Insider Selling: Cummins (NYSE:CMI) VP Sells $421,294.42 in Stock

Cummins Inc. (NYSE:CMI) VP Nathan Stoner sold 607 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $694.06, for a total transaction of $421,294.42. Following the transaction, the vice president directly owned 9,447 shares of the company’s stock, valued at $6,556,784.82. This represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cummins Price Performance

Shares of CMI opened at $710.88 on Thursday. The stock has a market capitalization of $98.09 billion, a P/E ratio of 36.89, a P/E/G ratio of 1.78 and a beta of 1.27. Cummins Inc. has a twelve month low of $307.90 and a twelve month high of $718.08. The company has a 50 day moving average of $595.91 and a 200-day moving average of $551.55. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period last year, the business earned $5.96 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, equities research 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. Investors of record on Friday, May 22nd will be paid a $2.00 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $8.00 annualized dividend and a dividend yield of 1.1%. Cummins’s dividend payout ratio (DPR) is currently 41.52%.

Analyst Upgrades and Downgrades

CMI has been the subject of a number of research analyst reports. Wolfe Research cut shares of Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price objective for the company. in a research report on Monday, January 26th. Raymond James Financial boosted their price target on Cummins from $585.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Evercore reaffirmed an “outperform” rating and issued a $845.00 price target on shares of Cummins in a research note on Monday. Morgan Stanley lifted their target price on Cummins from $675.00 to $752.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company boosted their price target on Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus 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 have recently added to or reduced their stakes in the business. Valmark Advisers Inc. lifted its stake in Cummins by 1.9% in the first quarter. Valmark Advisers Inc. now owns 877 shares of the company’s stock valued at $472,000 after buying an additional 16 shares during the period. Nicolet Advisory Services LLC raised its position in Cummins by 1.6% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company’s stock valued at $619,000 after buying an additional 17 shares during the last quarter. Uhlmann Price Securities LLC raised its position in Cummins by 2.4% in the 1st quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock valued at $386,000 after buying an additional 17 shares during the last quarter. Frank Rimerman Advisors LLC raised its position in Cummins by 0.5% in the 4th quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock valued at $1,908,000 after buying an additional 18 shares during the last quarter. Finally, Financial Consulate Inc. grew its stake in Cummins by 16.8% in the 4th quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock valued at $64,000 after purchasing an additional 18 shares during the period. 83.46% of the stock is owned by institutional investors and hedge funds.

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.