Cummins (NYSE:CMI) VP Amy Rochelle Davis Sells 4,054 Shares

Cummins Inc. (NYSE:CMI) VP Amy Rochelle Davis sold 4,054 shares of Cummins stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $561.34, for a total value of $2,275,672.36. Following the completion of the transaction, the vice president directly owned 15,807 shares in the company, valued at $8,873,101.38. This trade represents a 20.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Amy Rochelle Davis also recently made the following trade(s):

• On Monday, February 23rd, Amy Rochelle Davis sold 1,864 shares of Cummins stock. The stock was sold at an average price of $586.64, for a total transaction of $1,093,496.96.

Cummins Price Performance

Shares of Cummins stock opened at $574.08 on Thursday. The company’s fifty day simple moving average is $569.66 and its two-hundred day simple moving average is $488.64. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $617.98. The firm has a market cap of $79.32 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.77 and a beta of 1.12. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, February 5th. The company reported $5.81 earnings per share for the quarter, topping analysts’ consensus estimates of $5.17 by $0.64. The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. Cummins’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $5.16 earnings per share. As a group, equities analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Friday, February 20th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, February 20th. Cummins’s dividend payout ratio (DPR) is currently 38.99%.

Analysts Set New Price Targets

Several analysts recently weighed in on CMI shares. Argus set a $696.00 price target on shares of Cummins in a report on Tuesday, February 10th. Robert W. Baird set a $580.00 target price on shares of Cummins in a research note on Friday, February 6th. Sanford C. Bernstein set a $600.00 price target on shares of Cummins and gave the company a “market perform” rating in a research report on Friday, February 6th. Citigroup raised their price objective on shares of Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Finally, Raymond James Financial upped their target price on Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $588.93.

Hedge Funds Weigh In On Cummins

Hedge funds have recently added to or reduced their stakes in the company. Pure Financial Advisors LLC grew its position in shares of Cummins by 17.9% during the 4th quarter. Pure Financial Advisors LLC now owns 994 shares of the company’s stock valued at $508,000 after acquiring an additional 151 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Cummins during the 4th quarter valued at $1,531,000. Rehmann Capital Advisory Group lifted its stake in shares of Cummins by 4.7% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,413 shares of the company’s stock valued at $1,745,000 after buying an additional 153 shares in the last quarter. SHP Wealth Management bought a new position in Cummins in the 4th quarter worth $86,000. Finally, Employees Provident Fund Board purchased a new stake in Cummins in the 4th quarter worth $39,713,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

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.