Sharon R. Barner Sells 2,163 Shares of Cummins Inc. (NYSE:CMI) Stock

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 2,163 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $362.49, for a total transaction of $784,065.87. Following the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,540,879.47. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Cummins Stock Down 0.5 %

Shares of CMI stock opened at $361.85 on Friday. The company has a market capitalization of $49.64 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 1.79 and a beta of 0.97. Cummins Inc. has a one year low of $220.02 and a one year high of $370.21. The company’s fifty day moving average price is $328.91 and its 200-day moving average price is $301.64. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company’s revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $4.73 EPS. Sell-side analysts expect that Cummins Inc. will post 20.61 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be given 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 dividend yield of 2.01%. Cummins’s payout ratio is 48.08%.

Wall Street Analyst Weigh In

CMI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a report on Friday, October 11th. Barclays raised their target price on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Citigroup raised their target price on shares of Cummins from $345.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird raised their target price on shares of Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $334.33.

Institutional Trading of Cummins

Several institutional investors and hedge funds have recently modified their holdings of the company. Executive Wealth Management LLC bought a new stake in Cummins in the 3rd quarter valued at $9,538,000. SGL Investment Advisors Inc. bought a new stake in Cummins in the 3rd quarter valued at $6,069,000. Nomura Asset Management Co. Ltd. increased its holdings in Cummins by 4.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 40,826 shares of the company’s stock valued at $13,219,000 after acquiring an additional 1,732 shares during the last quarter. MML Investors Services LLC increased its holdings in Cummins by 4.9% in the 3rd quarter. MML Investors Services LLC now owns 16,154 shares of the company’s stock valued at $5,231,000 after acquiring an additional 758 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its holdings in Cummins by 7.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 10,748 shares of the company’s stock valued at $3,480,000 after acquiring an additional 770 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Cummins Company Profile

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.