Cummins (NYSE:CMI) VP Donald Jackson Sells 3,390 Shares

Cummins Inc. (NYSE:CMI) VP Donald Jackson sold 3,390 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $402.17, for a total value of $1,363,356.30. Following the sale, the vice president owned 7,214 shares of the company’s stock, valued at approximately $2,901,254.38. This represents a 31.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cummins Stock Performance

CMI stock traded down $13.65 during trading hours on Thursday, hitting $580.76. 51,089 shares of the stock were exchanged, compared to its average volume of 976,568. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $617.98. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $80.24 billion, a P/E ratio of 28.44, a P/E/G ratio of 1.90 and a beta of 1.13. The company has a 50-day simple moving average of $563.23 and a two-hundred day simple moving average of $482.42.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same period in the previous year, the company posted $5.16 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Friday, February 20th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $8.00 annualized dividend and a yield of 1.4%. Cummins’s payout ratio is presently 38.99%.

Institutional Trading of Cummins

Several hedge funds have recently modified their holdings of the stock. Nicolet Advisory Services LLC boosted its position in shares of Cummins by 1.6% during the 4th quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock worth $619,000 after purchasing an additional 17 shares in the last quarter. Frank Rimerman Advisors LLC grew its stake in Cummins by 0.5% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock valued at $1,908,000 after acquiring an additional 18 shares during the period. Financial Consulate Inc. increased its holdings in shares of Cummins by 16.8% during the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock valued at $64,000 after acquiring an additional 18 shares in the last quarter. ICW Investment Advisors LLC raised its position in shares of Cummins by 2.6% during the fourth quarter. ICW Investment Advisors LLC now owns 723 shares of the company’s stock worth $369,000 after purchasing an additional 18 shares during the period. Finally, Gilbert & Cook Inc. lifted its holdings in shares of Cummins by 1.0% in the 4th quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company’s stock worth $947,000 after purchasing an additional 19 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

CMI has been the topic of a number of research reports. Wolfe Research cut shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 target price on the stock. in a research note on Monday, January 26th. Raymond James Financial boosted their price objective on Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Sanford C. Bernstein set a $600.00 target price on Cummins and gave the company a “market perform” rating in a research report on Friday, February 6th. Morgan Stanley reissued an “overweight” rating and set a $675.00 price target on shares of Cummins in a research note on Friday, February 6th. Finally, Zacks Research downgraded Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and a consensus price target of $588.93.

About Cummins

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.