Cummins’ (CMI) Hold Rating Reiterated at Barclays

Barclays reaffirmed their hold rating on shares of Cummins (NYSE:CMI) in a research note released on Wednesday, AnalystRatings.com reports. They currently have a $159.00 price target on the stock.

A number of other equities analysts have also weighed in on the company. Loop Capital lowered Cummins from a hold rating to a sell rating and reduced their price objective for the company from $168.00 to $145.00 in a research note on Tuesday, July 2nd. Morgan Stanley reduced their price objective on Cummins from $167.00 to $162.00 and set an equal weight rating for the company in a research note on Wednesday, July 31st. Credit Suisse Group lifted their price objective on Cummins from $198.00 to $203.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Standpoint Research lowered Cummins from a buy rating to a hold rating in a research note on Tuesday, July 16th. Finally, ValuEngine lowered Cummins from a hold rating to a sell rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $166.61.

Shares of CMI opened at $170.28 on Wednesday. The stock has a 50-day moving average of $159.21 and a two-hundred day moving average of $161.65. The stock has a market cap of $26.87 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.69 and a beta of 1.14. Cummins has a one year low of $124.40 and a one year high of $175.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.04 and a current ratio of 1.66.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $4.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.38 by ($0.11). The company had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.36 billion. Cummins had a net margin of 10.74% and a return on equity of 29.75%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.14 EPS. Analysts predict that Cummins will post 15.81 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be paid a $1.311 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $5.24 annualized dividend and a dividend yield of 3.08%. Cummins’s dividend payout ratio is presently 39.61%.

A number of large investors have recently bought and sold shares of the business. Montecito Bank & Trust increased its stake in Cummins by 2.8% during the 3rd quarter. Montecito Bank & Trust now owns 3,238 shares of the company’s stock worth $527,000 after buying an additional 89 shares in the last quarter. Bailard Inc. increased its stake in Cummins by 4.0% during the 3rd quarter. Bailard Inc. now owns 18,773 shares of the company’s stock worth $3,054,000 after buying an additional 723 shares in the last quarter. Alpha Cubed Investments LLC boosted its holdings in shares of Cummins by 16.1% during the 3rd quarter. Alpha Cubed Investments LLC now owns 1,445 shares of the company’s stock worth $235,000 after purchasing an additional 200 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of Cummins during the 3rd quarter worth approximately $204,000. Finally, Occidental Asset Management LLC boosted its holdings in shares of Cummins by 16.1% during the 3rd quarter. Occidental Asset Management LLC now owns 5,039 shares of the company’s stock worth $820,000 after purchasing an additional 700 shares during the last quarter. Institutional investors own 82.34% of the company’s stock.

About Cummins

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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