Cummins Inc. (NYSE:CMI - Get Free Report) VP Amy Rochelle Davis sold 4,054 shares of the firm's stock in a transaction 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 transaction, the vice president directly owned 15,807 shares of the company's stock, valued at $8,873,101.38. The trade was a 20.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
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 Trading Up 2.5%
Shares of Cummins stock opened at $574.08 on Thursday. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $617.98. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $569.66 and a 200-day moving average price of $488.64. The firm has a market cap of $79.32 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.77 and a beta of 1.12.
Cummins (NYSE:CMI - Get Free Report) last released its quarterly earnings results 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 business had revenue of $8.54 billion during the quarter, compared to analysts' expectations of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $5.16 EPS. Equities research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.
Cummins Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Friday, February 20th will be given a dividend of $2.00 per share. The ex-dividend date is Friday, February 20th. This represents a $8.00 annualized dividend and a yield of 1.4%. Cummins's dividend payout ratio (DPR) is 38.99%.
Analyst Upgrades and Downgrades
CMI has been the topic of several recent research reports. Truist Financial restated a "buy" rating and set a $703.00 target price (up from $653.00) on shares of Cummins in a research report on Friday, February 6th. UBS Group set a $565.00 price objective on Cummins and gave the company a "neutral" rating in a research report on Friday, February 6th. Robert W. Baird set a $580.00 price objective on Cummins in a research note on Friday, February 6th. Barclays boosted their target price on Cummins from $546.00 to $610.00 and gave the company an "overweight" rating in a research report on Friday, January 23rd. Finally, Wolfe Research downgraded Cummins from an "outperform" rating to a "peer perform" rating and set a $540.00 price target for the company. in a research report on Monday, January 26th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $588.93.
View Our Latest Research Report on CMI
Institutional Investors Weigh In On Cummins
A number of institutional investors and hedge funds have recently modified their holdings of CMI. Vanguard Group Inc. increased its stake in Cummins by 0.6% in the fourth 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 during the period. State Street Corp grew its holdings in shares of 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 purchasing an additional 92,073 shares during the last quarter. Geode Capital Management LLC increased its stake in Cummins by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company's stock worth $1,822,534,000 after buying an additional 35,286 shares during the period. Fisher Asset Management LLC lifted its holdings in Cummins by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company's stock valued at $1,741,004,000 after buying an additional 43,722 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Cummins by 10,317.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company's stock valued at $1,254,929,000 after buying an additional 2,434,876 shares during the period. 83.46% of the stock is owned by institutional investors.
Cummins Company Profile
(
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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