Cummins (NYSE:CMI) Price Target Raised to $425.00

Cummins (NYSE:CMI) had its price objective lifted by analysts at Truist Financial from $424.00 to $425.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 17.73% from the company’s previous close.

CMI has been the topic of several other research reports. Bank of America upgraded shares of Cummins from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $354.00 to $358.00 in a report on Tuesday. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Jefferies Financial Group upped their target price on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a report on Friday, December 6th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $355.00 to $420.00 in a research note on Monday, December 9th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $374.25.

Cummins Trading Up 0.1 %

Shares of NYSE CMI opened at $361.00 on Thursday. The stock has a market cap of $49.52 billion, a P/E ratio of 23.84, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins has a 1 year low of $226.52 and a 1 year high of $387.90. The firm has a 50-day moving average of $362.81 and a 200 day moving average of $326.21.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the business posted $4.73 EPS. The firm’s quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts expect that Cummins will post 20.75 EPS for the current fiscal year.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the transaction, the vice president now directly owns 20,803 shares in the company, valued at approximately $7,427,503.12. This represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 6,489 shares of company stock worth $2,357,531. Insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Cummins

Several hedge funds and other institutional investors have recently modified their holdings of the business. Pathway Financial Advisers LLC grew its position in Cummins by 31,489.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after acquiring an additional 2,523,854 shares during the last quarter. International Assets Investment Management LLC grew its stake in Cummins by 38,765.8% in the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock worth $315,616,000 after acquiring an additional 972,247 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock valued at $973,174,000 after purchasing an additional 165,398 shares during the period. AXA S.A. raised its position in Cummins by 247.5% during the 2nd quarter. AXA S.A. now owns 229,051 shares of the company’s stock valued at $63,431,000 after purchasing an additional 163,129 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Cummins by 31.0% during the 2nd quarter. AQR Capital Management LLC now owns 616,876 shares of the company’s stock worth $170,831,000 after buying an additional 145,921 shares in the last quarter. 83.46% of the stock is currently 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.