Cummins Inc. (NYSE:CMI) VP Sharon R. Barner Sells 2,163 Shares of Stock

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $369.12, for a total transaction of $798,406.56. Following the completion of the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. The trade was a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cummins Price Performance

CMI opened at $372.66 on Friday. The firm has a market cap of $51.12 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 1.79 and a beta of 0.97. Cummins Inc. has a fifty-two week low of $222.04 and a fifty-two week high of $373.35. The company’s 50-day moving average price is $335.78 and its 200 day moving average price is $304.41. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last announced its quarterly earnings results 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 company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the business earned $4.73 earnings per share. Cummins’s revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts expect that Cummins Inc. will post 20.75 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be paid a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 1.95%. Cummins’s payout ratio is currently 48.08%.

Institutional Investors Weigh In On Cummins

Large investors have recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Cummins in the second quarter valued at approximately $28,000. Cultivar Capital Inc. bought a new stake in Cummins during the second quarter worth approximately $28,000. Lynx Investment Advisory bought a new stake in Cummins during the second quarter worth approximately $29,000. LRI Investments LLC bought a new stake in Cummins during the first quarter worth approximately $31,000. Finally, Prospera Private Wealth LLC bought a new stake in Cummins during the third quarter worth approximately $32,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CMI shares. The Goldman Sachs Group upped their price objective on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Robert W. Baird increased their price target on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Vertical Research cut shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Finally, StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $337.67.

About Cummins

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.