Insider Selling: Cummins Inc. (NYSE:CMI) VP Sells 2,163 Shares of Stock

Cummins Inc. (NYSE:CMI) VP Sharon R. Barner sold 2,163 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total transaction of $798,406.56. Following the transaction, the vice president now directly owns 20,803 shares of the company’s stock, valued at $7,678,803.36. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Cummins Stock Up 1.0 %

Cummins stock traded up $3.76 during midday trading on Friday, reaching $372.62. The stock had a trading volume of 404,083 shares, compared to its average volume of 1,458,623. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The stock has a market capitalization of $51.12 billion, a P/E ratio of 24.38, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97. Cummins Inc. has a 1-year low of $222.04 and a 1-year high of $373.34. The firm’s fifty day simple moving average is $334.37 and its 200-day simple moving average is $303.79.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $4.89 by $0.97. The firm had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $4.73 EPS. As a group, analysts expect that Cummins Inc. will post 20.57 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be issued a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 dividend on an annualized basis and a yield of 1.95%. Cummins’s payout ratio is presently 48.08%.

Analyst Ratings Changes

CMI has been the topic of several research analyst reports. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Robert W. Baird raised their price target on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Barclays lifted their price objective on Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Citigroup raised their target price on Cummins from $375.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cummins has a consensus rating of “Hold” and a consensus target price of $337.67.

Institutional Trading of Cummins

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PFG Investments LLC grew its holdings in Cummins by 27.7% during the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after acquiring an additional 485 shares during the last quarter. CWM LLC raised its stake in shares of Cummins by 17.4% in the third quarter. CWM LLC now owns 12,069 shares of the company’s stock worth $3,908,000 after purchasing an additional 1,786 shares during the last quarter. Distillate Capital Partners LLC boosted its holdings in Cummins by 109,309.3% during the 2nd quarter. Distillate Capital Partners LLC now owns 59,081 shares of the company’s stock worth $16,361,000 after acquiring an additional 59,027 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Cummins in the second quarter valued at about $16,329,000. Finally, Cetera Advisors LLC lifted its position in shares of Cummins by 162.9% during the first quarter. Cetera Advisors LLC now owns 22,870 shares of the company’s stock valued at $6,739,000 after purchasing an additional 14,170 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.