Insider Selling: Cummins (NYSE:CMI) VP Sells $2,275,672.36 in Stock

Cummins Inc. (NYSE:CMI) VP Amy Rochelle Davis sold 4,054 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $561.34, for a total value of $2,275,672.36. Following the completion of the transaction, the vice president directly owned 15,807 shares of the company’s stock, valued at approximately $8,873,101.38. This trade represents a 20.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Amy Rochelle Davis also recently made the following trade(s):

• On Monday, February 23rd, Amy Rochelle Davis sold 1,864 shares of Cummins stock. The shares were sold at an average price of $586.64, for a total transaction of $1,093,496.96.

Cummins Stock Performance

Shares of CMI stock opened at $539.59 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average price of $570.78 and a 200-day moving average price of $490.06. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $617.98. The firm has a market capitalization of $74.55 billion, a PE ratio of 26.30, a P/E/G ratio of 1.76 and a beta of 1.12.

Cummins (NYSE:CMI) last issued its earnings results on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) 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 company had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.09 billion. During the same quarter last year, the company posted $5.16 earnings per share. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, February 20th. Cummins’s dividend payout ratio (DPR) is 38.99%.

Wall Street Analysts Forecast Growth

CMI has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Raymond James Financial upped their price target on shares of Cummins from $585.00 to $675.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Barclays increased their price objective 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. Truist Financial reissued a “buy” rating and issued a $703.00 price objective (up from $653.00) on shares of Cummins in a report on Friday, February 6th. Finally, Robert W. Baird set a $580.00 target price on shares of Cummins in a research report on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cummins has an average rating of “Moderate Buy” and a consensus target price of $588.93.

Institutional Investors Weigh In On Cummins

Large investors have recently made changes to their positions in the company. Union Savings Bank purchased a new position in Cummins during the 4th quarter valued at approximately $314,000. Mengis Capital Management Inc. increased its stake in Cummins by 0.3% in the 4th quarter. Mengis Capital Management Inc. now owns 6,463 shares of the company’s stock worth $3,299,000 after acquiring an additional 20 shares during the last quarter. Bayban purchased a new stake in shares of Cummins during the 4th quarter worth approximately $55,000. Pure Financial Advisors LLC raised its holdings in shares of Cummins by 17.9% during the 4th quarter. Pure Financial Advisors LLC now owns 994 shares of the company’s stock worth $508,000 after acquiring an additional 151 shares in the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Cummins during the 4th quarter valued at approximately $1,531,000. 83.46% of the stock is owned by institutional investors.

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.