Cummins Inc. (NYSE:CMI) VP Sells $784,065.87 in Stock

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total transaction of $784,065.87. Following the transaction, the vice president now owns 20,803 shares in the company, valued at $7,540,879.47. This represents a 9.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Cummins Stock Down 0.6 %

NYSE CMI traded down $2.18 during trading hours on Friday, reaching $361.55. 169,349 shares of the company’s stock traded hands, compared to its average volume of 1,479,453. The firm has a market cap of $49.60 billion, a PE ratio of 24.13, a PEG ratio of 1.79 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins Inc. has a 52-week low of $220.02 and a 52-week high of $370.21. The firm has a 50-day simple moving average of $327.55 and a 200 day simple moving average of $301.04.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period last year, the company earned $4.73 earnings per share. The company’s revenue was up .3% on a year-over-year basis. Sell-side analysts anticipate that Cummins Inc. will post 20.61 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins’s dividend payout ratio (DPR) is 48.08%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $294.00 to $408.00 in a report on Wednesday. Vertical Research lowered Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a report on Wednesday, November 6th. Barclays raised their target price on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. The Goldman Sachs Group upped their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Citigroup lifted their price objective on shares of Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $334.33.

Institutional Trading of Cummins

A number of institutional investors have recently made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Cummins during the 2nd quarter valued at about $28,000. Cultivar Capital Inc. purchased a new stake in Cummins during the second quarter valued at approximately $28,000. Lynx Investment Advisory bought a new position in Cummins in the second quarter worth approximately $29,000. LRI Investments LLC purchased a new position in shares of Cummins during the 1st quarter worth $31,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of Cummins during the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

About Cummins

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.