Alexis M. Herman Sells 775 Shares of Cummins Inc. (CMI) Stock

Cummins Inc. (NYSE:CMI) Director Alexis M. Herman sold 775 shares of the stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $143.64, for a total value of $111,321.00. Following the completion of the transaction, the director now owns 30,069 shares in the company, valued at approximately $4,319,111.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of CMI stock opened at $146.73 on Thursday. Cummins Inc. has a 12 month low of $124.72 and a 12 month high of $194.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 1.54. The company has a market cap of $23.30 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 0.79 and a beta of 1.16.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, October 30th. The company reported $4.05 EPS for the quarter, beating the consensus estimate of $3.76 by $0.29. Cummins had a return on equity of 29.17% and a net margin of 5.57%. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.96 billion. During the same quarter last year, the company posted $2.71 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Cummins Inc. will post 15.34 earnings per share for the current fiscal year.

Cummins declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 9th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 8.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 15th will be issued a dividend of $1.14 per share. The ex-dividend date is Wednesday, November 14th. This represents a $4.56 annualized dividend and a yield of 3.11%. Cummins’s dividend payout ratio (DPR) is presently 42.94%.

A number of hedge funds have recently made changes to their positions in CMI. Acropolis Investment Management LLC boosted its position in shares of Cummins by 6.9% in the third quarter. Acropolis Investment Management LLC now owns 5,302 shares of the company’s stock valued at $774,000 after acquiring an additional 340 shares during the period. Security National Bank of SO Dak boosted its position in shares of Cummins by 7.2% in the second quarter. Security National Bank of SO Dak now owns 5,372 shares of the company’s stock valued at $714,000 after acquiring an additional 360 shares during the period. BRYN MAWR TRUST Co boosted its position in shares of Cummins by 4.1% in the second quarter. BRYN MAWR TRUST Co now owns 9,410 shares of the company’s stock valued at $1,252,000 after acquiring an additional 369 shares during the period. Commerce Bank boosted its position in shares of Cummins by 2.4% in the third quarter. Commerce Bank now owns 16,408 shares of the company’s stock valued at $2,397,000 after acquiring an additional 385 shares during the period. Finally, Essex Financial Services Inc. boosted its position in shares of Cummins by 10.0% in the second quarter. Essex Financial Services Inc. now owns 4,332 shares of the company’s stock valued at $576,000 after acquiring an additional 395 shares during the period. Institutional investors own 79.79% of the company’s stock.

A number of equities analysts recently commented on the company. Stifel Nicolaus increased their price objective on Cummins from $160.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Piper Jaffray Companies upgraded Cummins from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $143.00 to $188.00 in a report on Thursday, October 4th. Zacks Investment Research downgraded Cummins from a “buy” rating to a “hold” rating in a report on Monday, August 27th. Oppenheimer dropped their price objective on Cummins from $168.00 to $192.00 and set an “outperform” rating on the stock in a report on Monday, July 23rd. Finally, JPMorgan Chase & Co. upgraded Cummins from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $137.00 to $147.00 in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $163.30.

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Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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