Cummins (NYSE:CMI) VP Sells $3,481,050.00 in Stock

Cummins Inc. (NYSE:CMI) VP Jennifer Mary Bush sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total value of $3,481,050.00. Following the completion of the transaction, the vice president directly owned 11,986 shares in the company, valued at $8,344,773.06. This represents a 29.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Cummins Price Performance

Shares of NYSE CMI traded up $3.47 during trading on Wednesday, hitting $708.03. The company had a trading volume of 120,849 shares, compared to its average volume of 911,737. The company has a market cap of $97.70 billion, a P/E ratio of 36.75, a PEG ratio of 1.77 and a beta of 1.27. Cummins Inc. has a 52 week low of $307.90 and a 52 week high of $718.08. The business’s 50-day moving average is $593.30 and its 200 day moving average is $549.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71.

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

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, May 22nd. Cummins’s payout ratio is 41.52%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Cummins by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock valued at $9,058,841,000 after buying an additional 98,544 shares during the last quarter. State Street Corp raised its position in Cummins by 0.8% in the fourth quarter. State Street Corp now owns 6,509,852 shares of the company’s stock worth $3,322,954,000 after purchasing an additional 49,628 shares in the last quarter. Geode Capital Management LLC raised its position in Cummins by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock worth $1,822,534,000 after purchasing an additional 35,286 shares in the last quarter. Fisher Asset Management LLC raised its position in Cummins by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock worth $1,741,004,000 after purchasing an additional 43,722 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Cummins by 10,317.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock worth $1,254,929,000 after purchasing an additional 2,434,876 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins News Roundup

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Citigroup raised its price target on Cummins (CMI) to $770 from $710 and kept a buy rating, reinforcing the bullish post-earnings setup. Article Title
• Positive Sentiment: Cummins declared a quarterly dividend of $2.00 per share, signaling continued confidence in cash generation and shareholder returns.
• Positive Sentiment: The company’s latest earnings report beat expectations, with EPS of $6.15 versus $5.63 expected and revenue slightly ahead of forecasts, which supports the stock’s recent strength.
• Neutral Sentiment: Multiple analyst notes remain favorable, including a buy rating from Wells Fargo and a strong-buy upgrade from Zacks, which helps validate the move higher but does not add a new business catalyst.
• Negative Sentiment: Several insiders sold shares this week, including Brett Michael Merritt, Nathan Stoner, Bonnie Fetch and Marvin Boakye. While insider sales do not always signal trouble, they can temper investor enthusiasm if the stock is near recent highs.

Analyst Ratings Changes

CMI has been the topic of several recent analyst reports. Argus set a $696.00 target price on shares of Cummins in a research note on Tuesday, February 10th. Sanford C. Bernstein set a $600.00 price target on shares of Cummins and gave the stock a “market perform” rating in a research note on Friday, February 6th. Evercore reaffirmed an “outperform” rating and issued a $845.00 price target on shares of Cummins in a research note on Monday. Weiss Ratings downgraded shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $677.87.

Cummins Company Profile

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.