Cummins (NYSE:CMI) Director William Miller Sells 18,107 Shares

Cummins Inc. (NYSE:CMI) Director William Miller sold 18,107 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total value of $10,811,689.70. Following the completion of the transaction, the director owned 34,243 shares in the company, valued at approximately $20,446,495.30. This trade represents a 34.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cummins Price Performance

Shares of NYSE:CMI traded up $11.51 during midday trading on Friday, hitting $600.30. The company had a trading volume of 992,587 shares, compared to its average volume of 1,039,969. The business’s 50-day simple moving average is $548.19 and its 200-day simple moving average is $467.67. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. The stock has a market cap of $82.94 billion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 1.89 and a beta of 1.13. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $617.98.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The firm had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period last year, the company earned $5.16 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, research analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Friday, February 20th will be issued a $2.00 dividend. The ex-dividend date is Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a yield of 1.3%. Cummins’s dividend payout ratio (DPR) is 38.99%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup raised their price target on Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Wolfe Research downgraded Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 target price on the stock. in a research note on Monday, January 26th. Argus set a $696.00 price target on Cummins in a research note on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cummins in a research report on Monday, December 29th. Finally, Morgan Stanley restated an “overweight” rating and set a $675.00 price objective on shares of Cummins in a research report on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Cummins has a consensus rating of “Moderate Buy” and a consensus price target of $588.93.

Institutional Trading of Cummins

Several hedge funds and other institutional investors have recently made changes to their positions in CMI. Bridgewater Associates LP raised its position in Cummins by 560.2% during the fourth quarter. Bridgewater Associates LP now owns 30,783 shares of the company’s stock worth $15,713,000 after acquiring an additional 26,120 shares during the last quarter. Visionary Wealth Advisors acquired a new position in shares of Cummins during the 4th quarter worth approximately $217,000. UMB Bank n.a. grew its holdings in Cummins by 15.7% during the 4th quarter. UMB Bank n.a. now owns 2,566 shares of the company’s stock valued at $1,310,000 after buying an additional 348 shares during the last quarter. PCM Encore LLC acquired a new position in shares of Cummins in the fourth quarter worth $1,038,000. Finally, Ridge Creek Global Inc purchased a new stake in shares of Cummins in the fourth quarter valued at $2,034,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

About Cummins

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.