Cummins Inc. (NYSE:CMI) Given Consensus Rating of “Hold” by Brokerages
Several research analysts have issued reports on the company. Credit Suisse Group upped their price target on Cummins from $266.00 to $304.00 and gave the company an “outperform” rating in a report on Friday, November 4th. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th. Citigroup upped their price target on Cummins to $270.00 in a report on Tuesday, November 15th. Morgan Stanley upped their price target on Cummins from $222.00 to $264.00 and gave the company an “equal weight” rating in a report on Wednesday, December 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Cummins from $221.00 to $225.00 and gave the company a “hold” rating in a report on Thursday, October 13th.
Cummins Stock Performance
CMI opened at $252.65 on Friday. The company has a market capitalization of $35.63 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 1.32 and a beta of 1.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.37 and a quick ratio of 0.84. Cummins has a 1-year low of $184.27 and a 1-year high of $254.09. The business has a 50 day moving average price of $244.35 and a two-hundred day moving average price of $226.14.
Cummins (NYSE:CMI – Get Rating) last released its earnings results on Thursday, November 3rd. The company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $4.88 by ($1.67). The firm had revenue of $7.33 billion during the quarter, compared to analyst estimates of $6.96 billion. Cummins had a return on equity of 22.48% and a net margin of 7.32%. Research analysts predict that Cummins will post 16.94 EPS for the current fiscal year.
Insider Buying and Selling at Cummins
In other news, insider Tracy A. Embree sold 12,535 shares of the business’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $238.17, for a total transaction of $2,985,460.95. Following the transaction, the insider now directly owns 18,436 shares in the company, valued at approximately $4,390,902.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Tracy A. Embree sold 6,804 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $240.13, for a total transaction of $1,633,844.52. Following the transaction, the insider now directly owns 18,436 shares in the company, valued at approximately $4,427,036.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Tracy A. Embree sold 12,535 shares of the business’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $238.17, for a total transaction of $2,985,460.95. Following the transaction, the insider now owns 18,436 shares in the company, valued at $4,390,902.12. The disclosure for this sale can be found here. Insiders have sold a total of 105,348 shares of company stock valued at $26,034,039 in the last three months. 1.00% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Cummins
Large investors have recently bought and sold shares of the business. West Financial Advisors LLC bought a new stake in Cummins in the third quarter worth $26,000. Charter Oak Capital Management LLC bought a new stake in Cummins in the second quarter worth $29,000. Stonebridge Capital Advisors LLC boosted its holdings in Cummins by 64.0% in the third quarter. Stonebridge Capital Advisors LLC now owns 164 shares of the company’s stock worth $33,000 after purchasing an additional 64 shares in the last quarter. Crewe Advisors LLC boosted its holdings in Cummins by 77.0% in the second quarter. Crewe Advisors LLC now owns 177 shares of the company’s stock worth $34,000 after purchasing an additional 77 shares in the last quarter. Finally, Ten Capital Wealth Advisors LLC bought a new stake in Cummins in the third quarter worth $35,000. 80.94% 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 New Power. 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 new parts and services, as well as remanufactured parts and engines.
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Read More: Cummins Inc. (NYSE:CMI) Given Consensus Rating of “Hold” by Brokerages
2023-01-15 00:34:36
