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

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 2,163 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total value of $784,065.87. Following the completion of the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,540,879.47. The trade was a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cummins Trading Down 0.5 %

Shares of CMI stock opened at $361.85 on Monday. Cummins Inc. has a fifty-two week low of $220.02 and a fifty-two week high of $370.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The stock has a 50 day simple moving average of $328.91 and a two-hundred day simple moving average of $301.77. The company has a market cap of $49.64 billion, a P/E ratio of 23.90, a PEG ratio of 1.77 and a beta of 0.97.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. Cummins’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.73 EPS. Research analysts forecast that Cummins Inc. will post 20.57 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be paid a $1.82 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a dividend yield of 2.01%. Cummins’s dividend payout ratio is presently 48.08%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CMI. Robert W. Baird increased their target price on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group lifted their target price on shares of Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and upped their price target for the company from $294.00 to $408.00 in a research report on Wednesday, November 13th. Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a report on Wednesday, November 6th. Finally, StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $334.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. acquired a new stake in Cummins in the 2nd quarter valued at $28,000. Cultivar Capital Inc. bought a new stake in shares of Cummins during the second 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 position in Cummins in the 1st quarter valued at about $31,000. Finally, Prospera Private Wealth LLC bought a new stake in Cummins during the 3rd quarter worth approximately $32,000. Institutional investors 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.