Cummins (NYSE:CMI) CAO Nicole Lamb-Hale Sells 2,408 Shares

Cummins Inc. (NYSE:CMI) CAO Nicole Lamb-Hale sold 2,408 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $685.34, for a total transaction of $1,650,298.72. Following the completion of the transaction, the chief accounting officer directly owned 14,084 shares in the company, valued at approximately $9,652,328.56. This represents a 14.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Cummins Stock Performance

Shares of CMI stock opened at $679.25 on Friday. The company’s fifty day simple moving average is $586.92 and its 200-day simple moving average is $543.54. Cummins Inc. has a 52 week low of $305.13 and a 52 week high of $718.08. The company has a current ratio of 1.71, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The company has a market cap of $93.73 billion, a PE ratio of 35.25, a P/E/G ratio of 1.75 and a beta of 1.27.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, May 5th. The company reported $6.15 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 business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter last year, the firm posted $5.96 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Cummins Inc. will post 27.9 EPS for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, February 20th. Cummins’s dividend payout ratio (DPR) is currently 41.52%.

Institutional Investors Weigh In On Cummins

Large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cummins by 8.4% in 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 buying an additional 2,417 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of Cummins by 2.1% in the 3rd quarter. New York State Teachers Retirement System now owns 111,911 shares of the company’s stock valued at $47,268,000 after buying an additional 2,305 shares during the period. Bailard Inc. boosted its holdings in shares of Cummins by 7.2% in the 3rd quarter. Bailard Inc. now owns 59,830 shares of the company’s stock valued at $25,270,000 after buying an additional 4,035 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Cummins by 2.8% in 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 buying an additional 91,956 shares during the period. Finally, Accredited Wealth Management LLC boosted its holdings in shares of Cummins by 3,100.0% in the 3rd quarter. Accredited Wealth Management LLC now owns 3,200 shares of the company’s stock valued at $1,352,000 after buying an additional 3,100 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CMI shares. Morgan Stanley raised their target price on shares of Cummins from $675.00 to $752.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group set a $565.00 price target on shares of Cummins and gave the company a “neutral” rating in a report on Friday, February 6th. Argus set a $696.00 price target on shares of Cummins in a report on Tuesday, February 10th. Barclays raised 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. Finally, Zacks Research lowered 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 issued a Hold rating to the company. Based on data from MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and an average target price of $649.47.

Cummins Company Profile

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.