Cummins Inc. (NYSE:CMI) was downgraded by equities research analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a report issued on Monday, The Fly reports.

In other news, Director Leo Allen Bruno V. Di bought 1,500 shares of Cummins stock in a transaction dated Monday, November 16th. The stock was bought at an average cost of $99.52 per share, for a total transaction of $149,280.00. Following the purchase, the director now directly owns 2,803 shares in the company, valued at approximately $278,954.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Several hedge funds have recently modified their holdings of the stock. BLB&B Advisors increased its stake in shares of Cummins by 10.4% in the fourth quarter. BLB&B Advisors now owns 3,183 shares of the company’s stock valued at $280,000 after buying an additional 300 shares in the last quarter. Raymond James Trust increased its stake in shares of Cummins by 6.6% in the fourth quarter. Raymond James Trust now owns 3,293 shares of the company’s stock valued at $290,000 after buying an additional 203 shares in the last quarter. First Financial increased its stake in shares of Cummins by 2.2% in the fourth quarter. First Financial now owns 4,640 shares of the company’s stock valued at $408,000 after buying an additional 100 shares in the last quarter. UMB Bank increased its stake in shares of Cummins by 11.4% in the fourth quarter. UMB Bank now owns 4,653 shares of the company’s stock valued at $410,000 after buying an additional 475 shares in the last quarter. Finally, Meristem purchased a new stake in shares of Cummins during the fourth quarter valued at approximately $527,000.

Shares of Cummins (NYSE:CMI) opened at 86.41 on Monday. Cummins has a one year low of $79.88 and a one year high of $147.99. The company has a market capitalization of $15.26 billion and a price-to-earnings ratio of 9.25. The stock has a 50 day moving average price of $87.62 and a 200-day moving average price of $108.73.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $2.14 EPS for the quarter, missing the Zacks’ consensus estimate of $2.60 by $0.46. During the same period last year, the firm earned $2.32 EPS. The firm earned $4.62 billion during the quarter, compared to the consensus estimate of $4.91 billion. The business’s revenue was down 5.5% compared to the same quarter last year. On average, equities research analysts expect that Cummins will post $9.04 EPS for the current year.

A number of other research analysts have also recently commented on the company. Barclays dropped their price target on Cummins from $91.00 to $88.00 and set an “underweight” rating for the company in a research note on Tuesday, January 19th. Credit Suisse decreased their price objective on Cummins from $116.00 to $98.00 in a report on Wednesday, January 13th. Jefferies Group decreased their price objective on Cummins to $100.00 and set a “hold” rating for the company in a report on Thursday, January 7th. Piper Jaffray decreased their price objective on Cummins from $123.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, January 5th. Finally, Zacks Investment Research downgraded Cummins from a “hold” rating to a “strong sell” rating in a report on Monday, January 4th. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the company’s stock. Cummins currently has a consensus rating of “Hold” and a consensus price target of $112.32.

Cummins Inc. is a global diesel engine manufacturer. The Company designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products, including filtration, after treatment, turbochargers, fuel systems, controls systems, air handling systems and electric power generation systems. It has four operating segments: Engine, Distribution, Components and Power Generation. The Company sells its products to original equipment manufacturers (NYSE:CMI), distributors and other customers. It serves its customers through a network of around 600 Company-owned and independent distributor locations and around 7,200 dealer locations in more than 190 countries. In addition, engines and engine components are manufactured by the Company’s joint ventures or independent licensees at its manufacturing plants in the United States, China, India, South Korea, Mexico and Sweden. Its subsidiaries include Cummins India Ltd. and Wuxi Cummins Turbo Technologies Co. Ltd.

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