Several other research analysts have also commented on CMI. Zacks Investment Research upgraded Cummins from a hold rating to a buy rating and set a $188.00 price target for the company in a research report on Monday, October 2nd. Oppenheimer began coverage on Cummins in a research report on Thursday, December 7th. They set an outperform rating and a $192.00 price target for the company. Stifel Nicolaus restated a hold rating and set a $190.00 price target (up from $186.00) on shares of Cummins in a research report on Wednesday, November 1st. Citigroup raised their price target on Cummins from $175.00 to $183.00 and gave the stock a neutral rating in a research report on Friday, October 13th. Finally, Robert W. Baird restated a sell rating and set a $153.00 price target on shares of Cummins in a research report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. Cummins presently has an average rating of Hold and an average target price of $178.69.
Cummins (NYSE:CMI) opened at $169.58 on Friday. Cummins has a 52-week low of $134.06 and a 52-week high of $181.79. The company has a market capitalization of $28,342.27, a price-to-earnings ratio of 17.34, a PEG ratio of 1.41 and a beta of 1.13. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.57.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Thursday, November 16th. Cummins’s dividend payout ratio is presently 43.86%.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Cummins by 2.6% during the second quarter. Vanguard Group Inc. now owns 11,614,316 shares of the company’s stock worth $1,884,074,000 after purchasing an additional 298,352 shares in the last quarter. BlackRock Inc. increased its position in shares of Cummins by 4.1% during the second quarter. BlackRock Inc. now owns 10,633,275 shares of the company’s stock worth $1,724,930,000 after purchasing an additional 422,135 shares in the last quarter. American Century Companies Inc. increased its position in shares of Cummins by 2.9% during the second quarter. American Century Companies Inc. now owns 2,710,712 shares of the company’s stock worth $439,732,000 after purchasing an additional 77,116 shares in the last quarter. Boston Partners acquired a new stake in shares of Cummins during the third quarter worth about $416,229,000. Finally, First Eagle Investment Management LLC increased its position in shares of Cummins by 2.0% during the third quarter. First Eagle Investment Management LLC now owns 1,997,863 shares of the company’s stock worth $335,701,000 after purchasing an additional 39,674 shares in the last quarter. Institutional investors own 82.50% of the company’s stock.
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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