Cummins Inc. (NYSE:CMI) VP Sharon R. Barner Sells 3,880 Shares

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 3,880 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $286.86, for a total value of $1,113,016.80. Following the completion of the transaction, the vice president now directly owns 20,873 shares of the company’s stock, valued at $5,987,628.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Cummins Trading Up 0.7 %

Shares of CMI opened at $288.97 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $286.11 and a 200 day moving average price of $253.84. Cummins Inc. has a 12-month low of $203.18 and a 12-month high of $304.24. The firm has a market capitalization of $39.53 billion, a P/E ratio of 21.15, a P/E/G ratio of 1.90 and a beta of 1.04.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.27). The firm had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.10 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.52 EPS. Sell-side analysts forecast that Cummins Inc. will post 18.45 EPS for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 22nd. Cummins’s dividend payout ratio (DPR) is presently 49.19%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CMI. JPMorgan Chase & Co. boosted their target price on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research note on Monday, March 25th. Bank of America lowered Cummins from a “neutral” rating to an “underperform” rating and cut their price target for the company from $243.00 to $225.00 in a research note on Friday, January 19th. Robert W. Baird dropped their price objective on Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Citigroup upped their target price on Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Finally, TheStreet cut shares of Cummins from an “a-” rating to a “c+” rating in a research note on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Cummins currently has an average rating of “Hold” and an average target price of $282.55.

Institutional Trading of Cummins

Institutional investors and hedge funds have recently bought and sold shares of the stock. OFI Invest Asset Management purchased a new stake in shares of Cummins in the 3rd quarter valued at approximately $25,000. First United Bank & Trust acquired a new stake in shares of Cummins in the fourth quarter valued at $25,000. Private Wealth Management Group LLC purchased a new stake in shares of Cummins in the 4th quarter valued at $26,000. Silver Oak Securities Incorporated acquired a new position in Cummins during the 3rd quarter worth about $28,000. Finally, DiNuzzo Private Wealth Inc. purchased a new position in Cummins during the 4th quarter valued at about $31,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

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.