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

Cummins Inc. (NYSE:CMI) VP Amy Rochelle Davis sold 4,054 shares of the firm’s stock in a transaction 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 sale, the vice president directly owned 15,807 shares in the company, valued at $8,873,101.38. The trade was a 20.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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 value of $1,093,496.96.

Cummins Stock Up 1.5%

Shares of CMI traded up $8.63 on Wednesday, hitting $568.72. The company’s stock had a trading volume of 443,043 shares, compared to its average volume of 1,000,504. The firm’s fifty day moving average price is $568.58 and its 200-day moving average price is $488.03. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $617.98. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $78.57 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 1.84 and a beta of 1.12.

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

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Friday, February 20th will be issued 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 payout ratio is 38.99%.

Hedge Funds Weigh In On Cummins

A number of institutional investors have recently bought and sold shares of CMI. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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 worth $1,254,929,000 after buying an additional 2,434,876 shares in the last quarter. Norges Bank acquired a new position in shares of Cummins in the fourth quarter valued at about $863,441,000. Boston Partners bought a new position in Cummins during the third quarter worth about $473,471,000. London Co. of Virginia acquired a new stake in Cummins in the 3rd quarter worth about $231,732,000. Finally, American Century Companies Inc. boosted its holdings in Cummins by 138.8% in the 2nd quarter. American Century Companies Inc. now owns 909,653 shares of the company’s stock valued at $297,912,000 after purchasing an additional 528,689 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wall Street Zen upgraded Cummins from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Barclays boosted their price objective on shares of Cummins from $546.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Wells Fargo & Company raised their target price on shares of Cummins from $599.00 to $630.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. Raymond James Financial boosted their price target on shares of Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Finally, UBS Group set a $565.00 price objective on Cummins and gave the company a “neutral” rating in a report on Friday, February 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $588.93.

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.