Cummins (NYSE:CMI) EVP Bonnie Fetch Sells 652 Shares

Cummins Inc. (NYSE:CMI) EVP Bonnie Fetch sold 652 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $700.19, for a total transaction of $456,523.88. Following the completion of the transaction, the executive vice president directly owned 11,679 shares of the company’s stock, valued at approximately $8,177,519.01. The trade was a 5.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cummins Price Performance

NYSE:CMI traded up $22.15 on Monday, hitting $701.70. The company had a trading volume of 724,180 shares, compared to its average volume of 919,437. The stock has a market capitalization of $96.83 billion, a price-to-earnings ratio of 36.41, a PEG ratio of 1.71 and a beta of 1.27. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $586.92 and a two-hundred day moving average of $543.54. Cummins Inc. has a 52 week low of $307.90 and a 52 week high of $718.08.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, beating the consensus estimate of $5.63 by $0.52. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.96 EPS. On average, research analysts anticipate that Cummins Inc. will post 28.39 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 annualized dividend and a dividend yield of 1.1%. Cummins’s dividend payout ratio (DPR) is presently 41.52%.

Institutional Investors Weigh In On Cummins

Several large investors have recently modified their holdings of the company. Valmark Advisers Inc. increased its position in shares of Cummins by 1.9% during the first quarter. Valmark Advisers Inc. now owns 877 shares of the company’s stock worth $472,000 after buying an additional 16 shares during the period. Nicolet Advisory Services LLC increased its position in shares of Cummins by 1.6% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock worth $619,000 after buying an additional 17 shares during the period. Uhlmann Price Securities LLC increased its position in shares of Cummins by 2.4% during the first quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock worth $386,000 after buying an additional 17 shares during the period. Frank Rimerman Advisors LLC increased its position in shares of 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 buying an additional 18 shares during the period. Finally, Financial Consulate Inc. increased its position in shares of Cummins by 16.8% during the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock worth $64,000 after buying an additional 18 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CMI shares. Weiss Ratings downgraded shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Wall Street Zen downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Morgan Stanley raised their price target on shares of Cummins from $675.00 to $752.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wolfe Research downgraded shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price target for the company. in a research note on Monday, January 26th. Finally, Zacks Research raised shares of Cummins from a “hold” rating to a “strong-buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $677.87.

About Cummins

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.