Cummins (NYSE:CMI) Downgraded to “Hold” Rating by StockNews.com

Cummins (NYSE:CMI) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Several other equities analysts have also issued reports on the company. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Robert W. Baird increased their target price on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Truist Financial raised their price target on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Citigroup cut their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Barclays raised their target price on Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $389.50.

Cummins Trading Down 0.8 %

CMI opened at $328.08 on Tuesday. Cummins has a twelve month low of $261.51 and a twelve month high of $387.90. The company has a fifty day moving average of $354.07 and a 200-day moving average of $348.10. The stock has a market cap of $45.11 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

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

Institutional Investors Weigh In On Cummins

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Global Trust Asset Management LLC lifted its position in shares of Cummins by 59.6% during 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. KG&L Capital Management LLC increased its stake in Cummins by 0.8% in the 4th quarter. KG&L Capital Management LLC now owns 3,749 shares of the company’s stock valued at $1,296,000 after buying an additional 28 shares during the last quarter. Signaturefd LLC lifted its position in shares of Cummins by 0.9% during the 4th quarter. Signaturefd LLC now owns 3,313 shares of the company’s stock worth $1,155,000 after buying an additional 28 shares in the last quarter. Fiduciary Trust Co lifted its holdings in Cummins by 1.2% during the fourth quarter. Fiduciary Trust Co now owns 2,456 shares of the company’s stock worth $856,000 after acquiring an additional 28 shares during the period. Finally, Massachusetts Wealth Management raised its position in Cummins by 0.6% in the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock worth $1,677,000 after acquiring an additional 30 shares during the period. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Company Profile

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.