Cummins (NYSE:CMI) VP Jennifer Mary Bush Sells 4,270 Shares of Stock

Cummins Inc. (NYSE:CMI) VP Jennifer Mary Bush sold 4,270 shares of Cummins stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $584.93, for a total value of $2,497,651.10. Following the sale, the vice president directly owned 15,130 shares in the company, valued at $8,849,990.90. This trade represents a 22.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Cummins Trading Down 1.2%

CMI stock opened at $586.30 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $617.98. The business has a 50 day simple moving average of $559.60 and a two-hundred day simple moving average of $480.14. The company has a market capitalization of $81.00 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 1.88 and a beta of 1.13.

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

Cummins Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CMI. Zacks Research downgraded Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Barclays raised their target price on shares of Cummins from $546.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, January 23rd. Truist Financial reaffirmed a “buy” rating and set a $703.00 price target (up previously from $653.00) on shares of Cummins in a research note on Friday, February 6th. Wells Fargo & Company lifted their price objective on shares of Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Finally, Robert W. Baird set a $580.00 target price on shares of Cummins in a report on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and a consensus target price of $588.93.

Institutional Trading of Cummins

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Cummins by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock worth $9,058,841,000 after acquiring an additional 98,544 shares during the last quarter. State Street Corp increased its stake in Cummins by 1.4% in the second quarter. State Street Corp now owns 6,539,191 shares of the company’s stock worth $2,141,585,000 after purchasing an additional 92,073 shares during the period. Geode Capital Management LLC increased its stake in Cummins by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock worth $1,822,534,000 after purchasing an additional 35,286 shares during the period. Fisher Asset Management LLC lifted its position in shares of Cummins by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock worth $1,741,004,000 after purchasing an additional 43,722 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cummins by 10,317.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock valued at $1,254,929,000 after purchasing an additional 2,434,876 shares during the period. Institutional investors own 83.46% of the company’s stock.

About Cummins

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.