Key Points
- Cummins VP Jennifer Mary Bush sold 5,000 shares on May 12 at an average price of $696.21, generating about $3.48 million. After the sale, she still held 11,986 shares, though her position was reduced by 29.44%.
- The company’s latest quarterly results topped expectations, with EPS of $6.15 versus the $5.63 consensus and revenue of $8.40 billion slightly above estimates. Revenue also rose 2.7% year over year.
- Cummins announced a quarterly dividend of $2.00 per share, payable June 4, implying an annualized payout of $8.00 and a dividend yield of about 1.1%.
Cummins Inc. (NYSE:CMI - Get Free Report) VP Jennifer Mary Bush sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the sale, the vice president directly owned 11,986 shares in the company, valued at $8,344,773.06. This trade represents a 29.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Cummins Stock Performance
Cummins stock opened at $710.88 on Thursday. The firm's 50 day simple moving average is $595.91 and its 200 day simple moving average is $551.55. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $98.09 billion, a PE ratio of 36.89, a price-to-earnings-growth ratio of 1.78 and a beta of 1.27. Cummins Inc. has a 1-year low of $307.90 and a 1-year high of $718.08.
Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter in the prior year, the company earned $5.96 EPS. The firm's revenue was up 2.7% on a year-over-year basis. As a group, analysts expect that Cummins Inc. will post 28.39 earnings per share for the current fiscal year.
Cummins Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, May 22nd will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, May 22nd. Cummins's dividend payout ratio is currently 41.52%.
More Cummins News
Here are the key news stories impacting Cummins this week:
- Positive Sentiment: Cummins’ latest quarterly results beat expectations, with EPS of $6.15 topping estimates and revenue of $8.40 billion slightly ahead of forecasts, reinforcing confidence in business momentum.
- Positive Sentiment: Analysts have turned more bullish, including Citigroup raising its price target to $770, Barclays lifting its target to $760, Evercore reiterating an outperform rating with an $845 target, and Zacks upgrading the stock to strong-buy.
- Positive Sentiment: The company declared a quarterly dividend of $2.00 per share, signaling continued capital returns to shareholders and supporting the stock’s income appeal.
- Neutral Sentiment: Recent coverage highlighted Cummins’ relative performance versus other auto, tires and truck names, but this is more of a comparison piece than a fresh catalyst. Article Title
- Negative Sentiment: Multiple insiders sold shares over the past few days, including VP Jennifer Mary Bush, VP Nathan Stoner, and insider Brett Michael Merritt, which may slightly temper enthusiasm despite the company’s strong operating results.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Zacks Research upgraded shares of Cummins from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Sanford C. Bernstein set a $600.00 price target on shares of Cummins and gave the company a "market perform" rating in a report on Friday, February 6th. Robert W. Baird set a $700.00 price target on shares of Cummins in a report on Wednesday, May 6th. Argus set a $696.00 price target on shares of Cummins in a report on Tuesday, February 10th. Finally, Barclays upped their price target on shares of Cummins from $610.00 to $760.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $677.87.
Get Our Latest Stock Report on Cummins
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in CMI. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cummins by 8.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,031 shares of the company's stock valued at $13,107,000 after acquiring an additional 2,417 shares during the last quarter. Bailard Inc. boosted its holdings in shares of Cummins by 7.2% during the 3rd quarter. Bailard Inc. now owns 59,830 shares of the company's stock valued at $25,270,000 after acquiring an additional 4,035 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Cummins by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company's stock valued at $1,422,121,000 after acquiring an additional 91,956 shares during the last quarter. Accredited Wealth Management LLC boosted its holdings in shares of Cummins by 3,100.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 3,200 shares of the company's stock valued at $1,352,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Cummins by 50.8% in the third quarter. Bank of New York Mellon Corp now owns 1,450,659 shares of the company's stock worth $612,715,000 after buying an additional 488,430 shares during the last quarter. 83.46% of the stock is currently 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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
