Company Update (NYSE:CMI): Cummins Inc. Declares Quarterly Common Stock Dividend
The Board of Directors of Cummins Inc. (NYSE:CMI) declared a quarterly common stock cash dividend of 97.5 cents per share, payable on March 1, 2016, to shareholders of record on February 19, 2016. (Original Source)
Shares of Cummins closed today at $99.70, up $1.27 or 1.29%. CMI has a 1-year high of $146.13 and a 1-year low of $79.88. The stock’s 50-day moving average is $88.31 and its 200-day moving average is $104.54.
On the ratings front, Cummins has been the subject of a number of recent research reports. In a report issued on February 5, Deutsche Bank analyst Vishal Shah reiterated a Hold rating on CMI, with a price target of $93, which represents a potential downside of 6.7% from where the stock is currently trading. Separately, on February 4, William Blair’s Lawrence De Maria reiterated a Hold rating on the stock and has a price target of $95.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Vishal Shah and Lawrence De Maria have a total average return of -21.1% and -7.7% respectively. Shah has a success rate of 23.7% and is ranked #3530 out of 3556 analysts, while Maria has a success rate of 30.8% and is ranked #3029.
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines, electric power generation systems and engine-related component products.