Donald Jackson Sells 1,600 Shares of Cummins (NYSE:CMI) Stock

Cummins Inc. (NYSE:CMI) VP Donald Jackson sold 1,600 shares of Cummins stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total transaction of $960,208.00. Following the completion of the transaction, the vice president owned 7,214 shares of the company’s stock, valued at $4,329,337.82. This trade represents a 18.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Cummins Price Performance

CMI stock traded down $6.40 during midday trading on Wednesday, reaching $594.08. 918,018 shares of the company’s stock traded hands, compared to its average volume of 1,002,865. The company has a 50-day simple moving average of $561.29 and a two-hundred day simple moving average of $481.63. 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 cap of $82.08 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 1.86 and a beta of 1.13.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Thursday, February 5th. The company reported $5.81 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 company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the previous year, the firm earned $5.16 earnings per share. The business’s revenue was up 1.1% on a year-over-year basis. On average, analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley reiterated an “overweight” rating and issued a $675.00 price target on shares of Cummins in a report on Friday, February 6th. UBS Group set a $565.00 price objective on Cummins and gave the stock a “neutral” rating in a research note on Friday, February 6th. Wall Street Zen raised shares of Cummins from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Citigroup upped their price target on Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Cummins in a research note on Monday, December 29th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $588.93.

Hedge Funds Weigh In On Cummins

Large investors have recently made changes to their positions in the company. Thompson Investment Management Inc. bought a new stake in shares of Cummins in the fourth quarter valued at about $26,000. Activest Wealth Management increased its stake in Cummins by 537.5% in the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after acquiring an additional 43 shares during the last quarter. Wellington Shields Capital Management LLC bought a new stake in shares of Cummins during the 4th quarter worth $27,000. Flagship Wealth Advisors LLC bought a new position in shares of Cummins in the third quarter worth about $28,000. Finally, Birchwood Financial Partners Inc. acquired a new stake in Cummins in the fourth quarter valued at approximately $28,000. Institutional investors 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.