Cummins Inc. (NYSE:CMI) VP Sells $1,113,016.80 in Stock

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 3,880 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total transaction of $1,113,016.80. Following the sale, the vice president now owns 20,873 shares of the company’s stock, valued at approximately $5,987,628.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Cummins Price Performance

Shares of CMI traded up $1.69 during trading hours on Wednesday, reaching $288.60. The company had a trading volume of 275,801 shares, compared to its average volume of 2,528,114. The company has a market capitalization of $39.47 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 1.90 and a beta of 1.04. Cummins Inc. has a 12-month low of $203.18 and a 12-month high of $304.24. The firm has a 50 day simple moving average of $286.11 and a 200-day simple moving average of $253.84. The company has a current ratio of 1.34, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.10 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. Cummins’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.52 earnings per share. Research analysts expect that Cummins Inc. will post 18.45 earnings per share for the current year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a dividend of $1.68 per share. This represents a $6.72 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is presently 49.19%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CMI shares. Robert W. Baird decreased their target price on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. TD Cowen lifted their target price on Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. UBS Group raised Cummins from a “neutral” rating to a “buy” rating and boosted their target price for the company from $254.00 to $321.00 in a report on Friday, March 15th. The Goldman Sachs Group increased their price target on Cummins from $270.00 to $306.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, Evercore ISI upped their price objective on shares of Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $282.55.

Institutional Investors Weigh In On Cummins

Several institutional investors and hedge funds have recently made changes to their positions in the business. OFI Invest Asset Management purchased a new stake in Cummins in the 3rd quarter valued at approximately $25,000. First United Bank & Trust purchased a new stake in Cummins during the 4th quarter worth about $25,000. Private Wealth Management Group LLC acquired a new position in Cummins in the 4th quarter valued at about $26,000. Silver Oak Securities Incorporated purchased a new position in Cummins in the 3rd quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of Cummins during the fourth quarter worth about $31,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

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.