Cummins Inc. (CMI) VP Sells $757,071.00 in Stock
Cummins Inc. (NYSE:CMI) VP Marsha L. Hunt sold 5,910 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $128.10, for a total transaction of $757,071.00. Following the completion of the transaction, the vice president now owns 4,382 shares in the company, valued at $561,334.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Cummins Inc. (NYSE:CMI) opened at 137.81 on Friday. Cummins Inc. has a 12 month low of $79.88 and a 12 month high of $141.65. The stock has a market cap of $23.10 billion, a PE ratio of 20.03 and a beta of 1.32. The firm’s 50-day moving average is $126.65 and its 200 day moving average is $120.09.
Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, November 1st. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.06. The firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.23 billion. Cummins had a net margin of 6.62% and a return on equity of 19.47%. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 earnings per share. On average, equities analysts predict that Cummins Inc. will post $8.17 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 21st will be given a dividend of $1.025 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $4.10 annualized dividend and a dividend yield of 2.98%. This is a boost from Cummins’s previous quarterly dividend of $0.98. Cummins’s dividend payout ratio (DPR) is presently 59.33%.
A number of analysts recently commented on the stock. Vetr cut shares of Cummins from a “strong-buy” rating to a “buy” rating and set a $140.84 price target on the stock. in a research note on Monday. Stifel Nicolaus restated a “hold” rating and set a $109.00 price target (up from $103.00) on shares of Cummins in a research note on Wednesday, November 2nd. Barclays PLC upped their price target on shares of Cummins from $105.00 to $108.00 and gave the company an “underweight” rating in a research note on Wednesday, October 12th. Deutsche Bank AG upped their price target on shares of Cummins from $111.00 to $112.00 and gave the company a “sell” rating in a research note on Wednesday, October 12th. Finally, Citigroup Inc. upped their price target on shares of Cummins from $115.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, August 3rd. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the stock. Cummins currently has an average rating of “Hold” and a consensus price target of $118.89.
Several large investors have recently added to or reduced their stakes in CMI. First Manhattan Co. boosted its stake in Cummins by 8.0% in the second quarter. First Manhattan Co. now owns 957 shares of the company’s stock valued at $107,000 after buying an additional 71 shares during the last quarter. BlueMountain Capital Management LLC bought a new stake in Cummins during the second quarter valued at about $109,000. Penserra Capital Management LLC boosted its stake in Cummins by 100.0% in the third quarter. Penserra Capital Management LLC now owns 972 shares of the company’s stock valued at $124,000 after buying an additional 486 shares during the last quarter. Kanaly Trust Co boosted its stake in Cummins by 3.1% in the second quarter. Kanaly Trust Co now owns 1,114 shares of the company’s stock valued at $125,000 after buying an additional 34 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Cummins by 17.1% in the second quarter. Signaturefd LLC now owns 1,111 shares of the company’s stock valued at $125,000 after buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 80.88% of the company’s stock.
Cummins Company Profile
Cummins Inc is a manufacturer of diesel engines. The Company operates through four segments: Engine, Distribution, Components and Power Generation. Its Engine segment manufactures and markets a range of diesel and natural gas-powered engines under the Cummins brand name, as well as certain customer brand names for the heavy-and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive, agricultural and governmental equipment markets.
Receive News & Stock Ratings for Cummins Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins Inc. and related stocks with our FREE daily email newsletter.