Cummins (NYSE:CMI) VP Donald Jackson Sells 1,600 Shares of Stock

Cummins Inc. (NYSE:CMI) VP Donald Jackson sold 1,600 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total value of $960,208.00. Following the transaction, the vice president directly owned 7,214 shares of the company’s stock, valued at approximately $4,329,337.82. The trade was a 18.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Cummins Price Performance

NYSE:CMI traded down $13.30 during trading hours on Thursday, reaching $581.11. The stock had a trading volume of 51,089 shares, compared to its average volume of 976,568. The stock has a market capitalization of $80.29 billion, a PE ratio of 28.44, a PEG ratio of 1.90 and a beta of 1.13. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $617.98. The company has a 50 day moving average price of $563.23 and a two-hundred day moving average price of $482.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76.

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

Cummins Announces Dividend

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

Hedge Funds Weigh In On Cummins

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Cummins by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock worth $9,058,841,000 after acquiring an additional 98,544 shares during the period. State Street Corp raised its stake in shares of Cummins by 1.4% during the 2nd quarter. State Street Corp now owns 6,539,191 shares of the company’s stock worth $2,141,585,000 after acquiring an additional 92,073 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cummins by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock worth $1,822,534,000 after purchasing an additional 35,286 shares in the last quarter. Fisher Asset Management LLC raised its stake in Cummins by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock valued at $1,741,004,000 after buying an additional 43,722 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Cummins by 10,317.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock valued at $1,254,929,000 after purchasing an additional 2,434,876 shares during the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CMI shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a research note on Monday, December 29th. Sanford C. Bernstein set a $600.00 target price on Cummins and gave the stock a “market perform” rating in a report on Friday, February 6th. Robert W. Baird set a $580.00 target price on Cummins in a research report on Friday, February 6th. JPMorgan Chase & Co. raised their price target on Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Finally, Argus set a $696.00 price objective on shares of Cummins in a research note on Tuesday, February 10th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Cummins presently has an average rating of “Moderate Buy” and an average 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.