Sharon R. Barner Sells 2,001 Shares of Cummins Inc. (NYSE:CMI) Stock

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 2,001 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $358.43, for a total value of $717,218.43. Following the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at approximately $7,456,419.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Cummins Price Performance

Shares of NYSE CMI traded down $2.83 during midday trading on Tuesday, reaching $355.60. The company’s stock had a trading volume of 152,208 shares, compared to its average volume of 1,490,231. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 1.32. Cummins Inc. has a fifty-two week low of $216.91 and a fifty-two week high of $370.21. The business’s 50 day moving average price is $323.90 and its two-hundred day moving average price is $299.69. The company has a market cap of $48.78 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.77 and a beta of 0.97.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the business earned $4.73 earnings per share. The company’s revenue was up .3% on a year-over-year basis. On average, analysts forecast that Cummins Inc. will post 20.32 EPS for the current fiscal year.

Cummins Dividend Announcement

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

Institutional Trading of Cummins

Hedge funds and other institutional investors have recently modified their holdings of the stock. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Cummins in the second quarter worth $28,000. Cultivar Capital Inc. acquired a new stake in shares of Cummins in the 2nd quarter worth about $28,000. Lynx Investment Advisory acquired a new stake in shares of Cummins in the 2nd quarter worth about $29,000. LRI Investments LLC bought a new stake in Cummins in the 1st quarter worth about $31,000. Finally, Prospera Private Wealth LLC bought a new stake in Cummins in the 3rd quarter worth about $32,000. Institutional investors own 83.46% of the company’s stock.

Wall Street Analyst Weigh In

CMI has been the subject of a number of research reports. The Goldman Sachs Group increased their target price on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Barclays lifted their price target on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Truist Financial lifted their price target on Cummins from $349.00 to $371.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target on Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a report on Friday, October 11th. Finally, StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $324.83.

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.