Cummins Inc. (NYSE:CMI – Get Rating) VP Sharon R. Barner sold 5,000 shares of the company’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $204.34, for a total transaction of $1,021,700.00. Following the completion of the sale, the vice president now directly owns 16,348 shares in the company, valued at $3,340,550.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
CMI traded down $6.64 on Tuesday, reaching $196.07. The company had a trading volume of 13,011 shares, compared to its average volume of 1,204,688. The company has a fifty day moving average of $200.85 and a 200-day moving average of $216.04. The company has a market capitalization of $27.86 billion, a P/E ratio of 14.78, a PEG ratio of 1.29 and a beta of 1.03. The company has a current ratio of 1.68, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. Cummins Inc. has a one year low of $187.72 and a one year high of $273.65.
Cummins (NYSE:CMI – Get Rating) last announced its earnings results on Tuesday, May 3rd. The company reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.55 by $0.49. Cummins had a net margin of 8.00% and a return on equity of 23.19%. The firm had revenue of $6.39 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the prior year, the firm posted $4.04 EPS. Cummins’s revenue was up 4.8% compared to the same quarter last year. Research analysts predict that Cummins Inc. will post 17.67 EPS for the current year.
Several research firms recently issued reports on CMI. Citigroup cut their price target on shares of Cummins from $260.00 to $220.00 in a report on Tuesday, April 12th. Credit Suisse Group lowered their target price on shares of Cummins from $304.00 to $270.00 in a research note on Wednesday, May 4th. Zacks Investment Research upgraded shares of Cummins from a “sell” rating to a “hold” rating and set a $204.00 target price for the company in a research note on Friday, April 15th. Morgan Stanley lowered their target price on shares of Cummins from $251.00 to $249.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Cummins from $256.00 to $233.00 and set a “hold” rating for the company in a research note on Thursday, April 14th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $255.27.
About Cummins (Get Rating)
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 New Power. 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 new parts and services, as well as remanufactured parts and engines.
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