Insider Selling: Cummins Inc. (NYSE:CMI) VP Sells 2,163 Shares of Stock

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 2,163 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. This represents a 9.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cummins Stock Up 1.0 %

Shares of CMI stock traded up $3.76 during trading hours on Friday, reaching $372.62. 404,083 shares of the company’s stock were exchanged, compared to its average volume of 1,458,623. Cummins Inc. has a 1 year low of $222.04 and a 1 year high of $373.34. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a market cap of $51.12 billion, a PE ratio of 24.38, a PEG ratio of 1.77 and a beta of 0.97. The stock’s fifty day moving average price is $334.37 and its two-hundred day moving average price is $303.79.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.73 earnings per share. Research analysts predict that Cummins Inc. will post 20.57 EPS for the current year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be paid a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, November 22nd. Cummins’s dividend payout ratio is currently 48.08%.

Institutional Trading of Cummins

Hedge funds have recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Cummins in the second quarter worth about $28,000. Cultivar Capital Inc. purchased a new stake in Cummins during the 2nd quarter worth approximately $28,000. Lynx Investment Advisory acquired a new stake in shares of Cummins in the second quarter worth approximately $29,000. LRI Investments LLC purchased a new position in Cummins in the 1st quarter valued at $31,000. Finally, Prospera Private Wealth LLC acquired a new stake in Cummins during the 3rd quarter worth $32,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Citigroup raised their price objective on shares of Cummins from $375.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Robert W. Baird raised their price objective on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. increased their target price on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a report on Friday, October 11th. Finally, The Goldman Sachs Group boosted their price objective on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cummins currently has a consensus rating of “Hold” and a consensus target price of $337.67.

About Cummins

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.