Shares of Cummins (NYSE:CMI) have earned a consensus rating of “Hold” from the twenty-three analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $186.00.
A number of equities analysts have recently issued reports on the stock. Deutsche Bank upgraded shares of Cummins from a “sell” rating to a “hold” rating and set a $147.00 target price on the stock in a research report on Monday, March 19th. Morgan Stanley assumed coverage on shares of Cummins in a research report on Friday, March 2nd. They set an “equal weight” rating and a $173.00 target price on the stock. Wells Fargo restated a “buy” rating and set a $195.00 target price (down from $210.00) on shares of Cummins in a research report on Thursday, February 22nd. Zacks Investment Research lowered shares of Cummins from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Finally, William Blair restated a “hold” rating on shares of Cummins in a research report on Tuesday, February 13th.
Hedge funds and other institutional investors have recently modified their holdings of the stock. IFM Investors Pty Ltd acquired a new stake in shares of Cummins during the third quarter worth $742,000. Valeo Financial Advisors LLC acquired a new stake in Cummins in the third quarter valued at $1,195,000. DnB Asset Management AS lifted its holdings in Cummins by 84.2% in the fourth quarter. DnB Asset Management AS now owns 37,406 shares of the company’s stock valued at $6,607,000 after acquiring an additional 17,100 shares during the period. Victory Capital Management Inc. lifted its holdings in Cummins by 104.5% in the fourth quarter. Victory Capital Management Inc. now owns 149,873 shares of the company’s stock valued at $26,474,000 after acquiring an additional 76,584 shares during the period. Finally, Cedar Hill Associates LLC acquired a new stake in Cummins in the third quarter valued at $300,000. 84.17% of the stock is owned by hedge funds and other institutional investors.
Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 6th. The company reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.38. The business had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.23 billion. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period last year, the firm posted $2.25 earnings per share. equities research analysts forecast that Cummins will post 12.55 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Investors of record on Friday, February 23rd were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio is presently 40.68%.
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Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.
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