Key Points
- VP Donald Jackson sold 1,600 Cummins shares at an average of $600.13 for a total of $960,208, reducing his stake by 18.15% to 7,214 shares valued at roughly $4.33 million.
- Cummins beat quarterly expectations with EPS $5.81 vs. $5.17 and revenue of $8.54 billion vs. $8.09 billion, and declared a $2.00 quarterly dividend (annualized $8.00, yield 1.4%; ex-dividend Feb 20, payable Mar 5).
- The stock recently traded around $581.11, sits in a 52-week range of $260.02–$617.98, has a market cap of about $80.3 billion and a PE ratio near 28.4, with analysts’ consensus rating at "Moderate Buy" (target ~$588.93).
Cummins Inc. (NYSE:CMI - Get Free Report) VP Donald Jackson sold 1,600 shares of the company's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total value of $960,208.00. Following the completion of the transaction, the vice president directly owned 7,214 shares in the company, valued at approximately $4,329,337.82. The trade was a 18.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Cummins Stock Performance
CMI traded down $13.30 on Thursday, reaching $581.11. 51,089 shares of the stock were exchanged, compared to its average volume of 976,568. The company's 50-day moving average price is $563.23 and its 200 day moving average price is $482.42. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $617.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 1.16. The firm has a market capitalization of $80.29 billion, a PE ratio of 28.44, a PEG ratio of 1.90 and a beta of 1.13.
Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, beating analysts' consensus estimates of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The business had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same period in the prior year, the company earned $5.16 earnings per share. The company's revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.
Cummins Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Friday, February 20th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, February 20th. Cummins's dividend payout ratio is 38.99%.
Institutional Investors Weigh In On Cummins
A number of large investors have recently made changes to their positions in CMI. Nicolet Advisory Services LLC boosted its stake in Cummins by 1.6% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company's stock worth $619,000 after buying an additional 17 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in shares of Cummins by 0.5% during the 4th quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company's stock worth $1,908,000 after acquiring an additional 18 shares during the period. Financial Consulate Inc. raised its holdings in shares of Cummins by 16.8% during the 4th quarter. Financial Consulate Inc. now owns 125 shares of the company's stock worth $64,000 after acquiring an additional 18 shares during the period. ICW Investment Advisors LLC boosted its position in shares of Cummins by 2.6% during the 4th quarter. ICW Investment Advisors LLC now owns 723 shares of the company's stock valued at $369,000 after acquiring an additional 18 shares during the last quarter. Finally, Gilbert & Cook Inc. grew its holdings in shares of Cummins by 1.0% in the fourth quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company's stock valued at $947,000 after purchasing an additional 19 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Argus set a $696.00 target price on Cummins in a research note on Tuesday, February 10th. JPMorgan Chase & Co. raised their price objective on Cummins from $485.00 to $580.00 and gave the company a "neutral" rating in a report on Wednesday, January 14th. Robert W. Baird set a $580.00 target price on Cummins in a research note on Friday, February 6th. Barclays boosted their price target on shares of Cummins from $546.00 to $610.00 and gave the stock an "overweight" rating in a report on Friday, January 23rd. Finally, Zacks Research downgraded shares of Cummins from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 28th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $588.93.
View Our Latest Analysis on CMI
About Cummins
(
Get Free Report)
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.
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