Cummins (NYSE:CMI) Director Karen Quintos Sells 1,307 Shares

Cummins Inc. (NYSE:CMI) Director Karen Quintos sold 1,307 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $405.33, for a total transaction of $529,766.31. Following the sale, the director directly owned 5,227 shares in the company, valued at approximately $2,118,659.91. The trade was a 20.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Cummins Price Performance

Shares of NYSE:CMI opened at $396.1750 on Thursday. The firm’s 50 day moving average price is $351.98 and its 200-day moving average price is $333.95. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $408.38. The company has a quick ratio of 1.03, a current ratio of 1.64 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $54.59 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $6.43 earnings per share for the quarter, topping the consensus estimate of $5.21 by $1.22. Cummins had a net margin of 8.72% and a return on equity of 26.96%. The firm had revenue of $8.64 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same quarter in the prior year, the business earned $5.26 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. Equities research analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd will be paid a $2.00 dividend. This is a boost from Cummins’s previous quarterly dividend of $1.82. The ex-dividend date is Friday, August 22nd. This represents a $8.00 annualized dividend and a dividend yield of 2.0%. Cummins’s dividend payout ratio (DPR) is currently 34.23%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMI. Olde Wealth Management LLC bought a new position in Cummins in the 1st quarter worth approximately $30,000. Accredited Wealth Management LLC bought a new position in Cummins in the 1st quarter worth approximately $31,000. Osterweis Capital Management Inc. bought a new position in Cummins in the 2nd quarter worth approximately $31,000. Capital A Wealth Management LLC bought a new position in Cummins in the 4th quarter worth approximately $32,000. Finally, Opal Wealth Advisors LLC bought a new position in Cummins in the 1st quarter worth approximately $37,000. 83.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of Cummins to an “overweight” rating in a research note on Monday, August 11th. Wolfe Research upgraded shares of Cummins from a “hold” rating to an “outperform” rating in a research note on Monday, August 11th. The Goldman Sachs Group raised shares of Cummins from a “neutral” rating to a “buy” rating and increased their target price for the stock from $410.00 to $431.00 in a report on Tuesday, May 27th. JPMorgan Chase & Co. increased their target price on shares of Cummins from $308.00 to $320.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Finally, Morgan Stanley increased their target price on shares of Cummins from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $370.83.

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.