Sharon R. Barner Sells 162 Shares of Cummins Inc. (NYSE:CMI) Stock

by · The Markets Daily

Cummins Inc. (NYSE:CMI – Get Free Report) VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Cummins Stock Down 0.8 %

Shares of CMI traded down $2.83 on Tuesday, reaching $355.60. The company’s stock had a trading volume of 152,208 shares, compared to its average volume of 1,490,231. The firm has a fifty day moving average of $323.90 and a 200-day moving average of $299.69. The stock has a market capitalization of $48.78 billion, a PE ratio of 23.67, a PEG ratio of 1.77 and a beta of 0.97. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.43. 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 announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate 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 net margin of 6.13% and a return on equity of 26.86%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm earned $4.73 EPS. Equities analysts predict that Cummins Inc. will post 20.32 EPS for the current year.

Cummins Announces Dividend

The company 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 dividend of $1.82 per share. 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%.

Wall Street Analyst Weigh In

CMI has been the subject of a number of recent research reports. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Truist Financial increased their price target on Cummins from $349.00 to $371.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Robert W. Baird raised their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. 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, JPMorgan Chase & Co. increased their target price on shares of Cummins from $285.00 to $340.00 and gave the stock an “underweight” rating in a research note on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cummins has a consensus rating of “Hold” and an average price target of $324.83.

View Our Latest Report on CMI

Hedge Funds Weigh In On Cummins

Several large investors have recently modified their holdings of CMI. Cultivar Capital Inc. purchased a new stake in shares of Cummins in the 2nd quarter worth $28,000. Prospera Private Wealth LLC purchased a new stake in Cummins during the 3rd quarter valued at $32,000. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Cummins in the 2nd quarter worth about $28,000. Lynx Investment Advisory purchased a new position in shares of Cummins during the second quarter valued at approximately $29,000. Finally, LRI Investments LLC purchased a new stake in shares of Cummins during the first quarter valued at $31,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

About Cummins

(Get Free Report)

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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