Cummins Inc. (NYSE:CMI) Receives $513.07 Average Price Target from Brokerages

Cummins Inc. (NYSE:CMI) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $520.7857.

CMI has been the topic of a number of research reports. Truist Financial upped their target price on Cummins from $628.00 to $653.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Argus boosted their price target on shares of Cummins from $459.00 to $573.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cummins in a research note on Monday, December 29th. UBS Group upgraded shares of Cummins from a “sell” rating to a “neutral” rating in a report on Tuesday, November 25th. Finally, Wall Street Zen upgraded shares of Cummins from a “hold” rating to a “buy” rating in a report on Saturday, November 15th.

Insider Transactions at Cummins

In other news, insider Brett Michael Merritt sold 1,450 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $489.32, for a total value of $709,514.00. Following the completion of the sale, the insider directly owned 9,271 shares of the company’s stock, valued at $4,536,485.72. This represents a 13.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Andrew Smith sold 13,110 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $470.66, for a total value of $6,170,352.60. Following the sale, the chief financial officer owned 31,582 shares of the company’s stock, valued at $14,864,384.12. This trade represents a 29.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 19,330 shares of company stock valued at $9,135,364 over the last ninety days. 0.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Thompson Investment Management Inc. bought a new position in shares of Cummins during the 4th quarter worth approximately $26,000. Flagship Wealth Advisors LLC purchased a new position in Cummins in the third quarter worth $28,000. Osterweis Capital Management Inc. bought a new position in Cummins in the 2nd quarter valued at $31,000. Holos Integrated Wealth LLC purchased a new stake in shares of Cummins during the 4th quarter valued at $32,000. Finally, Palouse Capital Management Inc. bought a new stake in shares of Cummins during the 4th quarter worth $33,000. 83.46% of the stock is owned by institutional investors.

Cummins Price Performance

CMI stock opened at $571.34 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.77 and a quick ratio of 1.11. The company’s 50-day moving average is $520.97 and its 200-day moving average is $444.67. The stock has a market capitalization of $78.87 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.04 and a beta of 1.12. Cummins has a 1 year low of $260.02 and a 1 year high of $587.55.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Thursday, November 6th. The company reported $5.59 earnings per share for the quarter, topping analysts’ consensus estimates of $4.83 by $0.76. Cummins had a return on equity of 26.02% and a net margin of 7.95%.The business had revenue of $8.32 billion for the quarter, compared to the consensus estimate of $7.97 billion. During the same period in the prior year, the business earned $5.86 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities research analysts expect that Cummins will post 22.54 EPS for the current fiscal year.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.