Cummins Inc. (NYSE:CMI) VP Sells $1,113,016.80 in Stock

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 3,880 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the completion of the sale, the vice president now owns 20,873 shares in the company, valued at approximately $5,987,628.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Cummins Trading Up 0.7 %

Shares of CMI stock opened at $288.97 on Thursday. The stock’s fifty day simple moving average is $286.11 and its 200 day simple moving average is $253.84. The company has a quick ratio of 0.84, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. Cummins Inc. has a twelve month low of $203.18 and a twelve month high of $304.24. The firm has a market capitalization of $39.53 billion, a P/E ratio of 21.15, a P/E/G ratio of 1.90 and a beta of 1.04.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). Cummins had a return on equity of 25.38% and a net margin of 5.70%. The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same quarter last year, the firm posted $4.52 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, sell-side analysts predict that Cummins Inc. will post 18.45 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were issued a dividend of $1.68 per share. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s payout ratio is 49.19%.

Institutional Trading of Cummins

Several hedge funds have recently modified their holdings of the stock. First United Bank & Trust acquired a new position in shares of Cummins during the fourth quarter valued at about $25,000. Private Wealth Management Group LLC acquired a new position in Cummins during the 4th quarter worth approximately $26,000. JNBA Financial Advisors boosted its holdings in Cummins by 1,111.1% in the first quarter. JNBA Financial Advisors now owns 109 shares of the company’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of Cummins during the third quarter valued at approximately $25,000. Finally, Silver Oak Securities Incorporated acquired a new position in shares of Cummins during the third quarter worth approximately $28,000. Institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CMI shares. TD Cowen raised their target price on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group increased their price target on Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $254.00 to $321.00 in a research report on Friday, March 15th. Citigroup raised their target price on shares of Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, Truist Financial lifted their price target on Cummins from $303.00 to $319.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $282.55.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.