CMI has been the topic of a number of other research reports. Bank of America raised shares of Cummins from a neutral rating to a buy rating and set a $215.00 price objective on the stock in a research report on Friday, January 19th. BMO Capital Markets boosted their target price on shares of Cummins from $185.00 to $190.00 and gave the stock a market perform rating in a research report on Wednesday, November 8th. Argus boosted their target price on shares of Cummins from $172.00 to $195.00 and gave the stock a buy rating in a research report on Monday, November 6th. Jefferies Group boosted their target price on shares of Cummins from $165.00 to $180.00 and gave the stock a hold rating in a research report on Wednesday, November 1st. Finally, Piper Jaffray Companies set a $170.00 target price on shares of Cummins and gave the stock a hold rating in a research report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $188.18.
Cummins (NYSE:CMI) opened at $165.60 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.01. Cummins has a 12-month low of $143.83 and a 12-month high of $194.18. The stock has a market cap of $27,480.00, a P/E ratio of 27.88, a PEG ratio of 1.16 and a beta of 1.14.
Cummins (NYSE:CMI) last issued its quarterly earnings data 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. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter in the previous year, the firm earned $2.25 EPS. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. research analysts forecast that Cummins will post 12.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Friday, February 23rd will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is currently 72.73%.
Several hedge funds have recently added to or reduced their stakes in CMI. Macquarie Group Ltd. boosted its holdings in shares of Cummins by 466.3% in the 2nd quarter. Macquarie Group Ltd. now owns 49,835 shares of the company’s stock valued at $8,084,000 after acquiring an additional 41,035 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Cummins by 383.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 25,600 shares of the company’s stock valued at $4,153,000 after acquiring an additional 20,300 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Cummins by 28.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,589 shares of the company’s stock valued at $744,000 after acquiring an additional 1,030 shares during the last quarter. Koch Industries Inc. purchased a new stake in shares of Cummins in the 2nd quarter valued at $318,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Cummins by 18.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 85,603 shares of the company’s stock valued at $13,887,000 after acquiring an additional 13,253 shares during the last quarter. 83.06% of the stock is currently owned by institutional investors and hedge funds.
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Cummins Company Profile
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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