Cummins Inc. (NYSE:CMI) Receives $374.25 Average Target Price from Analysts

Shares of Cummins Inc. (NYSE:CMI) have earned a consensus rating of “Hold” from the thirteen brokerages 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 12 month price target among brokers that have updated their coverage on the stock in the last year is $383.08.

A number of analysts have issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Vertical Research cut Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price for the company. in a research note on Wednesday, November 6th. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Citigroup dropped their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Truist Financial upped their target price on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,001 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $358.43, for a total transaction of $717,218.43. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,456,419.29. This represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 6,490 shares of company stock worth $2,357,880. 0.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CMI. Centaurus Financial Inc. boosted its position in Cummins by 10.4% during the 2nd quarter. Centaurus Financial Inc. now owns 837 shares of the company’s stock worth $232,000 after purchasing an additional 79 shares during the period. Czech National Bank grew its stake in Cummins by 7.1% in the third quarter. Czech National Bank now owns 27,918 shares of the company’s stock worth $9,040,000 after purchasing an additional 1,854 shares in the last quarter. GAMMA Investing LLC increased its stake in Cummins by 37.3% during the third quarter. GAMMA Investing LLC now owns 2,372 shares of the company’s stock valued at $768,000 after purchasing an additional 644 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in Cummins by 1.8% in the third quarter. Azzad Asset Management Inc. ADV now owns 9,513 shares of the company’s stock worth $3,080,000 after acquiring an additional 170 shares during the last quarter. Finally, Diversified Trust Co raised its position in shares of Cummins by 36.4% during the 3rd quarter. Diversified Trust Co now owns 12,858 shares of the company’s stock worth $4,163,000 after purchasing an additional 3,429 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Trading Up 1.8 %

Shares of CMI opened at $370.03 on Monday. Cummins has a 12-month low of $236.00 and a 12-month high of $387.90. The firm has a market capitalization of $50.76 billion, a P/E ratio of 24.44, a P/E/G ratio of 1.64 and a beta of 1.00. The firm has a 50-day moving average price of $361.94 and a 200 day moving average price of $334.73. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the previous year, the firm earned $4.14 EPS. The business’s revenue was down 1.1% on a year-over-year basis. Sell-side analysts forecast that Cummins will post 20.62 EPS for the current year.

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.