Cummins (NYSE:CMI) Insider Brett Michael Merritt Sells 701 Shares

Cummins Inc. (NYSE:CMI) insider Brett Michael Merritt sold 701 shares of Cummins stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $688.75, for a total value of $482,813.75. Following the sale, the insider directly owned 10,404 shares of the company’s stock, valued at $7,165,755. This trade represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cummins Stock Up 0.3%

Shares of NYSE CMI opened at $704.49 on Wednesday. The company has a market capitalization of $97.21 billion, a price-to-earnings ratio of 36.56, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. The business has a 50-day moving average of $593.30 and a two-hundred day moving average of $549.49. Cummins Inc. has a 1 year low of $307.90 and a 1 year high of $718.08.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.Cummins’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $5.96 EPS. On average, analysts forecast that Cummins Inc. will post 28.39 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, May 22nd. Cummins’s payout ratio is 41.52%.

More Cummins News

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Cummins continues to benefit from its recent earnings beat, with quarterly EPS of $6.15 topping estimates and revenue coming in slightly above expectations, reinforcing confidence in the company’s operating momentum.
• Positive Sentiment: Several analysts have turned more bullish on CMI, including upgrades and higher price targets from firms such as Barclays and Citigroup, which can help support the stock as investors reassess valuation.
• Positive Sentiment: Recent commentary highlighted Cummins as a strong momentum stock and pointed to broader growth drivers, including exposure to power technology and related industrial demand. Article Title
• Neutral Sentiment: Separate articles compared Cummins’ year-to-date performance with other auto, tires and truck stocks; this is more of a relative-performance check than a new company-specific catalyst. Article Title
• Negative Sentiment: Recent insider selling by executives including VP Nathan Stoner, EVP Bonnie Fetch and VP Marvin Boakye may temper enthusiasm somewhat, since insider sales can sometimes signal limited near-term upside or simply portfolio diversification.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Argus set a $696.00 price target on Cummins in a report on Tuesday, February 10th. Raymond James Financial lifted their price target on Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Truist Financial set a $815.00 target price on Cummins in a report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their target price on Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Evercore reissued an “outperform” rating and issued a $845.00 target price on shares of Cummins in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $677.87.

Institutional Trading of Cummins

Several institutional investors and hedge funds have recently made changes to their positions in the company. Thompson Investment Management Inc. purchased a new stake in Cummins during the 4th quarter valued at approximately $26,000. Activest Wealth Management raised its stake in Cummins by 537.5% during the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after acquiring an additional 43 shares during the last quarter. Cedar Mountain Advisors LLC raised its stake in Cummins by 1,500.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock valued at $26,000 after acquiring an additional 45 shares during the last quarter. Wellington Shields Capital Management LLC purchased a new stake in Cummins during the 4th quarter valued at approximately $27,000. Finally, Flagship Wealth Advisors LLC purchased a new stake in Cummins during the 3rd quarter valued at approximately $28,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Company Profile

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.