Cummins Inc. (NYSE:CMI) has received a consensus rating of “Hold” from the twenty-five ratings firms that are presently covering the firm. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $113.22.
Several equities analysts have recently issued reports on the company. William Blair set a $110.00 target price on Cummins and gave the company a “hold” rating in a report on Thursday, September 8th. Jefferies Group upped their target price on Cummins from $115.00 to $120.00 and gave the company a “hold” rating in a report on Thursday, September 1st. Standpoint Research lowered Cummins from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $114.00 target price on shares of Cummins in a report on Monday, September 12th. Finally, Citigroup Inc. upped their target price on Cummins from $115.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, August 3rd.
In related news, VP Thaddeus B. Ewald sold 820 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $126.95, for a total value of $104,099.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Pat Ward sold 5,000 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $127.50, for a total value of $637,500.00. Following the completion of the transaction, the chief financial officer now directly owns 3,024 shares in the company, valued at approximately $385,560. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Manhattan Co. boosted its position in shares of Cummins by 8.0% in the second quarter. First Manhattan Co. now owns 957 shares of the company’s stock worth $107,000 after buying an additional 71 shares during the period. BlueMountain Capital Management LLC bought a new position in shares of Cummins during the second quarter worth about $109,000. Signaturefd LLC boosted its position in shares of Cummins by 17.1% in the second quarter. Signaturefd LLC now owns 1,111 shares of the company’s stock worth $125,000 after buying an additional 162 shares during the period. Kanaly Trust Co boosted its position in shares of Cummins by 3.1% in the second quarter. Kanaly Trust Co now owns 1,114 shares of the company’s stock worth $125,000 after buying an additional 34 shares during the period. Finally, FCM Investments TX boosted its position in shares of Cummins by 33.3% in the second quarter. FCM Investments TX now owns 1,200 shares of the company’s stock worth $135,000 after buying an additional 300 shares during the period. 81.36% of the stock is currently owned by institutional investors and hedge funds.
Cummins (NYSE:CMI) traded down 0.27% during trading on Tuesday, reaching $127.51. The company’s stock had a trading volume of 454,388 shares. The company has a market cap of $21.42 billion, a price-to-earnings ratio of 17.46 and a beta of 1.46. Cummins has a 12 month low of $79.88 and a 12 month high of $129.26. The stock’s 50 day moving average is $122.87 and its 200 day moving average is $116.87.
Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.25. The firm earned $4.50 billion during the quarter, compared to analyst estimates of $4.50 billion. Cummins had a return on equity of 19.48% and a net margin of 6.97%. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.62 EPS. On average, equities analysts expect that Cummins will post $8.14 EPS for the current fiscal year.
Cummins Company Profile
Cummins Inc is a manufacturer of diesel engines. The Company operates through four segments: Engine, Distribution, Components and Power Generation. Its Engine segment manufactures and markets a range of diesel and natural gas-powered engines under the Cummins brand name, as well as certain customer brand names for the heavy-and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive, agricultural and governmental equipment markets.
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