Insider Selling: Cummins Inc. (NYSE:CMI) CEO Sells 10,447 Shares of Stock

Share on StockTwits

Cummins Inc. (NYSE:CMI) CEO Norman Thomas Linebarger sold 10,447 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $167.54, for a total transaction of $1,750,290.38. Following the completion of the sale, the chief executive officer now directly owns 95,636 shares in the company, valued at $16,022,855.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of CMI stock opened at $166.78 on Friday. Cummins Inc. has a one year low of $141.14 and a one year high of $186.73. The company’s 50-day moving average is $170.59 and its 200 day moving average is $168.05. The company has a market capitalization of $25.45 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 2.11 and a beta of 1.15. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 1.50.

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

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

Cummins declared that its board has initiated a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

A number of analysts have recently weighed in on CMI shares. Oppenheimer started coverage on shares of Cummins in a research report on Tuesday, February 4th. They issued a “hold” rating on the stock. Citigroup reduced their target price on shares of Cummins from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. ValuEngine raised shares of Cummins from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Wells Fargo & Co raised shares of Cummins from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $180.00 to $205.00 in a research report on Tuesday, January 14th. Finally, Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and set a $207.00 price objective on the stock in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $183.19.

Institutional investors and hedge funds have recently bought and sold shares of the business. TRUE Private Wealth Advisors bought a new position in Cummins during the 4th quarter valued at about $26,000. Aigen Investment Management LP bought a new position in Cummins during the 4th quarter valued at about $29,000. Allred Capital Management LLC bought a new position in Cummins during the 4th quarter valued at about $31,000. Simon Quick Advisors LLC bought a new position in Cummins during the 4th quarter valued at about $42,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in Cummins by 31.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 258 shares of the company’s stock valued at $46,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 82.98% of the company’s stock.

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.

Read More: Cash Flow

Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2020 BBNS.