Cummins Inc. (NYSE:CMI) VP Sells $1,021,700.00 in Stock

Cummins Inc. (NYSE:CMIGet 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:CMIGet 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.

A number of hedge funds and other institutional investors have recently modified their holdings of CMI. Norges Bank acquired a new stake in Cummins in the 4th quarter valued at about $302,269,000. EP Wealth Advisors LLC lifted its holdings in Cummins by 7,718.0% in the 3rd quarter. EP Wealth Advisors LLC now owns 505,511 shares of the company’s stock valued at $859,000 after acquiring an additional 499,045 shares during the last quarter. Castleview Partners LLC purchased a new stake in Cummins during the fourth quarter valued at about $2,214,000. Voloridge Investment Management LLC lifted its stake in Cummins by 5,773.0% during the third quarter. Voloridge Investment Management LLC now owns 401,069 shares of the company’s stock valued at $90,064,000 after buying an additional 394,240 shares in the last quarter. Finally, Epoch Investment Partners Inc. purchased a new stake in Cummins during the third quarter valued at about $87,129,000. 80.50% of the stock is owned by institutional investors.

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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