Sharon R. Barner Sells 3,880 Shares of Cummins Inc. (NYSE:CMI) Stock

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 3,880 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total value of $1,113,016.80. Following the transaction, the vice president now owns 20,873 shares of the company’s stock, valued at $5,987,628.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Cummins Stock Up 0.6 %

NYSE:CMI traded up $1.69 during mid-day trading on Wednesday, reaching $288.60. The stock had a trading volume of 275,801 shares, compared to its average volume of 2,528,114. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84. The stock has a market cap of $39.47 billion, a P/E ratio of 21.02, a PEG ratio of 1.90 and a beta of 1.04. The business’s 50 day moving average is $286.11 and its 200 day moving average is $253.84. Cummins Inc. has a fifty-two week low of $203.18 and a fifty-two week high of $304.24.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.38% and a net margin of 5.70%. The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same quarter last year, the firm posted $4.52 earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, sell-side analysts predict that Cummins Inc. will post 18.45 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were issued a dividend of $1.68 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 annualized dividend and a dividend yield of 2.33%. Cummins’s payout ratio is 49.19%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of Cummins in the 3rd quarter worth approximately $25,000. First United Bank & Trust bought a new position in shares of Cummins in the fourth quarter valued at about $25,000. Private Wealth Management Group LLC acquired a new position in Cummins during the 4th quarter worth about $26,000. Silver Oak Securities Incorporated bought a new stake in Cummins during the 3rd quarter worth about $28,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in Cummins in the 4th quarter valued at about $31,000. 83.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CMI shares. Truist Financial boosted their price target on Cummins from $303.00 to $319.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. TheStreet lowered shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Citigroup boosted their price target on shares of Cummins from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. The Goldman Sachs Group increased their price objective on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, TD Cowen boosted their price objective on Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $282.55.

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.