Cummins (NYSE:CMI) Given New $520.00 Price Target at Wells Fargo & Company

Cummins (NYSE:CMI) had its price target reduced by Wells Fargo & Company from $608.00 to $520.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently weighed in on CMI. DA Davidson boosted their target price on shares of Cummins from $605.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $700.00 price objective on shares of Cummins in a report on Wednesday, August 5th. Morgan Stanley lifted their target price on Cummins from $752.00 to $761.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. CICC Research began coverage on Cummins in a research report on Sunday, August 23rd. They set an “outperform” rating and a $781.00 target price for the company. Finally, Evercore cut their price target on Cummins from $845.00 to $782.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Cummins presently has an average rating of “Moderate Buy” and a consensus target price of $674.53.

Cummins Price Performance

CMI stock traded up $1.98 during midday trading on Friday, reaching $450.56. 2,167,833 shares of the company’s stock traded hands, compared to its average volume of 1,134,200. The company has a 50-day simple moving average of $526.45 and a two-hundred day simple moving average of $599.60. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.48. Cummins has a 1-year low of $443.62 and a 1-year high of $737.76. The company has a market cap of $62.02 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 1.32 and a beta of 1.26.

Cummins (NYSE:CMI) last announced its earnings results on Thursday, November 5th. The company reported $8.25 EPS for the quarter, topping the consensus estimate of $8.20 by $0.05. The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.89 billion. Cummins had a return on equity of 25.29% and a net margin of 7.82%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.59 earnings per share. On average, analysts anticipate that Cummins will post 29.98 earnings per share for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, November 20th will be paid a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, November 20th. Cummins’s dividend payout ratio is presently 44.97%.

Insiders Place Their Bets

In other news, VP Earl Newsome sold 698 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $572.22, for a total value of $399,409.56. Following the completion of the transaction, the vice president owned 4,479 shares of the company’s stock, valued at $2,562,973.38. The trade was a 13.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Cummins in the 2nd quarter valued at approximately $8,204,241,000. Bank of America Corp DE acquired a new position in shares of Cummins in the second quarter valued at approximately $1,408,353,000. Bank of New York Mellon Corp bought a new stake in shares of Cummins during the second quarter worth $973,198,000. Legal & General Group Plc bought a new stake in shares of Cummins during the second quarter worth $666,635,000. Finally, Vontobel Holding Ltd. raised its holdings in shares of Cummins by 1,436.1% during the third quarter. Vontobel Holding Ltd. now owns 584,674 shares of the company’s stock worth $302,025,000 after acquiring an additional 546,613 shares during the period. 83.46% of the stock is currently owned by institutional investors.

Cummins News Roundup

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Third-quarter EPS of $8.25 edged past the $8.20 consensus, and revenue rose 13.5% year over year to $9.44 billion. The company also pointed to strong data-center demand, recovering shipments and capacity expansion as growth supports. Cummins Q3 Earnings Call Highlights Power Demand and Truck Weakness
• Neutral Sentiment: Citigroup, Truist Financial and Wells Fargo cut their price targets, but maintained buy or overweight ratings. Their revised targets still imply upside from the quoted share price, tempering—but not erasing—the signal from the reductions. Citigroup recommendations Truist Financial recommendations Wells Fargo recommendations
• Negative Sentiment: Cummins lowered its FY2026 revenue guidance to $37.0 billion, below the roughly $37.7 billion consensus, citing pickup-truck weakness. Third-quarter revenue also fell short of analyst expectations, raising concern that softer vehicle demand could offset strength in data-center-related business. Cummins Q3 profit more than doubles; cuts FY26 revenue outlook

Cummins Company Profile

Cummins Inc is a global power technology company founded in 1919 and headquartered in Columbus, Indiana. It designs, manufactures, distributes and services products used in commercial vehicles, industrial equipment, power generation and other applications.

The company’s offerings include diesel and natural gas engines, power generation systems, and components such as filtration, turbochargers and emissions-control systems. Through its Accelera business, Cummins also develops technologies including batteries, fuel cells and electrolyzers for lower-emission power and transportation.

Cummins serves customers in markets around the world through manufacturing operations, distribution networks and service locations.