Cummins (NYSE:CMI) Price Target Raised to $761.00 at Morgan Stanley

Cummins (NYSE:CMI) had its target price upped by equities research analysts at Morgan Stanley from $752.00 to $761.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 16.79% from the stock’s previous close.

Several other brokerages also recently commented on CMI. Robert W. Baird set a $700.00 target price on Cummins in a report on Wednesday, May 6th. Evercore restated an “outperform” rating and set a $845.00 price objective on shares of Cummins in a research report on Monday, May 11th. Weiss Ratings lowered Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Wells Fargo & Company increased their target price on shares of Cummins from $794.00 to $874.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $740.07.

Cummins Trading Up 0.6%

NYSE:CMI traded up $3.74 during mid-day trading on Friday, hitting $651.57. 468,643 shares of the company’s stock were exchanged, compared to its average volume of 959,511. Cummins has a fifty-two week low of $344.02 and a fifty-two week high of $737.76. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $89.91 billion, a P/E ratio of 33.80, a PEG ratio of 1.63 and a beta of 1.22. The company has a 50 day simple moving average of $677.66 and a 200-day simple moving average of $614.02.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.52. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $5.96 EPS. As a group, research analysts expect that Cummins will post 29.35 earnings per share for the current year.

Insider Activity

In related news, CAO Nicole Lamb-Hale sold 2,408 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $685.34, for a total transaction of $1,650,298.72. Following the transaction, the chief accounting officer directly owned 14,084 shares of the company’s stock, valued at approximately $9,652,328.56. This represents a 14.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald G. Jackson sold 730 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the transaction, the vice president owned 8,316 shares in the company, valued at approximately $5,912,010.72. The trade was a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 13,579 shares of company stock valued at $9,377,684. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Cummins

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Cummins by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock worth $9,058,841,000 after purchasing an additional 98,544 shares during the period. State Street Corp increased its stake in Cummins by 0.8% during the 4th quarter. State Street Corp now owns 6,509,852 shares of the company’s stock valued at $3,322,954,000 after purchasing an additional 49,628 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cummins by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock worth $1,822,534,000 after buying an additional 35,286 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Cummins by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock worth $1,741,004,000 after buying an additional 43,722 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cummins by 10,317.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock valued at $1,254,929,000 after buying an additional 2,434,876 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins News Summary

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Zacks Research lifted its Q3 2027 earnings estimate for Cummins (NYSE: CMI), reinforcing optimism around near-term profit trends.
• Positive Sentiment: Cummins was recently upgraded to Buy by Zacks, indicating improving analyst sentiment and potential upside from earnings strength. Article
• Neutral Sentiment: Several research notes made only small adjustments to longer-term earnings forecasts for Cummins (NYSE: CMI), suggesting analysts are still broadly comfortable with the company’s outlook. Article
• Neutral Sentiment: Commentary around Cummins’ upcoming earnings report points to a history of beating estimates, but no new operating update was provided. Article
• Negative Sentiment: Zacks trimmed its FY2027, Q4 2027, Q1 2028, Q2 2028 and FY2028 EPS estimates slightly, which may create some caution around longer-term earnings growth. Article

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.