Cummins Inc. (NYSE:CMI) Director Franklin R. Changdiaz sold 595 shares of Cummins stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $147.86, for a total value of $87,976.70. Following the sale, the director now directly owns 6,157 shares in the company, valued at $910,374.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of NYSE:CMI traded down $0.35 during trading on Friday, reaching $147.11. The stock had a trading volume of 1,814,737 shares, compared to its average volume of 1,552,465. Cummins Inc. has a 52 week low of $124.72 and a 52 week high of $194.18. The company has a current ratio of 1.54, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $23.20 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 0.79 and a beta of 1.16.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, October 30th. The company reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.29. Cummins had a net margin of 5.57% and a return on equity of 29.17%. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.96 billion. During the same quarter in the previous year, the company posted $2.71 earnings per share. Cummins’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, analysts forecast that Cummins Inc. will post 15.34 EPS for the current fiscal year.

Cummins declared that its board has initiated a share repurchase plan on Tuesday, October 9th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to reacquire up to 8.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th will be paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Wednesday, November 14th. Cummins’s dividend payout ratio (DPR) is currently 42.94%.

Large investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB raised its position in Cummins by 6.6% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 17,272 shares of the company’s stock worth $2,297,000 after purchasing an additional 1,075 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Cummins in the 2nd quarter worth approximately $615,000. Retirement Systems of Alabama raised its position in Cummins by 2.6% in the 2nd quarter. Retirement Systems of Alabama now owns 111,989 shares of the company’s stock worth $14,895,000 after purchasing an additional 2,858 shares during the last quarter. Oakbrook Investments LLC raised its position in Cummins by 89.7% in the 2nd quarter. Oakbrook Investments LLC now owns 13,507 shares of the company’s stock worth $1,796,000 after purchasing an additional 6,387 shares during the last quarter. Finally, Prospera Financial Services Inc raised its position in Cummins by 270.7% in the 2nd quarter. Prospera Financial Services Inc now owns 12,674 shares of the company’s stock worth $1,683,000 after purchasing an additional 9,255 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Cummins from a “buy” rating to a “hold” rating in a report on Monday, August 27th. ValuEngine raised Cummins from a “strong sell” rating to a “sell” rating in a report on Thursday, November 8th. Oppenheimer decreased their price objective on Cummins from $168.00 to $192.00 and set an “outperform” rating on the stock in a report on Monday, July 23rd. Stifel Nicolaus set a $156.00 price objective on Cummins and gave the company a “buy” rating in a report on Monday, September 10th. Finally, Bank of America lifted their price objective on Cummins from $154.00 to $157.00 and gave the company a “neutral” rating in a report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $163.70.

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About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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