Cummins Inc. (NYSE:CMI) shares traded -7.47% lower at $242.64 on Wall Street last session.
In accordance with the data, 23 analysts cover Cummins Inc. (NYSE:CMI). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $290.00 and a low of $216.00, we find $261.00. Given the previous closing price of $262.22, this indicates a potential downside of -0.47 percent. CMI stock price is now 1.48% away from the 50-day moving average and 1.51% away from the 200-day moving average. The market capitalization of the company currently stands at $34.32B.
It has been rated a hold by 15 analysts and a buy by 6. Brokers who have rated the stock have averaged $257.40 as their price target over the next twelve months.
In other news, Fier Walter J, VP – Chief Technical Officer sold 3,307 shares of the company’s stock on Feb 22. The stock was sold for $836,652 at an average price of $252.99. Upon completion of the transaction, the VP – Chief Technical Officer now directly owns 8,090 shares in the company, valued at $1.96 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 17, VP – Chief Administrative Off. Barner Sharon R sold 5,929 shares of the business’s stock. A total of $1,524,553 was realized by selling the stock at an average price of $257.13. This leaves the insider owning 16,144 shares of the company worth $3.92 million. Insiders disposed of 242,920 shares of company stock worth roughly $58.94 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CMI stock. A new stake in Cummins Inc. shares was purchased by QUBE RESEARCH & TECHNOLOGIES LTD during the first quarter worth $80,414,000. ERGOTELES LLC invested $42,977,000 in shares of CMI during the first quarter. In the first quarter, EXODUSPOINT CAPITAL MANAGEMENT, LP acquired a new stake in Cummins Inc. valued at approximately $24,059,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. acquired a new stake in CMI for approximately $19,461,000. TWINBEECH CAPITAL LP purchased a new stake in CMI valued at around $12,969,000 in the second quarter. In total, there are 1,742 active investors with 85.40% ownership of the company’s stock.
Cummins Inc. (NYSE: CMI) opened at $237.14 on Thursday. During the past 12 months, Cummins Inc. has had a low of $200.40 and a high of $265.28. As of last week, the company has a debt-to-equity ratio of 0.81, a current ratio of 1.30, and a quick ratio of 0.80. According to the stock market information, the enterprise value for the company is $43.32B, which is based on a 13.68 price-to-earnings ratio, a 1.14 price-to-earnings-growth ratio, and a beta of 1.06. The fifty day moving average price for CMI is $239.59 and a two-hundred day moving average price translates $239.16 for the stock.
The latest earnings results from Cummins Inc. (NYSE: CMI) was released for Mar, 2023. According to the Specialty Industrial Machinery Company, earnings per share came in at $5.55, beating analysts’ expectations of $4.75 by 0.8. This compares to $2.96 EPS in the same period last year. The net profit margin was 8.40% and return on equity was 28.30% for CMI. The company reported revenue of $8.45 billion for the quarter, compared to $6.38 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 32.39 percent. For the current quarter, analysts expect CMI to generate $8.37B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/07/2023. Investors who held shares on 08/25/2023 were paid a $1.68 dividend. On an annualized basis, this represents a $6.72 dividend and a 2.77% percent yield. There was an ex-dividend date of 08/24/2023 for this dividend. In terms of dividend payout ratio, CMI is presently at 34.50%.
Cummins Inc.(CMI) Company Profile
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. It also provides power generation systems, high-horsepower engines, heavy and medium duty engines, application engineering services, custom-designed assemblies, retail and wholesale aftermarket parts, and in-shop and field-based repair services. In addition, the company offers emission solutions; turbochargers; air and fuel filters, fuel water separators, lube and hydraulic filters, coolants, fuel additives, and other filtration systems; and electronic control modules, sensors, and supporting software, as well as new, replacement, and remanufactured fuel systems. Further, it provides automated transmissions; standby and prime power generators, controls, paralleling systems, and transfer switches, as well as A/C generator/alternator products under the Stamford and AVK brands; and electrified power systems with components and subsystems, including battery, fuel cell, and hydrogen production technologies. Additionally, it offers filtration, aftertreatment, controls systems, air handling systems, automated transmissions, electric power generation systems, and batteries. The company sells its products to original equipment manufacturers, distributors, dealers, and other customers. The company was formerly known as Cummins Engine Company and changed its name to Cummins Inc. in 2001. Cummins Inc. was founded in 1919 and is headquartered in Columbus, Indiana.
