Cummins Inc. (NYSE:CMI) insider Jill E. Cook sold 7,000 shares of Cummins stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $165.86, for a total value of $1,161,020.00. Following the completion of the transaction, the insider now directly owns 9,671 shares of the company’s stock, valued at $1,604,032.06. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Cummins Inc. (NYSE CMI) traded up 1.10% during trading on Tuesday, reaching $168.30. 727,090 shares of the company were exchanged. The company’s 50-day moving average price is $162.00 and its 200-day moving average price is $153.37. The stock has a market capitalization of $28.16 billion, a P/E ratio of 19.29 and a beta of 1.08. Cummins Inc. has a 1-year low of $116.03 and a 1-year high of $170.68.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, May 2nd. The company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.55. The company had revenue of $4.59 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Cummins had a net margin of 8.25% and a return on equity of 20.87%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.87 EPS. On average, equities analysts forecast that Cummins Inc. will post $7.98 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.60%. This is a boost from Cummins’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Wednesday, August 16th. Cummins’s payout ratio is 46.96%.

WARNING: This article was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The legal version of this article can be read at https://www.americanbankingnews.com/2017/07/25/insider-selling-cummins-inc-nysecmi-insider-sells-7000-shares-of-stock.html.

Several large investors have recently made changes to their positions in the company. Pinnacle Bank acquired a new stake in shares of Cummins during the first quarter valued at $105,000. Carroll Financial Associates Inc. boosted its stake in shares of Cummins by 13.4% in the second quarter. Carroll Financial Associates Inc. now owns 702 shares of the company’s stock valued at $113,000 after buying an additional 83 shares during the last quarter. Cohen Capital Management Inc. acquired a new stake in shares of Cummins during the first quarter valued at $121,000. First Manhattan Co. boosted its stake in shares of Cummins by 4.2% in the first quarter. First Manhattan Co. now owns 997 shares of the company’s stock valued at $127,000 after buying an additional 40 shares during the last quarter. Finally, First Interstate Bank boosted its stake in shares of Cummins by 26.3% in the first quarter. First Interstate Bank now owns 931 shares of the company’s stock valued at $141,000 after buying an additional 194 shares during the last quarter. 80.15% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently commented on the company. ValuEngine raised Cummins from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Cummins from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a research report on Wednesday, April 12th. Credit Suisse Group set a $173.00 target price on Cummins and gave the company a “buy” rating in a research report on Monday, March 27th. Barclays PLC boosted their target price on Cummins from $137.00 to $144.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $150.00 target price on shares of Cummins in a research report on Wednesday, April 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $151.84.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.

Insider Buying and Selling by Quarter for Cummins (NYSE:CMI)

Receive News & Ratings for Cummins Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins Inc. and related companies with MarketBeat.com's FREE daily email newsletter.