Cummins Inc. (NYSE:CMI) VP Sells $798,406.56 in Stock

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

Cummins Trading Up 1.0 %

Shares of NYSE CMI opened at $372.62 on Monday. Cummins Inc. has a 1-year low of $222.04 and a 1-year high of $373.35. The company has a 50-day moving average of $335.78 and a two-hundred day moving average of $304.64. The company has a market cap of $51.12 billion, a PE ratio of 24.61, a P/E/G ratio of 1.79 and a beta of 0.97. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.73 EPS. As a group, equities analysts expect that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CMI. PFG Investments LLC boosted its stake in Cummins by 27.7% in the third quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock valued at $725,000 after acquiring an additional 485 shares during the last quarter. CWM LLC boosted its position in shares of Cummins by 17.4% in the 3rd quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after purchasing an additional 1,786 shares during the last quarter. Distillate Capital Partners LLC grew its stake in shares of Cummins by 109,309.3% during the second quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock worth $16,361,000 after purchasing an additional 59,027 shares during the period. Manning & Napier Advisors LLC bought a new stake in Cummins in the second quarter valued at about $16,329,000. Finally, Cetera Advisors LLC boosted its holdings in Cummins by 162.9% during the first quarter. Cetera Advisors LLC now owns 22,870 shares of the company’s stock worth $6,739,000 after buying an additional 14,170 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Analysts Set New Price Targets

CMI has been the topic of several recent research reports. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Barclays upped their price objective on Cummins from $259.00 to $310.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Truist Financial raised their target price on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research report on Friday, October 11th. Finally, StockNews.com raised Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cummins presently has a consensus rating of “Hold” and an average target price of $337.67.

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.