Insider Selling: Cummins (NYSE:CMI) CAO Sells $1,650,298.72 in Stock

Cummins Inc. (NYSE:CMI) CAO Nicole Lamb-Hale sold 2,408 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $685.34, for a total transaction of $1,650,298.72. Following the transaction, the chief accounting officer owned 14,084 shares of the company’s stock, valued at $9,652,328.56. This represents a 14.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Cummins Stock Performance

NYSE CMI opened at $679.25 on Monday. The firm has a market cap of $93.73 billion, a P/E ratio of 35.25, a price-to-earnings-growth ratio of 1.71 and a beta of 1.27. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $586.92 and its 200-day moving average is $543.54. Cummins Inc. has a 12-month low of $305.13 and a 12-month high of $718.08.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping 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 company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period last year, the firm earned $5.96 EPS. Cummins’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts predict that Cummins Inc. will post 28.39 earnings per share for the current year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, February 20th. Cummins’s payout ratio is presently 41.52%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CMI. Thompson Investment Management Inc. bought a new position in Cummins in the 4th quarter valued at $26,000. Activest Wealth Management lifted its holdings in shares of Cummins by 537.5% during the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after acquiring an additional 43 shares during the last quarter. Cedar Mountain Advisors LLC lifted its holdings in shares of Cummins by 1,500.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock worth $26,000 after acquiring an additional 45 shares during the last quarter. Wellington Shields Capital Management LLC bought a new stake in shares of Cummins during the 4th quarter worth $27,000. Finally, Flagship Wealth Advisors LLC bought a new stake in shares of Cummins during the 3rd quarter worth $28,000. 83.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

CMI has been the topic of a number of analyst reports. Raymond James Financial boosted their price objective on Cummins from $585.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. UBS Group set a $565.00 price objective on Cummins and gave the company a “neutral” rating in a research note on Friday, February 6th. JPMorgan Chase & Co. boosted their price objective on shares of Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Sanford C. Bernstein set a $600.00 target price on shares of Cummins and gave the stock a “market perform” rating in a report on Friday, February 6th. Finally, Citigroup raised their price target on shares of Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $649.47.

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.