Cummins Inc. (NYSE:CMI - Get Free Report) VP Sharon R. Barner sold 162 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,427,503.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Cummins Stock Down 0.9 %
CMI opened at $355.07 on Wednesday. The firm has a market cap of $48.71 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.77 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 1.32. The firm's 50-day simple moving average is $323.90 and its 200-day simple moving average is $299.69. Cummins Inc. has a twelve month low of $216.91 and a twelve month high of $370.21.
Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm had revenue of $8.46 billion for the quarter, compared to analysts' expectations of $8.29 billion. During the same period in the prior year, the firm earned $4.73 earnings per share. The company's quarterly revenue was up .3% compared to the same quarter last year. Equities research analysts anticipate that Cummins Inc. will post 20.32 EPS for the current fiscal year.
Cummins Dividend Announcement
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd will be given a $1.82 dividend. The ex-dividend date is Friday, November 22nd. This represents a $7.28 annualized dividend and a yield of 2.05%. Cummins's payout ratio is 48.08%.
Hedge Funds Weigh In On Cummins
Institutional investors and hedge funds have recently bought and sold shares of the business. Cultivar Capital Inc. bought a new position in shares of Cummins in the second quarter valued at about $28,000. Prospera Private Wealth LLC bought a new position in shares of Cummins in the third quarter worth about $32,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Cummins during the second quarter worth approximately $28,000. Lynx Investment Advisory bought a new stake in shares of Cummins during the second quarter valued at approximately $29,000. Finally, LRI Investments LLC acquired a new stake in shares of Cummins in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 83.46% of the company's stock.
Analyst Ratings Changes
CMI has been the topic of several research analyst reports. Evercore ISI raised their price target on shares of Cummins from $290.00 to $294.00 and gave the stock an "in-line" rating in a research report on Monday, August 19th. Truist Financial lifted their target price on Cummins from $349.00 to $371.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Citigroup upped their price target on Cummins from $345.00 to $375.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Vertical Research lowered Cummins from a "buy" rating to a "hold" rating and set a $350.00 price objective on the stock. in a report on Wednesday, November 6th. Finally, Robert W. Baird boosted their price objective on Cummins from $330.00 to $372.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cummins presently has an average rating of "Hold" and a consensus price target of $324.83.
View Our Latest Analysis on CMI
Cummins Company Profile
(
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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.
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