Cummins Inc. (NYSE:CMI) VP Sharon R. Barner Sells 162 Shares

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Cummins Price Performance

Shares of CMI opened at $355.07 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 1.32. The firm has a market cap of $48.71 billion, a PE ratio of 23.45, a PEG ratio of 1.77 and a beta of 0.97. The firm’s 50 day moving average price is $323.90 and its 200 day moving average price is $299.69. Cummins Inc. has a twelve month low of $216.91 and a twelve month high of $370.21.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $4.73 EPS. As a group, research analysts expect that Cummins Inc. will post 20.32 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.05%. Cummins’s dividend payout ratio is currently 48.08%.

Wall Street Analysts Forecast Growth

CMI has been the subject of several research analyst reports. Citigroup upped their price target on shares of Cummins from $345.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Truist Financial increased their target price on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped their price target on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Evercore ISI raised their price objective on Cummins from $290.00 to $294.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Finally, Robert W. Baird upped their target price on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cummins has a consensus rating of “Hold” and a consensus target price of $324.83.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CMI. Price T Rowe Associates Inc. MD lifted its holdings in Cummins by 8.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,948,413 shares of the company’s stock worth $2,342,001,000 after purchasing an additional 604,735 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Cummins by 5.8% in the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after buying an additional 165,398 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of Cummins by 31,489.1% in the third quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock worth $819,794,000 after buying an additional 2,523,854 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Cummins by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,696,538 shares of the company’s stock worth $469,869,000 after buying an additional 26,977 shares during the period. Finally, Legal & General Group Plc grew its stake in Cummins by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,691,775 shares of the company’s stock valued at $468,503,000 after buying an additional 31,190 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

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.