Cummins Inc. (NYSE:CMI) Director Sells $311,407.20 in Stock

Cummins Inc. (NYSE:CMIGet Rating) Director Franklin R. Changdiaz sold 1,560 shares of the company’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $199.62, for a total transaction of $311,407.20. Following the transaction, the director now owns 4,842 shares of the company’s stock, valued at $966,560.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

NYSE:CMI traded up $6.51 during trading hours on Wednesday, reaching $203.02. 20,064 shares of the company traded hands, compared to its average volume of 1,177,003. The business’s 50-day moving average price is $201.06 and its two-hundred day moving average price is $213.20. The stock has a market capitalization of $28.65 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.29 and a beta of 1.03. Cummins Inc. has a 1 year low of $187.72 and a 1 year high of $265.09. The company has a current ratio of 1.68, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37.

Cummins (NYSE:CMIGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $4.04 EPS for the quarter, topping the consensus estimate of $3.55 by $0.49. Cummins had a return on equity of 23.19% and a net margin of 8.00%. The company had revenue of $6.39 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the previous year, the company posted $4.04 earnings per share. Cummins’s revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts anticipate that Cummins Inc. will post 17.68 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 2nd. Stockholders of record on Friday, May 20th will be given a $1.45 dividend. The ex-dividend date is Thursday, May 19th. This represents a $5.80 annualized dividend and a dividend yield of 2.86%. Cummins’s payout ratio is 43.15%.

Several equities research analysts have issued reports on the stock. Citigroup lowered their price target on shares of Cummins from $260.00 to $220.00 in a report on Tuesday, April 12th. StockNews.com upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research report on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Cummins from $256.00 to $233.00 and set a “hold” rating on the stock in a research report on Thursday, April 14th. Zacks Investment Research upgraded shares of Cummins from a “sell” rating to a “hold” rating and set a $204.00 target price on the stock in a research report on Friday, April 15th. Finally, Credit Suisse Group cut their price target on shares of Cummins from $304.00 to $270.00 in a research report on Wednesday, May 4th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $248.30.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Cummins by 4.6% during the first quarter. BlackRock Inc. now owns 12,299,282 shares of the company’s stock valued at $2,522,705,000 after buying an additional 544,899 shares during the last quarter. State Street Corp lifted its holdings in shares of Cummins by 1.1% during the 4th quarter. State Street Corp now owns 6,751,839 shares of the company’s stock valued at $1,472,846,000 after purchasing an additional 74,697 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Cummins by 4.2% during the 3rd quarter. Capital Research Global Investors now owns 3,402,903 shares of the company’s stock valued at $764,156,000 after purchasing an additional 135,846 shares during the last quarter. Geode Capital Management LLC raised its stake in Cummins by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 2,823,165 shares of the company’s stock worth $614,408,000 after acquiring an additional 100,129 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Cummins by 7.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,370,151 shares of the company’s stock worth $486,142,000 after acquiring an additional 173,139 shares during the last quarter. Institutional investors and hedge funds own 80.50% of the company’s stock.

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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