Cummins (NYSE:CMI) VP Jennifer Mary Bush Sells 4,270 Shares

Cummins Inc. (NYSE:CMI) VP Jennifer Mary Bush sold 4,270 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $584.93, for a total transaction of $2,497,651.10. Following the transaction, the vice president directly owned 15,130 shares in the company, valued at approximately $8,849,990.90. This represents a 22.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Cummins Stock Down 1.2%

CMI traded down $6.98 during midday trading on Monday, hitting $586.30. The company had a trading volume of 777,352 shares, compared to its average volume of 1,014,582. The stock’s 50 day moving average price is $558.23 and its 200 day moving average price is $478.72. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $617.98. The company has a market capitalization of $81.00 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 1.88 and a beta of 1.13. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI) last issued its earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating the consensus estimate of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The company had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period last year, the business posted $5.16 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, research analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Friday, February 20th will be issued a dividend of $2.00 per share. The ex-dividend date is Friday, February 20th. This represents a $8.00 annualized dividend and a dividend yield of 1.4%. Cummins’s payout ratio is currently 38.99%.

Institutional Trading of Cummins

Institutional investors and hedge funds have recently modified their holdings of the business. Nicolet Advisory Services LLC increased its position in shares of Cummins by 1.6% during the 4th quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock valued at $619,000 after purchasing an additional 17 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in Cummins by 0.5% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock valued at $1,908,000 after buying an additional 18 shares during the period. Financial Consulate Inc. increased its holdings in Cummins by 16.8% during the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock worth $64,000 after buying an additional 18 shares during the last quarter. ICW Investment Advisors LLC raised its position in Cummins by 2.6% in the fourth quarter. ICW Investment Advisors LLC now owns 723 shares of the company’s stock worth $369,000 after acquiring an additional 18 shares during the period. Finally, Gilbert & Cook Inc. boosted its stake in Cummins by 1.0% in the fourth quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company’s stock valued at $947,000 after acquiring an additional 19 shares during the last quarter. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CMI. Weiss Ratings restated a “buy (b-)” rating on shares of Cummins in a research note on Monday, December 29th. Citigroup lifted their price objective on shares of Cummins from $580.00 to $630.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Truist Financial restated a “buy” rating and issued a $703.00 target price (up previously from $653.00) on shares of Cummins in a report on Friday, February 6th. Zacks Research downgraded Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Finally, Wall Street Zen upgraded Cummins from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $588.93.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.