Sharon R. Barner Sells 162 Shares of Cummins Inc. (NYSE:CMI) Stock

Cummins Inc. (NYSE:CMIGet Free Report) VP Sharon R. Barner sold 162 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Cummins Trading Up 3.2 %

Shares of CMI stock opened at $366.34 on Thursday. Cummins Inc. has a twelve month low of $220.02 and a twelve month high of $370.21. The stock has a market cap of $50.25 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 1.75 and a beta of 0.97. The company’s 50-day moving average price is $324.91 and its 200-day moving average price is $300.14. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMIGet Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. Cummins’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business posted $4.73 EPS. As a group, equities analysts predict that Cummins Inc. will post 20.44 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be paid a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 1.99%. Cummins’s dividend payout ratio (DPR) is 48.08%.

Analysts Set New Price Targets

Several research firms recently weighed in on CMI. Barclays upped their price target on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Citigroup lifted their price target on Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Truist Financial increased their price objective on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $294.00 to $408.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus price target of $334.33.

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Hedge Funds Weigh In On Cummins

Several large investors have recently modified their holdings of CMI. Cultivar Capital Inc. purchased a new stake in Cummins in the 2nd quarter valued at about $28,000. Prospera Private Wealth LLC purchased a new stake in shares of Cummins in the 3rd quarter valued at approximately $32,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Cummins in the 2nd quarter worth approximately $28,000. Lynx Investment Advisory purchased a new position in shares of Cummins during the 2nd quarter worth approximately $29,000. Finally, LRI Investments LLC acquired a new stake in Cummins in the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

About Cummins

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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.

Further Reading

Insider Buying and Selling by Quarter for Cummins (NYSE:CMI)

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