Insider Selling: Cummins (NYSE:CMI) VP Sells 4,054 Shares of Stock

Cummins Inc. (NYSE:CMI) VP Amy Rochelle Davis sold 4,054 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total value of $2,275,672.36. Following the completion of the transaction, the vice president owned 15,807 shares in the company, valued at $8,873,101.38. This trade represents a 20.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Amy Rochelle Davis also recently made the following trade(s):

• On Monday, February 23rd, Amy Rochelle Davis sold 1,864 shares of Cummins stock. The shares were sold at an average price of $586.64, for a total transaction of $1,093,496.96.

Cummins Stock Up 1.5%

Cummins stock traded up $8.63 during mid-day trading on Wednesday, hitting $568.72. 443,043 shares of the company’s stock were exchanged, compared to its average volume of 1,000,504. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $617.98. The stock has a 50 day moving average of $568.58 and a two-hundred day moving average of $488.03. 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 stock has a market cap of $78.57 billion, a P/E ratio of 27.72, a P/E/G ratio of 1.84 and a beta of 1.12.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the prior year, the firm posted $5.16 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Friday, February 20th will be paid a $2.00 dividend. The ex-dividend date is Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a yield of 1.4%. Cummins’s dividend payout ratio (DPR) is presently 38.99%.

Analysts Set New Price Targets

A number of research firms have recently commented on CMI. Robert W. Baird set a $580.00 price objective on Cummins in a research note on Friday, February 6th. Wolfe Research lowered Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price target for the company. in a report on Monday, January 26th. Sanford C. Bernstein set a $600.00 price objective on shares of Cummins and gave the stock a “market perform” rating in a research note on Friday, February 6th. Raymond James Financial upped their target price on shares of Cummins from $585.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a report on Monday, December 29th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Cummins presently has a consensus rating of “Moderate Buy” and a consensus price target of $588.93.

Institutional Trading of Cummins

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cummins by 8.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,031 shares of the company’s stock worth $13,107,000 after buying an additional 2,417 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Cummins by 2.1% in the 3rd quarter. New York State Teachers Retirement System now owns 111,911 shares of the company’s stock valued at $47,268,000 after acquiring an additional 2,305 shares during the period. Bailard Inc. boosted its stake in Cummins by 7.2% during the 3rd quarter. Bailard Inc. now owns 59,830 shares of the company’s stock worth $25,270,000 after acquiring an additional 4,035 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Cummins by 6.7% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 277,958 shares of the company’s stock valued at $91,054,000 after purchasing an additional 17,566 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Cummins by 2.8% in the third quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company’s stock valued at $1,422,121,000 after purchasing an additional 91,956 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

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.