Brett Michael Merritt Sells 701 Shares of Cummins (NYSE:CMI) Stock

Cummins Inc. (NYSE:CMI) insider Brett Michael Merritt sold 701 shares of Cummins stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $688.75, for a total value of $482,813.75. Following the transaction, the insider owned 10,404 shares of the company’s stock, valued at $7,165,755. This represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Cummins Price Performance

Shares of NYSE:CMI opened at $710.88 on Thursday. The business’s fifty day moving average price is $595.91 and its two-hundred day moving average price is $551.55. The stock has a market cap 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. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. Cummins Inc. has a one year low of $307.90 and a one year high of $718.08.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period in the previous year, the firm posted $5.96 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts forecast that Cummins Inc. will post 28.39 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd will be issued a $2.00 dividend. 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 41.52%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Sanford C. Bernstein set a $600.00 price objective on shares of Cummins and gave the company a “market perform” rating in a research report on Friday, February 6th. Evercore reaffirmed an “outperform” rating and issued a $845.00 target price on shares of Cummins in a research note on Monday. JPMorgan Chase & Co. boosted their price target on Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Barclays increased their price target on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Truist Financial set a $815.00 price objective on Cummins in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $677.87.

Key Stories Impacting Cummins

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.

Hedge Funds Weigh In On Cummins

Several institutional investors and hedge funds have recently bought and sold shares of CMI. Vanguard Group Inc. grew its stake in shares of Cummins by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock valued at $9,058,841,000 after buying an additional 98,544 shares during the period. State Street Corp raised its position in shares of Cummins by 0.8% in the 4th quarter. State Street Corp now owns 6,509,852 shares of the company’s stock worth $3,322,954,000 after buying an additional 49,628 shares during the period. Geode Capital Management LLC boosted its holdings in Cummins by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock valued at $1,822,534,000 after acquiring an additional 35,286 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Cummins by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock valued at $1,741,004,000 after acquiring an additional 43,722 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Cummins by 10,317.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock valued at $1,254,929,000 after acquiring an additional 2,434,876 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

About Cummins

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.