Cummins (NYSE:CMI) VP Sells $1,093,496.96 in Stock

Cummins Inc. (NYSE:CMI) VP Amy Rochelle Davis sold 1,864 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $586.64, for a total value of $1,093,496.96. Following the completion of the transaction, the vice president directly owned 17,827 shares in the company, valued at $10,458,031.28. This trade represents a 9.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Cummins Trading Up 1.8%

Shares of NYSE CMI traded up $10.63 during midday trading on Tuesday, hitting $597.99. The stock had a trading volume of 108,475 shares, compared to its average volume of 988,714. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $617.98. The company has a market capitalization of $82.62 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 1.88 and a beta of 1.13. The company has a fifty day moving average price of $559.60 and a 200 day moving average price of $480.14.

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

Cummins Dividend Announcement

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

Institutional Investors Weigh In On Cummins

Several institutional investors and hedge funds have recently bought and sold shares of CMI. Thompson Investment Management Inc. bought a new stake in shares of Cummins in the 4th quarter worth approximately $26,000. Activest Wealth Management increased its holdings in shares of Cummins by 537.5% in the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after acquiring an additional 43 shares during the period. Wellington Shields Capital Management LLC acquired a new position in Cummins during the 4th quarter valued at about $27,000. Birchwood Financial Partners Inc. bought a new position in Cummins in the 4th quarter worth about $28,000. Finally, Kemnay Advisory Services Inc. bought a new position in Cummins in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

CMI has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. JPMorgan Chase & Co. boosted their target price on shares of Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Argus set a $696.00 price target on shares of Cummins in a research report on Tuesday, February 10th. Barclays lifted their price target on Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Finally, Wells Fargo & Company upped their price objective on Cummins from $599.00 to $630.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Cummins currently has an average rating of “Moderate Buy” and a consensus target price of $588.93.

Cummins Company Profile

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.