Jennifer Mary Bush Sells 5,000 Shares of Cummins (NYSE:CMI) Stock

Cummins Inc. (NYSE:CMI) VP Jennifer Mary Bush sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the transaction, the vice president owned 11,986 shares in the company, valued at approximately $8,344,773.06. This trade represents a 29.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Cummins Stock Performance

CMI opened at $715.33 on Friday. Cummins Inc. has a 52-week low of $307.90 and a 52-week high of $718.08. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The company has a market cap of $98.71 billion, a P/E ratio of 37.12, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27. The firm’s 50-day moving average price is $599.02 and its 200-day moving average price is $553.62.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the company posted $5.96 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that Cummins Inc. will post 28.39 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd will be issued a dividend of $2.00 per share. The ex-dividend date is Friday, May 22nd. This represents a $8.00 annualized dividend and a dividend yield of 1.1%. Cummins’s dividend payout ratio is 41.52%.

Analysts Set New Price Targets

CMI has been the topic of several research reports. Robert W. Baird set a $700.00 price target on shares of Cummins in a report on Wednesday, May 6th. Wolfe Research downgraded shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price target on the stock. in a report on Monday, January 26th. Wells Fargo & Company increased their price target on shares of Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Zacks Research upgraded shares of Cummins from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Sanford C. Bernstein set a $600.00 price target on shares of Cummins and gave the stock a “market perform” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cummins has an average rating of “Moderate Buy” and a consensus target price of $677.87.

Hedge Funds Weigh In On Cummins

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC grew its stake in shares of Cummins by 4.1% during the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after purchasing an additional 83 shares during the period. Intech Investment Management LLC grew its stake in shares of Cummins by 40.8% during the 1st quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock worth $1,240,000 after purchasing an additional 1,146 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of Cummins by 2.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock worth $21,055,000 after purchasing an additional 1,759 shares during the period. ICW Investment Advisors LLC acquired a new stake in shares of Cummins during the 2nd quarter worth approximately $225,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Cummins during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins News Roundup

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Cummins’ latest earnings beat expectations, with EPS of $6.15 on revenue of $8.40 billion, reinforcing confidence in the company’s operating momentum and supporting the stock. Cummins stock report
• Positive Sentiment: Analysts have turned more constructive, with Citigroup, Barclays, and Evercore raising targets, while Zacks upgraded Cummins to “strong-buy,” which can lift investor sentiment. Cummins price target raised article
• Positive Sentiment: The company declared a quarterly dividend of $2.00 per share, underscoring shareholder returns and adding to the stock’s income appeal.
• Positive Sentiment: Shareholders approved the board, pay package, and incentive plan at the annual meeting, signaling governance continuity and support for management. Cummins Shareholders Back Board, Pay and Incentive Plan
• Neutral Sentiment: One Cummins vice president sold shares, and several other insider sales were reported this week; while not necessarily a red flag, the activity may slightly temper enthusiasm.
• Neutral Sentiment: Recent articles discussing Cummins’ momentum and relative performance versus industrial peers are more commentary than fresh catalysts. Relative performance article

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.