Insider Selling: Cummins Inc. (NYSE:CMI) VP Sells 2,001 Shares of Stock

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 2,001 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $358.43, for a total transaction of $717,218.43. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,456,419.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Cummins Stock Performance

Shares of CMI traded down $2.83 during mid-day trading on Tuesday, hitting $355.60. 152,208 shares of the company traded hands, compared to its average volume of 1,490,231. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 1.32. The stock has a 50-day moving average price of $323.90 and a two-hundred day moving average price of $299.69. Cummins Inc. has a 1 year low of $216.91 and a 1 year high of $370.21. The stock has a market cap of $48.78 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 1.77 and a beta of 0.97.

Cummins (NYSE:CMI) last released its quarterly earnings data 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. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $4.73 earnings per share. Equities analysts anticipate that Cummins Inc. will post 20.32 earnings per share for the current year.

Cummins Announces Dividend

The firm 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 is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 2.05%. Cummins’s dividend payout ratio (DPR) is 48.08%.

Analyst Ratings Changes

CMI has been the subject of several analyst reports. The Goldman Sachs Group raised their price objective on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Truist Financial increased their target price on shares of Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Evercore ISI increased their target price on shares of Cummins from $290.00 to $294.00 and gave the company an “in-line” rating in a report on Monday, August 19th. JPMorgan Chase & Co. raised their price target on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a report on Friday, October 11th. Finally, Robert W. Baird lifted their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cummins presently has a consensus rating of “Hold” and an average target price of $324.83.

Hedge Funds Weigh In On Cummins

Hedge funds have recently modified their holdings of the company. Cultivar Capital Inc. purchased a new position in shares of Cummins in the second quarter worth $28,000. Prospera Private Wealth LLC purchased a new stake in Cummins during the third quarter valued at $32,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Cummins in the second quarter valued at $28,000. Lynx Investment Advisory purchased a new stake in shares of Cummins in the second quarter valued at $29,000. Finally, LRI Investments LLC purchased a new stake in shares of Cummins in the first quarter valued at $31,000. 83.46% of the stock is currently 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.