Cummins Inc. (NYSE:CMI) Director Alexis M. Herman sold 775 shares of the firm’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $143.64, for a total value of $111,321.00. Following the completion of the sale, the director now owns 30,069 shares of the company’s stock, valued at $4,319,111.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of CMI stock opened at $146.73 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.54 and a quick ratio of 0.94. The stock has a market capitalization of $23.30 billion, a P/E ratio of 13.82, a PEG ratio of 0.79 and a beta of 1.16. Cummins Inc. has a 12 month low of $124.72 and a 12 month high of $194.18.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $4.05 EPS for the quarter, topping the Zacks’ consensus estimate of $3.76 by $0.29. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.96 billion. Cummins had a return on equity of 29.17% and a net margin of 5.57%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $2.71 earnings per share. Equities analysts anticipate that Cummins Inc. will post 15.34 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th will be given a dividend of $1.14 per share. The ex-dividend date is Wednesday, November 14th. This represents a $4.56 annualized dividend and a dividend yield of 3.11%. Cummins’s payout ratio is currently 42.94%.

Cummins declared that its board has initiated a stock buyback program on Tuesday, October 9th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 8.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

A number of analysts have recently weighed in on the company. UBS Group set a $130.00 target price on Cummins and gave the company a “sell” rating in a research note on Tuesday. Mizuho set a $145.00 target price on Cummins and gave the company a “hold” rating in a research note on Wednesday, October 31st. Morgan Stanley lowered their target price on Cummins from $165.00 to $151.00 and set a “hold” rating for the company in a research note on Wednesday, October 31st. Credit Suisse Group lowered their target price on Cummins from $177.00 to $168.00 and set an “outperform” rating for the company in a research note on Wednesday, October 31st. Finally, Robert W. Baird upgraded Cummins from an “underperform” rating to a “neutral” rating in a research note on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Cummins has an average rating of “Hold” and an average target price of $163.30.

Several institutional investors have recently bought and sold shares of CMI. Edge Wealth Management LLC bought a new stake in Cummins in the 3rd quarter valued at approximately $102,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Cummins by 5,873.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 896 shares of the company’s stock valued at $119,000 after acquiring an additional 881 shares in the last quarter. MHI Funds LLC bought a new stake in Cummins in the 2nd quarter valued at approximately $147,000. Pflug Koory LLC lifted its stake in Cummins by 604.0% in the 3rd quarter. Pflug Koory LLC now owns 1,056 shares of the company’s stock valued at $154,000 after acquiring an additional 906 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in Cummins in the 2nd quarter valued at approximately $155,000. Institutional investors own 79.79% of the company’s stock.

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About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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