Sharon R. Barner Sells 2,163 Shares of Cummins Inc. (NYSE:CMI) Stock

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the transaction, the vice president now owns 20,803 shares in the company, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Cummins Trading Up 1.5 %

Cummins stock opened at $372.66 on Friday. The company’s fifty day simple moving average is $335.78 and its 200-day simple moving average is $304.41. 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 Inc. has a 12 month low of $222.04 and a 12 month high of $373.35. The stock has a market cap of $51.12 billion, a P/E ratio of 24.61, a P/E/G ratio of 1.79 and a beta of 0.97.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the previous year, the company posted $4.73 EPS. Cummins’s revenue was up .3% on a year-over-year basis. As a group, sell-side analysts forecast that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins’s dividend payout ratio is currently 48.08%.

Wall Street Analyst Weigh In

CMI has been the topic of several recent research reports. Barclays lifted their price target on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research report on Friday, October 11th. Finally, Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Two 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $337.67.

Institutional Investors Weigh In On Cummins

Institutional investors and hedge funds have recently modified their holdings of the business. Cultivar Capital Inc. acquired a new stake in shares of Cummins in the 2nd quarter valued at $28,000. Prospera Private Wealth LLC acquired a new stake in shares of Cummins in the 3rd quarter valued at $32,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Cummins in the 2nd quarter valued at $28,000. Lynx Investment Advisory acquired a new stake in shares of Cummins in the 2nd quarter valued at $29,000. Finally, LRI Investments LLC acquired a new position in Cummins during the 1st quarter worth $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

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.