Amy Rochelle Davis Sells 4,054 Shares of Cummins (NYSE:CMI) Stock

Cummins Inc. (NYSE:CMI) VP Amy Rochelle Davis sold 4,054 shares of Cummins stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total transaction of $2,275,672.36. Following the sale, the vice president directly owned 15,807 shares in the company, valued at $8,873,101.38. This trade represents a 20.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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

NYSE CMI opened at $556.08 on Friday. The firm’s fifty day moving average price is $570.37 and its two-hundred day moving average price is $489.10. The stock has a market cap of $76.83 billion, a PE ratio of 27.10, a PEG ratio of 1.82 and a beta of 1.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $617.98.

Cummins (NYSE:CMI) last released its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, beating the consensus estimate of $5.17 by $0.64. The company had revenue of $8.54 billion for 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%.Cummins’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $5.16 EPS. On average, equities analysts expect that Cummins Inc. will post 22.54 EPS for the current fiscal 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 issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, February 20th. Cummins’s payout ratio is 38.99%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CMI. Vanguard Group Inc. boosted its position in shares of Cummins by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock worth $9,058,841,000 after purchasing an additional 98,544 shares in the last quarter. State Street Corp boosted its holdings in Cummins by 1.4% in the second quarter. State Street Corp now owns 6,539,191 shares of the company’s stock worth $2,141,585,000 after acquiring an additional 92,073 shares in the last quarter. Geode Capital Management LLC grew its stake in Cummins by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock valued at $1,822,534,000 after acquiring an additional 35,286 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Cummins by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock valued at $1,741,004,000 after acquiring an additional 43,722 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cummins by 10,317.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock valued at $1,254,929,000 after acquiring an additional 2,434,876 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CMI. Argus set a $696.00 target price on shares of Cummins in a research report on Tuesday, February 10th. Raymond James Financial lifted their price target on shares of Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Wall Street Zen raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. JPMorgan Chase & Co. raised their target price on Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Finally, Sanford C. Bernstein set a $600.00 target price on Cummins and gave the stock a “market perform” rating in a report on Friday, February 6th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Cummins currently has an average rating of “Moderate Buy” and a consensus target price of $588.93.

About Cummins

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.