Earl Newsome Sells 1,300 Shares of Cummins (NYSE:CMI) Stock

Cummins Inc. (NYSE:CMI) VP Earl Newsome sold 1,300 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $583.67, for a total transaction of $758,771.00. Following the transaction, the vice president owned 3,389 shares in the company, valued at approximately $1,978,057.63. This trade represents a 27.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cummins Price Performance

Shares of NYSE:CMI opened at $599.52 on Wednesday. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $617.98. The company has a 50-day moving average price of $561.29 and a 200 day moving average price of $481.63. The company has a market cap of $82.83 billion, a P/E ratio of 29.22, a PEG ratio of 1.86 and a beta of 1.13. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51.

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 analysts’ consensus estimates of $5.17 by $0.64. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $5.16 EPS. Research analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Friday, February 20th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a yield of 1.3%. Cummins’s dividend payout ratio (DPR) is 38.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. UBS Group set a $565.00 price target on shares of Cummins and gave the company a “neutral” rating in a report on Friday, February 6th. JPMorgan Chase & Co. increased their target price on shares of Cummins from $485.00 to $580.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Morgan Stanley reiterated an “overweight” rating and set a $675.00 price target on shares of Cummins in a research report on Friday, February 6th. Sanford C. Bernstein set a $600.00 price objective on Cummins and gave the company a “market perform” rating in a research note on Friday, February 6th. Finally, Wall Street Zen raised Cummins from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $588.93.

Institutional Investors Weigh In On Cummins

A number of large investors have recently bought and sold shares of the stock. Nicolet Advisory Services LLC lifted its position in shares of Cummins by 1.6% in the fourth quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock valued at $619,000 after acquiring an additional 17 shares in the last quarter. Frank Rimerman Advisors LLC lifted its holdings in Cummins by 0.5% in the 4th quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock valued at $1,908,000 after purchasing an additional 18 shares in the last quarter. Financial Consulate Inc. lifted its holdings in Cummins by 16.8% in the 4th quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock valued at $64,000 after purchasing an additional 18 shares in the last quarter. ICW Investment Advisors LLC grew its holdings in shares of Cummins by 2.6% during the fourth quarter. ICW Investment Advisors LLC now owns 723 shares of the company’s stock worth $369,000 after buying an additional 18 shares in the last quarter. Finally, Gilbert & Cook Inc. grew its holdings in shares of Cummins by 1.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company’s stock worth $947,000 after buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

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.