Insider Selling: Pat Ward Sells 4,000 Shares of Cummins Stock (CMI)
Cummins (NYSE:CMI) CFO Pat Ward unloaded 4,000 shares of the company’s stock on the open market in a transaction dated Monday, September 9th. The stock was sold at an average price of $129.95, for a total value of $519,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
CMI has been the subject of a number of recent research reports. 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 investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $128.08.
Shares of Cummins (NYSE:CMI) traded up 0.45% during mid-day trading on Wednesday, hitting $132.34. 826,031 shares of the company’s stock traded hands. Cummins has a 52-week low of $85.88 and a 52-week high of $132.40. The stock’s 50-day moving average is $123.3 and its 200-day moving average is $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 issued its quarterly earnings data on Tuesday, July 30th. The company reported $2.20 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $2.45 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts expect that Cummins will post $8.16 EPS 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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