Cummins Inc. (NYSE:CMI) VP Sells $57,840.48 in Stock

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $357.04, for a total value of $57,840.48. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,427,503.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cummins Price Performance

Shares of CMI stock traded down $2.83 during trading hours on Tuesday, hitting $355.60. 152,208 shares of the company’s stock were exchanged, compared to its average volume of 1,490,231. The business’s 50 day simple moving average is $323.90 and its 200-day simple moving average is $299.69. Cummins Inc. has a 12-month low of $216.91 and a 12-month high of $370.21. The company has a market capitalization of $48.78 billion, a PE ratio of 23.67, a PEG ratio of 1.77 and a beta of 0.97. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter last year, the business posted $4.73 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities research analysts anticipate that Cummins Inc. will post 20.32 earnings per share for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be given a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 2.05%. Cummins’s dividend payout ratio (DPR) is presently 48.08%.

Hedge Funds Weigh In On Cummins

Hedge funds have recently modified their holdings of the company. PFG Investments LLC lifted its stake in Cummins by 27.7% in the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after purchasing an additional 485 shares in the last quarter. CWM LLC boosted its holdings in Cummins by 17.4% during the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after acquiring an additional 1,786 shares during the period. Distillate Capital Partners LLC raised its stake in shares of Cummins by 109,309.3% during the second quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock valued at $16,361,000 after acquiring an additional 59,027 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Cummins during the 2nd quarter worth about $16,329,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Cummins by 13.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 186,913 shares of the company’s stock worth $55,073,000 after purchasing an additional 21,850 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on CMI shares. Citigroup boosted their price objective on Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Truist Financial increased their price target on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. The Goldman Sachs Group increased their price target on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised their price target on Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research note on Friday, October 11th. Finally, Robert W. Baird raised their target price on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $324.83.

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.