Insider Selling: Cummins Inc. (NYSE:CMI) VP Sells 4,750 Shares of Stock

Cummins Inc. (NYSE:CMIGet Rating) VP Sharon R. Barner sold 4,750 shares of Cummins stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $205.00, for a total transaction of $973,750.00. Following the completion of the sale, the vice president now directly owns 16,348 shares of the company’s stock, valued at $3,351,340. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of NYSE CMI opened at $196.18 on Thursday. Cummins Inc. has a 12-month low of $187.72 and a 12-month high of $270.84. The company has a market cap of $27.68 billion, a P/E ratio of 14.60, a P/E/G 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. The stock has a fifty day moving average price of $200.40 and a 200 day moving average price of $215.77.

Cummins (NYSE:CMIGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.55 by $0.49. The company had revenue of $6.39 billion during the quarter, compared to analysts’ expectations of $6.06 billion. Cummins had a net margin of 8.00% and a return on equity of 23.19%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.04 EPS. On average, sell-side analysts forecast that Cummins Inc. will post 17.67 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Friday, May 20th will be given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.96%. Cummins’s payout ratio is currently 43.15%.

A number of large investors have recently bought and sold shares of CMI. Cyrus J. Lawrence LLC purchased a new position in Cummins in the 1st quarter valued at about $25,000. Mystic Asset Management Inc. purchased a new position in Cummins in the 4th quarter valued at about $27,000. KRS Capital Management LLC purchased a new position in Cummins in the 4th quarter valued at about $30,000. Steward Financial Group LLC purchased a new position in Cummins in the 4th quarter valued at about $32,000. Finally, Cassady Schiller Wealth Management LLC bought a new position in shares of Cummins during the fourth quarter worth about $39,000. 80.50% of the stock is owned by institutional investors.

CMI has been the topic of a number of research analyst reports. Citigroup decreased their price target on shares of Cummins from $260.00 to $220.00 in a report on Tuesday, April 12th. Morgan Stanley decreased their price target on shares of Cummins from $251.00 to $249.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 18th. Zacks Investment Research upgraded shares of Cummins from a “sell” rating to a “hold” rating and set a $204.00 price target on the stock in a report on Friday, April 15th. Credit Suisse Group decreased their price target on shares of Cummins from $304.00 to $270.00 in a report on Wednesday, May 4th. Finally, UBS Group lowered shares of Cummins from a “buy” rating to a “neutral” rating and decreased their price target for the company from $260.00 to $214.00 in a report on Friday, March 18th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target 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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