Cummins (NYSE:CMI) CFO Mark Andrew Smith Sells 200 Shares

Cummins Inc. (NYSE:CMI) CFO Mark Andrew Smith sold 200 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $449.10, for a total value of $89,820.00. Following the completion of the sale, the chief financial officer owned 31,582 shares of the company’s stock, valued at approximately $14,183,476.20. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Mark Andrew Smith also recently made the following trade(s):

• On Monday, October 6th, Mark Andrew Smith sold 8,000 shares of Cummins stock. The shares were sold at an average price of $439.30, for a total value of $3,514,400.00.
• On Tuesday, September 16th, Mark Andrew Smith sold 2,671 shares of Cummins stock. The shares were sold at an average price of $415.00, for a total value of $1,108,465.00.
• On Wednesday, September 17th, Mark Andrew Smith sold 1,580 shares of Cummins stock. The shares were sold at an average price of $419.00, for a total value of $662,020.00.
• On Monday, September 15th, Mark Andrew Smith sold 4,829 shares of Cummins stock. The shares were sold at an average price of $415.06, for a total value of $2,004,324.74.
• On Wednesday, August 13th, Mark Andrew Smith sold 6,500 shares of Cummins stock. The shares were sold at an average price of $405.00, for a total value of $2,632,500.00.
• On Tuesday, August 12th, Mark Andrew Smith sold 6,000 shares of Cummins stock. The shares were sold at an average price of $395.00, for a total value of $2,370,000.00.

Cummins Price Performance

Shares of NYSE CMI opened at $438.34 on Friday. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $449.21. The business has a 50 day moving average price of $415.90 and a two-hundred day moving average price of $362.73. The company has a quick ratio of 1.03, a current ratio of 1.64 and a debt-to-equity ratio of 0.53. The firm has a market cap of $60.40 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.05 and a beta of 1.04.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $6.43 earnings per share for the quarter, beating analysts’ consensus estimates of $5.21 by $1.22. Cummins had a return on equity of 26.96% and a net margin of 8.72%.The firm had revenue of $8.64 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same quarter last year, the firm earned $5.26 EPS. Cummins’s quarterly revenue was down 1.7% on a year-over-year basis. Sell-side analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, November 21st will be given a $2.00 dividend. The ex-dividend date is Friday, November 21st. This represents a $8.00 annualized dividend and a dividend yield of 1.8%. Cummins’s dividend payout ratio (DPR) is presently 37.61%.

Analyst Ratings Changes

Several research analysts have recently commented on CMI shares. Citigroup lifted their target price on Cummins from $425.00 to $485.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Truist Financial lifted their target price on Cummins from $380.00 to $434.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cummins in a research report on Tuesday, October 14th. Robert W. Baird lifted their target price on Cummins from $315.00 to $355.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their target price on Cummins from $400.00 to $460.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $410.50.

Institutional Trading of Cummins

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Cummins by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 17,628,149 shares of the company’s stock valued at $5,773,219,000 after acquiring an additional 344,680 shares in the last quarter. State Street Corp raised its stake in Cummins by 1.4% during the 2nd quarter. State Street Corp now owns 6,539,191 shares of the company’s stock valued at $2,141,585,000 after acquiring an additional 92,073 shares in the last quarter. Geode Capital Management LLC raised its stake in Cummins by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 3,499,240 shares of the company’s stock valued at $1,141,138,000 after acquiring an additional 43,720 shares in the last quarter. Fisher Asset Management LLC raised its stake in Cummins by 4.5% during the 2nd quarter. Fisher Asset Management LLC now owns 3,275,045 shares of the company’s stock valued at $1,072,578,000 after acquiring an additional 142,058 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Cummins by 1.2% during the 1st quarter. Northern Trust Corp now owns 1,905,214 shares of the company’s stock valued at $597,170,000 after acquiring an additional 22,202 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Cummins Company Profile

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.