Cummins (NYSE:CMI) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Cummins (NYSE:CMI) from a buy rating to a hold rating in a research report released on Friday.

Other equities analysts also recently issued research reports about the stock. Evercore ISI lifted their price objective on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and raised their target price for the company from $354.00 to $358.00 in a research note on Tuesday, January 14th. Jefferies Financial Group raised their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Truist Financial raised their target price on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, Citigroup cut their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $392.64.

Cummins Stock Performance

Cummins stock opened at $322.24 on Friday. The company has a market cap of $44.30 billion, a PE ratio of 11.44, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a fifty day moving average price of $359.39 and a two-hundred day moving average price of $347.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. Cummins has a 12 month low of $261.51 and a 12 month high of $387.90.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.14 earnings per share. Research analysts expect that Cummins will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were given a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.26%. The ex-dividend date was Friday, February 21st. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Institutional Investors Weigh In On Cummins

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Siemens Fonds Invest GmbH raised its position in Cummins by 9.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 4,433 shares of the company’s stock worth $1,545,000 after acquiring an additional 398 shares in the last quarter. Cim LLC purchased a new position in Cummins during the 4th quarter valued at about $1,532,000. Park Square Financial Group LLC acquired a new stake in shares of Cummins during the 4th quarter valued at about $45,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Cummins during the 4th quarter valued at about $45,015,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Cummins during the 4th quarter valued at about $32,000. 83.46% of the stock is currently owned by institutional investors.

About Cummins

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.