Cummins (NYSE:CMI) VP Sells $3,481,050.00 in Stock

Cummins Inc. (NYSE:CMI) VP Jennifer Mary Bush sold 5,000 shares of Cummins stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total value of $3,481,050.00. Following the completion of the transaction, the vice president owned 11,986 shares of the company’s stock, valued at $8,344,773.06. This trade represents a 29.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Cummins Stock Down 2.5%

NYSE:CMI opened at $698.36 on Friday. The company has a market capitalization of $96.37 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 1.81 and a beta of 1.27. Cummins Inc. has a one year low of $307.90 and a one year high of $718.08. The stock has a 50-day simple moving average of $601.51 and a 200 day simple moving average of $554.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $5.96 earnings per share. Sell-side analysts predict that Cummins Inc. will post 28.39 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, May 22nd will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, May 22nd. Cummins’s dividend payout ratio (DPR) is 41.52%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CMI. Wells Fargo & Company lifted their price target on Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Argus set a $696.00 target price on shares of Cummins in a report on Tuesday, February 10th. UBS Group set a $565.00 target price on shares of Cummins and gave the stock a “neutral” rating in a report on Friday, February 6th. JPMorgan Chase & Co. raised their target price on shares of Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley raised their target price on shares of Cummins from $675.00 to $752.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $677.87.

Institutional Investors Weigh In On Cummins

A number of hedge funds have recently made changes to their positions in CMI. Brighton Jones LLC raised its holdings in shares of Cummins by 4.1% during the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock valued at $736,000 after buying an additional 83 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Cummins by 40.8% during the first quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock valued at $1,240,000 after buying an additional 1,146 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Cummins by 2.8% during the second quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock valued at $21,055,000 after buying an additional 1,759 shares during the last quarter. ICW Investment Advisors LLC bought a new stake in shares of Cummins during the second quarter valued at approximately $225,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Cummins during the second quarter valued at approximately $31,000. Institutional investors own 83.46% of the company’s stock.

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.