Cummins Inc. (CMI) Insider Tony Satterthwaite Sells 4,000 Shares
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%.
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.
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