Cummins Inc. (NYSE:CMI) insider Tony Satterthwaite sold 4,000 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $169.00, for a total value of $676,000.00. Following the completion of the sale, the insider now owns 41,902 shares of the company’s stock, valued at $7,081,438. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Tony Satterthwaite also recently made the following trade(s):

  • On Thursday, July 6th, Tony Satterthwaite sold 4,000 shares of Cummins stock. The stock was sold at an average price of $164.50, for a total value of $658,000.00.
  • On Friday, April 28th, Tony Satterthwaite sold 4,000 shares of Cummins stock. The stock was sold at an average price of $151.03, for a total value of $604,120.00.

Cummins Inc. (NYSE CMI) traded up 1.53% during mid-day trading on Friday, reaching $160.16. The company had a trading volume of 1,523,470 shares. The firm’s 50 day moving average price is $163.27 and its 200-day moving average price is $154.51. Cummins Inc. has a 12 month low of $116.03 and a 12 month high of $170.68. The company has a market capitalization of $26.75 billion, a price-to-earnings ratio of 18.10 and a beta of 1.09.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $2.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.58 by $0.05. The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Cummins had a net margin of 8.10% and a return on equity of 20.67%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.40 earnings per share. Equities research analysts anticipate that Cummins Inc. will post $7.98 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $1.08 per share. The ex-dividend date is Wednesday, August 16th. This is an increase from Cummins’s previous quarterly dividend of $1.03. This represents a $4.32 annualized dividend and a yield of 2.70%. Cummins’s dividend payout ratio is currently 46.28%.

WARNING: “Cummins Inc. (CMI) Insider Tony Satterthwaite Sells 4,000 Shares” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another website, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this article can be viewed at https://www.thecerbatgem.com/2017/08/07/insider-selling-cummins-inc-cmi-insider-sells-4000-shares-of-stock-updated.html.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Cummins by 2,874.8% in the first quarter. BlackRock Inc. now owns 10,211,140 shares of the company’s stock valued at $1,543,924,000 after buying an additional 9,867,890 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Cummins by 39.0% in the first quarter. Bank of New York Mellon Corp now owns 2,006,014 shares of the company’s stock valued at $303,309,000 after buying an additional 563,279 shares during the last quarter. Vanguard Group Inc. boosted its position in Cummins by 4.7% in the first quarter. Vanguard Group Inc. now owns 11,315,964 shares of the company’s stock valued at $1,710,973,000 after buying an additional 510,416 shares during the last quarter. UBS Group AG boosted its position in Cummins by 118.2% in the first quarter. UBS Group AG now owns 755,368 shares of the company’s stock valued at $114,211,000 after buying an additional 409,168 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Cummins by 18.1% in the first quarter. American Century Companies Inc. now owns 2,633,596 shares of the company’s stock valued at $398,200,000 after buying an additional 402,929 shares during the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

CMI has been the subject of a number of analyst reports. Deutsche Bank AG restated a “sell” rating and set a $154.00 price objective (up from $142.00) on shares of Cummins in a research note on Wednesday, May 3rd. Stifel Nicolaus restated a “hold” rating and set a $150.00 price objective on shares of Cummins in a research note on Wednesday, April 12th. Wells Fargo & Company upgraded Cummins from a “market perform” rating to an “outperform” rating in a research note on Monday, April 17th. ValuEngine upgraded Cummins from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. Cummins has a consensus rating of “Hold” and a consensus target price of $154.33.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The 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 and agricultural markets.

Insider Buying and Selling by Quarter for Cummins (NYSE:CMI)

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.