Sharon R. Barner Sells 2,001 Shares of Cummins Inc. (NYSE:CMI) Stock

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 2,001 shares of Cummins stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $358.43, for a total transaction of $717,218.43. Following the completion of the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,456,419.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Cummins Stock Performance

Shares of NYSE CMI opened at $366.34 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. Cummins Inc. has a 1 year low of $220.02 and a 1 year high of $370.21. The firm has a fifty day moving average price of $324.91 and a 200-day moving average price of $300.14. The stock has a market cap of $50.25 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 1.75 and a beta of 0.97.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $4.73 earnings per share. Equities analysts anticipate that Cummins Inc. will post 20.44 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be paid a $1.82 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 1.99%. Cummins’s payout ratio is 48.08%.

Institutional Investors Weigh In On Cummins

Institutional investors have recently added to or reduced their stakes in the stock. CreativeOne Wealth LLC bought a new position in shares of Cummins during the third quarter worth $295,000. BNP Paribas lifted its stake in Cummins by 5.4% in the 3rd quarter. BNP Paribas now owns 982 shares of the company’s stock worth $318,000 after purchasing an additional 50 shares in the last quarter. Freedom Investment Management Inc. boosted its holdings in shares of Cummins by 405.2% during the 3rd quarter. Freedom Investment Management Inc. now owns 3,663 shares of the company’s stock valued at $1,186,000 after purchasing an additional 2,938 shares during the last quarter. Townsquare Capital LLC grew its position in shares of Cummins by 7.3% during the third quarter. Townsquare Capital LLC now owns 3,287 shares of the company’s stock valued at $1,064,000 after purchasing an additional 223 shares in the last quarter. Finally, Avestar Capital LLC increased its holdings in shares of Cummins by 5.9% in the third quarter. Avestar Capital LLC now owns 956 shares of the company’s stock worth $310,000 after purchasing an additional 53 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMI has been the topic of a number of research reports. Truist Financial raised their price target on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target for the company. in a research note on Wednesday, November 6th. JPMorgan Chase & Co. increased their price objective on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research note on Friday, October 11th. Robert W. Baird raised their price objective on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Citigroup upped their target price on shares of Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $334.33.

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.