Cummins (NYSE:CMI) VP Earl Newsome Sells 1,300 Shares of Stock

Cummins Inc. (NYSE:CMI) VP Earl Newsome sold 1,300 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $583.67, for a total value of $758,771.00. Following the completion of the sale, the vice president directly owned 3,389 shares in the company, valued at approximately $1,978,057.63. This represents a 27.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Cummins Stock Down 1.2%

Shares of NYSE CMI opened at $586.30 on Tuesday. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $617.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. The business has a fifty day moving average of $559.60 and a two-hundred day moving average of $480.14. The stock has a market cap of $81.01 billion, a PE ratio of 28.57, a PEG ratio of 1.88 and a beta of 1.13.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, topping the consensus estimate of $5.17 by $0.64. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The business had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the prior year, the firm earned $5.16 EPS. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Friday, February 20th will be paid a $2.00 dividend. The ex-dividend date is Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.4%. Cummins’s payout ratio is 38.99%.

Institutional Trading of Cummins

A number of institutional investors have recently made changes to their positions in CMI. Thompson Investment Management Inc. acquired a new stake in Cummins in the 4th quarter valued at $26,000. Activest Wealth Management raised its stake in shares of Cummins by 537.5% during the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after purchasing an additional 43 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new stake in shares of Cummins in the 4th quarter valued at approximately $27,000. Flagship Wealth Advisors LLC bought a new position in shares of Cummins in the third quarter valued at $28,000. Finally, Birchwood Financial Partners Inc. acquired a new position in Cummins during the fourth quarter worth $28,000. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CMI. Wall Street Zen upgraded Cummins from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Raymond James Financial upped their price target on shares of Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Barclays boosted their target price on shares of Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a research note on Monday, December 29th. Finally, Robert W. Baird set a $580.00 price objective on shares of Cummins in a research report on Friday, February 6th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $588.93.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.