Piper Jaffray Companies set a $159.00 price target on Cummins Inc. (NYSE:CMI) in a research note issued to investors on Monday. The firm currently has a hold rating on the stock.

Several other equities analysts have also recently weighed in on CMI. Deutsche Bank AG lifted their price objective on Cummins from $139.00 to $142.00 and gave the company a sell rating in a report on Tuesday, July 4th. Seaport Global Securities reissued a neutral rating on shares of Cummins in a research report on Tuesday, July 4th. Royal Bank Of Canada reissued a hold rating and issued a $166.00 target price on shares of Cummins in a research report on Wednesday, July 12th. Zacks Investment Research lowered Cummins from a buy rating to a hold rating in a research report on Wednesday, July 12th. Finally, ValuEngine lowered Cummins from a buy rating to a hold rating in a research report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Cummins presently has an average rating of Hold and a consensus price target of $164.91.

Cummins (NYSE CMI) opened at 175.02 on Monday. The firm has a market cap of $29.23 billion, a P/E ratio of 19.78 and a beta of 1.13. Cummins has a one year low of $121.22 and a one year high of $175.71. The stock has a 50 day moving average price of $167.60 and a 200-day moving average price of $159.80.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, August 1st. The company reported $2.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.58 by ($0.05). Cummins had a net margin of 8.10% and a return on equity of 20.67%. The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the firm earned $2.40 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts predict that Cummins will post $7.98 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Piper Jaffray Companies Analysts Give Cummins Inc. (CMI) a $159.00 Price Target” was first reported by Daily Political and is owned by of Daily Political. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark laws. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2017/10/19/piper-jaffray-companies-analysts-give-cummins-inc-cmi-a-159-00-price-target.html.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Thursday, November 16th. Cummins’s dividend payout ratio (DPR) is 48.76%.

In other Cummins news, Director Franklin R. Changdiaz sold 1,633 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $159.27, for a total transaction of $260,087.91. Following the transaction, the director now owns 5,814 shares of the company’s stock, valued at approximately $925,995.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tony Satterthwaite sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $169.00, for a total value of $676,000.00. Following the transaction, the insider now directly owns 41,902 shares in the company, valued at approximately $7,081,438. The disclosure for this sale can be found here. Insiders have sold a total of 17,633 shares of company stock worth $2,942,108 in the last ninety days. Insiders own 0.62% of the company’s stock.

Large investors have recently bought and sold shares of the business. AJO LP increased its position in shares of Cummins by 11,096.3% during the 2nd quarter. AJO LP now owns 1,149,856 shares of the company’s stock worth $186,530,000 after purchasing an additional 1,139,586 shares during the last quarter. AGF Investments America Inc. increased its position in shares of Cummins by 41.5% during the 2nd quarter. AGF Investments America Inc. now owns 38,653 shares of the company’s stock worth $6,270,000 after purchasing an additional 11,338 shares during the last quarter. Bank of America Corp DE increased its position in shares of Cummins by 8.6% during the 1st quarter. Bank of America Corp DE now owns 780,787 shares of the company’s stock worth $118,055,000 after purchasing an additional 62,046 shares during the last quarter. Delta Lloyd Asset Management N.V. acquired a new position in shares of Cummins during the 2nd quarter worth approximately $3,466,000. Finally, Janus Capital Management LLC increased its position in shares of Cummins by 64.5% during the 1st quarter. Janus Capital Management LLC now owns 612,242 shares of the company’s stock worth $92,571,000 after purchasing an additional 240,040 shares during the last quarter. 80.31% of the stock is currently owned by hedge funds and other institutional investors.

About Cummins

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.

Analyst Recommendations for Cummins (NYSE:CMI)

Receive News & Ratings for Cummins Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins Inc. and related companies with MarketBeat.com's FREE daily email newsletter.