Cummins (NYSE:CMI) VP Sells $2,497,651.10 in Stock

by · The Cerbat Gem

Cummins Inc. (NYSE:CMI – Get Free Report) VP Jennifer Mary Bush sold 4,270 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $584.93, for a total transaction of $2,497,651.10. Following the completion of the transaction, the vice president owned 15,130 shares in the company, valued at approximately $8,849,990.90. This trade represents a 22.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Cummins Stock Performance

CMI stock traded down $6.98 during mid-day trading on Monday, hitting $586.30. 777,352 shares of the company were exchanged, compared to its average volume of 1,014,582. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $617.98. The stock has a market capitalization of $81.00 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 1.88 and a beta of 1.13. The business has a 50 day simple moving average of $558.23 and a 200-day simple moving average of $478.72. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI – Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating the consensus estimate of $5.17 by $0.64. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The business had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same period in the prior year, the company posted $5.16 earnings per share. Cummins’s revenue was up 1.1% compared to the same quarter last year. On average, equities analysts forecast that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

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 paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, February 20th. Cummins’s dividend payout ratio (DPR) is 38.99%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CMI. UBS Group set a $565.00 target price on Cummins and gave the stock a “neutral” rating in a report on Friday, February 6th. Truist Financial reaffirmed a “buy” rating and set a $703.00 price objective (up previously from $653.00) on shares of Cummins in a research report on Friday, February 6th. Zacks Research lowered shares of Cummins from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Wells Fargo & Company boosted their target price on shares of Cummins from $599.00 to $630.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Finally, Raymond James Financial increased their price target on shares of Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $588.93.

View Our Latest Research Report on CMI

Hedge Funds Weigh In On Cummins

Institutional investors have recently added to or reduced their stakes in the stock. Nicolet Advisory Services LLC lifted its stake in shares of Cummins by 1.6% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock valued at $619,000 after purchasing an additional 17 shares during the period. Frank Rimerman Advisors LLC grew its stake in Cummins by 0.5% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock worth $1,908,000 after purchasing an additional 18 shares during the period. Financial Consulate Inc. increased its holdings in Cummins by 16.8% in the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock worth $64,000 after purchasing an additional 18 shares in the last quarter. ICW Investment Advisors LLC increased its holdings in Cummins by 2.6% in the fourth quarter. ICW Investment Advisors LLC now owns 723 shares of the company’s stock worth $369,000 after purchasing an additional 18 shares in the last quarter. Finally, Gilbert & Cook Inc. lifted its stake in Cummins by 1.0% in the fourth quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company’s stock valued at $947,000 after buying an additional 19 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

About Cummins

(Get Free Report)

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.

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