBS Group boosted their price objective on Cummins to $247.00 in a research note on Wednesday, November 16th. Deutsche Bank Aktiengesellschaft reduced their target price on Cummins from $235.00 to $231.00 and set a “hold” rating on the stock in a research note on Tuesday. StockNews.com raised Cummins from a “hold” rating to a “buy” rating in a research note on Friday, January 20th. Finally, Citigroup upped their target price on Cummins to $270.00 in a research note on Tuesday, November 15th.
Cummins Stock Performance
NYSE CMI opened at $247.11 on Thursday. The stock’s fifty day moving average is $244.68 and its two hundred day moving average is $232.21. The company has a market cap of $34.85 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 1.37 and a beta of 1.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84, and a current ratio of 1.27. Cummins has a fifty-two week low of $184.27 and a fifty-two week high of $258.27.
Cummins (NYSE:CMI – Get Rating ) last released its quarterly earnings data on Monday, February 6th. The company reported $4.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $4.52. The company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.21 billion. Cummins had a return on equity of 24.58% and a net margin of 7.66%. The company’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same quarter last year, the company posted earnings per share of $2.85. On average, research analysts forecast that Cummins will post 20.1 earnings per share for the current year.
Privileged activity at Cummins
In related news, Chairman Norman Thomas Linebarger sold 54,809 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $250.21, for a total value of $13,713,759.89. Following the sale, the chairman now owns 137,338 shares in the company, valued at approximately $34,363,340.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Norman Thomas Linebarger sold 54,809 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $250.21, for a total value of $13,713,759.89. Following the sale, the chairman now owns 137,338 shares in the company, valued at approximately $34,363,340.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Leo Allen Bruno V. Di sold 950 shares of the company’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $250.30, for a total value of $237,785.00. Following the completion of the sale, the director now owns 7,431 shares in the company, valued at approximately $1,859,979.30. Disclosure of this sale can be found here. In the last 90 days, insiders have sold 78,806 shares of company stock worth $19,697,407. Currently, 1.05% of shares are owned by company insiders.
Institutional investors weigh in on Cummins
A number of large investors have recently bought and sold shares of CMI. Price T Rowe Associates Inc. MD boosted its holdings in Cummins by 39.5% during the third quarter. Price T Rowe Associates Inc. MD now owns 5,240,383 shares of the company’s stock worth $1,067,213,000 after buying an additional 1,484,171 shares during the period. Edmp Inc. raised its holdings in Cummins by 23,155.2% during the fourth quarter. Edmp Inc. now owns 1,070,437 shares of the company’s stock worth $4,418,000 after purchasing an additional 1,065,834 shares during the period. First Trust Advisors LP boosted its holdings in Cummins by 48.8% during the third quarter. First Trust Advisors LP now owns 2,033,702 shares of the company’s stock worth $413,878,000 after purchasing an additional 666,567 shares during the period. Neuberger Berman Group LLC boosted its holdings in Cummins by 69.6% during the third quarter. Neuberger Berman Group LLC now owns 1,221,941 shares of the company’s stock worth $248,698,000 after purchasing an additional 501,499 shares during the period. Finally, Castleview Partners LLC boosted its position in shares of Cummins by 18,796.4% during the second quarter. Castleview Partners LLC now owns 432,539 shares of the company’s stock worth $2,235,000 after acquiring an additional 430,250 shares during the last quarter. Hedge funds and other institutional investors own 80.94% of the company’s shares.
About Cummins
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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 Engines segment manufactures and markets diesel and natural gas engines under the Cummins brand, for heavy- and medium-duty trucks, buses, recreational vehicles, light automotive, construction, mining, marine, rail, oil and gas. , defense and agricultural markets.
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