Cummins (NYSE:CMI) Director William Miller Sells 18,107 Shares

Cummins Inc. (NYSE:CMI) Director William Miller sold 18,107 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $597.10, for a total transaction of $10,811,689.70. Following the transaction, the director directly owned 34,243 shares in the company, valued at $20,446,495.30. The trade was a 34.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Cummins Trading Up 2.0%

Shares of Cummins stock traded up $11.51 during trading hours on Friday, reaching $600.30. 992,587 shares of the company’s stock were exchanged, compared to its average volume of 1,039,969. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $617.98. The company has a fifty day moving average of $548.19 and a 200-day moving average of $467.67. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $82.94 billion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 1.89 and a beta of 1.13.

Cummins (NYSE:CMI) last released 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. The firm had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.16 earnings per share. Sell-side analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Friday, February 20th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, February 20th. Cummins’s payout ratio is presently 38.99%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CMI. UBS Group set a $565.00 price objective on Cummins and gave the stock a “neutral” rating in a report on Friday, February 6th. Morgan Stanley restated an “overweight” rating and set a $675.00 price target on shares of Cummins in a research note on Friday, February 6th. Zacks Research cut Cummins from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Sanford C. Bernstein set a $600.00 price target on shares of Cummins and gave the company a “market perform” rating in a report on Friday, February 6th. Finally, Citigroup boosted their price objective on shares of Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $588.93.

Institutional Investors Weigh In On Cummins

A number of large investors have recently added to or reduced their stakes in the company. Bridgewater Associates LP lifted its holdings in Cummins by 560.2% in the 4th quarter. Bridgewater Associates LP now owns 30,783 shares of the company’s stock worth $15,713,000 after buying an additional 26,120 shares in the last quarter. Visionary Wealth Advisors acquired a new position in shares of Cummins in the fourth quarter worth about $217,000. UMB Bank n.a. boosted its holdings in Cummins by 15.7% in the fourth quarter. UMB Bank n.a. now owns 2,566 shares of the company’s stock valued at $1,310,000 after purchasing an additional 348 shares during the last quarter. PCM Encore LLC acquired a new stake in Cummins during the 4th quarter valued at approximately $1,038,000. Finally, Ridge Creek Global Inc acquired a new position in shares of Cummins in the 4th quarter valued at approximately $2,034,000. 83.46% of the stock is owned by institutional investors and hedge funds.

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.