Cummins Inc. (NYSE:CMI) VP Sharon R. Barner Sells 2,163 Shares

Cummins Inc. (NYSE:CMI - Get Free Report) VP Sharon R. Barner sold 2,163 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total value of $784,065.87. Following the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,540,879.47. This trade represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Cummins Trading Down 0.5 %

NYSE:CMI traded down $1.88 during trading hours on Friday, reaching $361.85. 530,828 shares of the company were exchanged, compared to its average volume of 1,481,105. Cummins Inc. has a 52-week low of $220.02 and a 52-week high of $370.21. The stock has a 50 day simple moving average of $327.55 and a 200 day simple moving average of $301.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The firm has a market cap of $49.64 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 1.79 and a beta of 0.97.

Cummins (NYSE:CMI - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the company earned $4.73 earnings per share. The business's revenue was up .3% compared to the same quarter last year. As a group, analysts predict that Cummins Inc. will post 20.61 EPS for the current year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Friday, November 22nd will be issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins's dividend payout ratio is presently 48.08%.

Institutional Trading of Cummins

Hedge funds have recently added to or reduced their stakes in the business. Koshinski Asset Management Inc. raised its stake in Cummins by 59.5% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,496 shares of the company's stock worth $441,000 after buying an additional 558 shares during the period. Kingsview Wealth Management LLC boosted its stake in shares of Cummins by 45.8% in the first quarter. Kingsview Wealth Management LLC now owns 3,462 shares of the company's stock valued at $1,020,000 after buying an additional 1,087 shares during the period. Blair William & Co. IL grew its stake in Cummins by 58.9% during the first quarter. Blair William & Co. IL now owns 23,724 shares of the company's stock worth $6,990,000 after buying an additional 8,793 shares in the last quarter. Banco Santander S.A. lifted its stake in Cummins by 2.0% during the first quarter. Banco Santander S.A. now owns 3,841 shares of the company's stock worth $1,132,000 after purchasing an additional 77 shares during the last quarter. Finally, First Foundation Advisors acquired a new stake in Cummins in the first quarter valued at about $150,000. Institutional investors own 83.46% of the company's stock.

Analysts Set New Price Targets

CMI has been the topic of several research analyst reports. Evercore ISI raised Cummins from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $294.00 to $408.00 in a research report on Wednesday. StockNews.com raised shares of Cummins from a "buy" rating to a "strong-buy" rating in a report on Wednesday, November 6th. Truist Financial raised their price objective on Cummins from $349.00 to $371.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. Robert W. Baird upped their target price on Cummins from $330.00 to $372.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Finally, Vertical Research lowered shares of Cummins from a "buy" rating to a "hold" rating and set a $350.00 price objective for the company. in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $334.33.

About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers 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; and offers parts and services, as well as remanufactured parts and engines.