Cummins Inc. (CMI) CAO Marya M. Rose Sells 10,970 Shares

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Cummins Inc. (NYSE:CMI) CAO Marya M. Rose sold 10,970 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $155.00, for a total value of $1,700,350.00. Following the transaction, the chief accounting officer now owns 26,035 shares of the company’s stock, valued at approximately $4,035,425. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

CMI stock opened at $138.60 on Friday. Cummins Inc. has a fifty-two week low of $124.72 and a fifty-two week high of $194.18. The firm has a market cap of $23.50 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 0.80 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.54 and a debt-to-equity ratio of 0.19.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, October 30th. The company reported $4.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.76 by $0.29. Cummins had a return on equity of 29.17% and a net margin of 5.57%. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.96 billion. During the same period last year, the firm posted $2.71 EPS. The business’s revenue was up 12.5% on a year-over-year basis. As a group, equities research analysts expect that Cummins Inc. will post 15.34 EPS for the current fiscal year.

Cummins announced that its board has authorized a share buyback plan on Tuesday, October 9th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase up to 8.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Thursday, November 15th were issued a dividend of $1.14 per share. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $4.56 dividend on an annualized basis and a yield of 3.29%. Cummins’s dividend payout ratio is 42.94%.

Several equities analysts recently commented on the company. ValuEngine upgraded Cummins from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. Stifel Nicolaus raised their target price on Cummins from $172.00 to $174.00 and gave the stock a “buy” rating in a research report on Wednesday, October 10th. Bank of America raised their target price on Cummins from $157.00 to $160.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 9th. Piper Jaffray Companies upgraded Cummins from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $143.00 to $188.00 in a research report on Thursday, October 4th. Finally, Zacks Investment Research downgraded Cummins from a “buy” rating to a “hold” rating in a research report on Friday, November 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. Cummins has a consensus rating of “Hold” and an average price target of $163.16.

Hedge funds have recently added to or reduced their stakes in the stock. Edge Wealth Management LLC acquired a new stake in shares of Cummins in the 3rd quarter valued at $102,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Cummins by 5,873.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 896 shares of the company’s stock valued at $119,000 after buying an additional 881 shares during the period. Pflug Koory LLC increased its stake in shares of Cummins by 604.0% in the 3rd quarter. Pflug Koory LLC now owns 1,056 shares of the company’s stock valued at $154,000 after buying an additional 906 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Cummins in the 2nd quarter valued at $155,000. Finally, Centaurus Financial Inc. increased its stake in shares of Cummins by 73.2% in the 2nd quarter. Centaurus Financial Inc. now owns 1,230 shares of the company’s stock valued at $164,000 after buying an additional 520 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

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About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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