Cummins Inc. (NYSE:CMI) COO Tony Satterthwaite Sells 5,395 Shares

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Cummins Inc. (NYSE:CMI) COO Tony Satterthwaite sold 5,395 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $167.75, for a total transaction of $905,011.25. Following the completion of the sale, the chief operating officer now directly owns 51,584 shares in the company, valued at $8,653,216. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Cummins stock opened at $166.78 on Friday. The stock has a market cap of $25.45 billion, a P/E ratio of 11.57, a P/E/G ratio of 2.11 and a beta of 1.15. The company has a quick ratio of 0.94, a current ratio of 1.50 and a debt-to-equity ratio of 0.19. Cummins Inc. has a twelve month low of $141.14 and a twelve month high of $186.73. The company’s 50-day moving average price is $170.59 and its two-hundred day moving average price is $168.05.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $2.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.42 by $0.14. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Cummins had a net margin of 9.59% and a return on equity of 26.49%. The business’s revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.48 EPS. Equities analysts anticipate that Cummins Inc. will post 12.1 earnings per share for the current fiscal year.

Cummins declared that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 7.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Friday, February 21st will be issued a $1.311 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $5.24 annualized dividend and a yield of 3.14%. Cummins’s dividend payout ratio is currently 34.82%.

Several large investors have recently made changes to their positions in CMI. TRUE Private Wealth Advisors acquired a new position in shares of Cummins during the 4th quarter worth approximately $26,000. Aigen Investment Management LP acquired a new position in shares of Cummins during the 4th quarter worth approximately $29,000. Allred Capital Management LLC acquired a new position in shares of Cummins during the 4th quarter worth approximately $31,000. Simon Quick Advisors LLC acquired a new position in shares of Cummins during the 4th quarter worth approximately $42,000. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Cummins by 31.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 258 shares of the company’s stock worth $46,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Goldman Sachs Group raised shares of Cummins from a “neutral” rating to a “buy” rating and upped their target price for the company from $192.00 to $200.00 in a report on Thursday. Cowen assumed coverage on shares of Cummins in a report on Wednesday, February 5th. They issued a “hold” rating and a $173.00 target price on the stock. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and set a $207.00 target price on the stock in a report on Friday, November 8th. Credit Suisse Group dropped their target price on shares of Cummins from $214.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Finally, UBS Group raised shares of Cummins from a “sell” rating to a “neutral” rating and increased their price target for the company from $162.00 to $167.00 in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $183.19.

Cummins Company Profile

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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