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 business’s stock in a transaction dated Wednesday, November 13th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cummins Stock Performance

Shares of NYSE:CMI opened at $361.85 on Monday. Cummins Inc. has a 12-month low of $220.02 and a 12-month high of $370.21. The company’s 50 day moving average price is $328.91 and its two-hundred day moving average price is $301.77. The firm has a market cap of $49.64 billion, a PE ratio of 23.90, a PEG ratio of 1.77 and a beta of 0.97. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.73 earnings per share. Equities research analysts predict that Cummins Inc. will post 20.57 earnings per share for the current year.

Cummins Announces Dividend

The company also recently disclosed 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 2.01%. Cummins’s dividend payout ratio is 48.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Truist Financial boosted their target price on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a report on Wednesday, November 6th. The Goldman Sachs Group upped their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird raised their target price on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $334.33.

Hedge Funds Weigh In On Cummins

Several hedge funds have recently bought and sold shares of the company. Chicago Capital LLC boosted its position in shares of Cummins by 0.9% during the 3rd quarter. Chicago Capital LLC now owns 3,288 shares of the company’s stock worth $1,065,000 after acquiring an additional 30 shares in the last quarter. Equitable Trust Co. boosted its holdings in shares of Cummins by 3.6% in the 3rd quarter. Equitable Trust Co. now owns 920 shares of the company’s stock valued at $298,000 after purchasing an additional 32 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its stake in shares of Cummins by 0.7% in the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 5,373 shares of the company’s stock valued at $1,488,000 after purchasing an additional 35 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Cummins by 1.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,876 shares of the company’s stock worth $520,000 after buying an additional 35 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in shares of Cummins by 3.4% during the 2nd quarter. Fidelis Capital Partners LLC now owns 1,166 shares of the company’s stock worth $340,000 after buying an additional 38 shares during the last quarter. 83.46% of the stock is owned by institutional investors.

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.