Cummins VP Sells $585,135 in Stock (CMI)
Cummins (NYSE:CMI) VP Steven Chapman sold 4,500 shares of the stock on the open market in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $130.03, for a total value of $585,135.00. Following the completion of the sale, the vice president now directly owns 19,786 shares in the company. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on CMI. Analysts at Credit Suisse raised their price target on shares of Cummins (NYSE:CMI) from $134.00 to $136.00 in a research note to investors on Thursday, August 1st. They now have an “outperform” rating on the stock. Separately, analysts at Barclays Capital raised their price target on shares of Cummins (NYSE:CMI) from $130.00 to $134.00 in a research note to investors on Thursday, August 1st. They now have an “overweight” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Cummins (NYSE:CMI) from $120.00 to $138.00 in a research note to investors on Wednesday, July 31st. They now have an “outperform” rating on the stock.
Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $128.08.
Cummins (NYSE:CMI) traded up 0.45% on Wednesday, hitting $132.34. The stock had a trading volume of 826,031 shares. Cummins has a 1-year low of $85.88 and a 1-year high of $132.40. The stock has a 50-day moving average of $123.3 and a 200-day moving average of $116.4. The company has a market cap of $24.602 billion and a price-to-earnings ratio of 17.55.
Cummins (NYSE:CMI) last released its earnings data on Tuesday, July 30th. The company reported $2.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.99 by $0.21. The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the company posted $2.45 earnings per share. Cummins’s revenue was up 1.6% compared to the same quarter last year. On average, analysts predict that Cummins will post $8.16 earnings per share for the current fiscal year.
Cummins Inc is a diesel engine manufacturer. The Company designs, manufactures, distributes and services diesel and natural gas engines, electric power generation systems and engine-related component products, including filtration, exhaust aftertreatment, fuel systems, fuel systems, controls systems, air handling systems and electric power.
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