Cummins Receives Neutral Rating Amidst Market Adjustments

On a recent Friday, market analysts from Bank of America issued a revised rating for Cummins Inc. (NYSE:CMI), changing its status from a 'buy' to a 'neutral' position. Alongside the adjustment, they set a new price target for Cummins shares at $243.00, reflecting a slight decrease of 2.16% from its current trading value.

Analysts' Perspectives on Cummins

Notably, Cummins has received varying opinions from different equity analysts. For instance, JPMorgan Chase & Co. downgraded the company from 'neutral' to 'underweight' and trimmed its price target from $270.00 to $255.00. Conversely, StockNews.com elevated Cummins from a 'buy' to a 'strong-buy' rating. The company averages a 'Hold' rating from industry analysts with an expected average price target of $261.88.

Cummins' Market Performance and Earnings Report

Shares of Cummins opened at $248.37 on the Friday mentioned above. The stock has seen a 52-week low of $203.18 and a high of $265.28. Cummins flaunts a debt-to-equity ratio of 0.42, a current ratio of 1.43, and a quick ratio of 0.90. As of now, the company has a market capitalization of $35.20 billion, a P/E ratio of 12.66, a PEG ratio of 1.26, and a beta of 1.04. Cummins also reported quarterly earnings results on November 2nd with an earnings per share (EPS) of $4.73, surpassing the $4.63 consensus estimate by $0.10. During that quarter, the company reported a revenue of $8.43 billion, which exceeded the predicted $8.14 billion. Analysts project that Cummins will post 19.96 EPS for the current year.

Institutional Investments in Cummins

Several institutional investors have been adjusting their stakes in Cummins. Institutions like Birmingham Capital Management Co. Inc. AL and Sunbelt Securities Inc. have raised their shares, while others such as VisionPoint Advisory Group LLC and Banque Pictet & Cie SA have also significantly increased their holdings in Cummins.

About Cummins Inc.

Cummins Inc. operates globally, providing diesel and natural gas engines, electric and hybrid powertrains, and related components. With five main business segments—including Engine, Distribution, Components, Power Systems, and New Power—the company caters to diversified markets ranging from transportation to agriculture, reinforcing its substantial presence in the industry.

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