Cummins (NYSE:CMI) VP Sells $518,971.60 in Stock

Cummins Inc. (NYSE:CMI) VP Donald Jackson sold 730 shares of Cummins stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the sale, the vice president directly owned 8,316 shares in the company, valued at approximately $5,912,010.72. The trade was a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cummins Stock Performance

NYSE:CMI opened at $698.36 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. Cummins Inc. has a 1 year low of $307.90 and a 1 year high of $718.08. The stock’s 50 day simple moving average is $601.51 and its two-hundred day simple moving average is $554.63. The company has a market cap of $96.37 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 1.76 and a beta of 1.27.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the company posted $5.96 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that Cummins Inc. will post 28.39 earnings per share for the current fiscal year.

Cummins Dividend Announcement

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

Hedge Funds Weigh In On Cummins

A number of large investors have recently bought and sold shares of CMI. Thompson Investment Management Inc. purchased a new position in Cummins during the 4th quarter valued at $26,000. Activest Wealth Management boosted its holdings in Cummins by 537.5% during the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after acquiring an additional 43 shares during the period. Cedar Mountain Advisors LLC boosted its holdings in Cummins by 1,500.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock valued at $26,000 after acquiring an additional 45 shares during the period. Wellington Shields Capital Management LLC purchased a new position in Cummins during the 4th quarter valued at $27,000. Finally, Flagship Wealth Advisors LLC purchased a new position in Cummins during the 3rd quarter valued at $28,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CMI shares. Wall Street Zen cut Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Morgan Stanley lifted their target price on Cummins from $675.00 to $752.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Zacks Research upgraded Cummins from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Sanford C. Bernstein set a $600.00 target price on Cummins and gave the stock a “market perform” rating in a report on Friday, February 6th. Finally, Raymond James Financial lifted their target price on Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.