Franklin R. Changdiaz Sells 1,560 Shares of Cummins Inc. (NYSE:CMI) Stock

Posted by on May 25th, 2022

Cummins Inc. (NYSE:CMI – Get Rating) Director Franklin R. Changdiaz sold 1,560 shares of Cummins stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $199.62, for a total transaction of $311,407.20. Following the completion of the transaction, the director now directly owns 4,842 shares in the company, valued at approximately $966,560.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

NYSE CMI traded up $6.51 during trading on Wednesday, reaching $203.02. The company’s stock had a trading volume of 20,064 shares, compared to its average volume of 1,177,003. The business has a 50-day moving average price of $201.06 and a 200-day moving average price of $213.20. The company has a current ratio of 1.68, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. Cummins Inc. has a 1-year low of $187.72 and a 1-year high of $265.09. The stock has a market capitalization of $28.65 billion, a PE ratio of 14.62, a PEG ratio of 1.29 and a beta of 1.03.

Cummins (NYSE:CMI – Get Rating) last released its earnings results on Tuesday, May 3rd. The company reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.55 by $0.49. Cummins had a net margin of 8.00% and a return on equity of 23.19%. The company had revenue of $6.39 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same period in the prior year, the company posted $4.04 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. As a group, analysts expect that Cummins Inc. will post 17.68 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Friday, May 20th will be given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Thursday, May 19th. Cummins’s dividend payout ratio is presently 43.15%.

Several brokerages have weighed in on CMI. Citigroup dropped their price objective on Cummins from $260.00 to $220.00 in a report on Tuesday, April 12th. Credit Suisse Group reduced their price objective on Cummins from $304.00 to $270.00 in a research note on Wednesday, May 4th. UBS Group downgraded Cummins from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $260.00 to $214.00 in a report on Friday, March 18th. Zacks Investment Research raised Cummins from a “sell” rating to a “hold” rating and set a $204.00 target price on the stock in a research report on Friday, April 15th. Finally, StockNews.com upgraded Cummins from a “hold” rating to a “buy” rating in a research note on Wednesday, May 11th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $248.30.

Several institutional investors have recently bought and sold shares of CMI. Cyrus J. Lawrence LLC purchased a new stake in Cummins during the 1st quarter worth about $25,000. Tyler Stone Wealth Management bought a new stake in shares of Cummins in the first quarter worth $25,000. Mystic Asset Management Inc. bought a new stake in Cummins during the fourth quarter valued at about $27,000. KRS Capital Management LLC purchased a new position in shares of Cummins in the fourth quarter valued at about $30,000. Finally, Steward Financial Group LLC purchased a new position in shares of Cummins in the fourth quarter valued at about $32,000. 80.50% of the stock is currently owned by institutional investors.

Cummins Company Profile (Get Rating)

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 New Power. 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 new parts and services, as well as remanufactured parts and engines.

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