Cummins Inc. (NYSE: CMI) VP Tracy A. Embree has sold 462 Cummins shares in a transaction dated Monday, August 6. The shares were sold at an average price of $ 141.70 for a total value of $ 65,465.40. After the completion of the transaction, the vice-president now holds 4,122 shares of the company's shares, valued at $ 584,087.40. The sale was announced in a legal application to the SEC, which is accessible through this link.
Shares of Cummins shares exchanged $ 0.24 Friday and raised $ 141.80. 1,285,860 shares of the company were exchanged, compared with the average volume of 1,225,737. The share has a market capitalization of $ 23.71 billion, a P / E ratio of 13.35, a P / E / G ratio of 0.83 and a beta of 1.11. Cummins Inc. has a 1-year low of $ 129.90 and a 1-year high of $ 194.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.61 and a quick ratio of 1.03.
Cummins (NYSE: CMI) has most recently published its results on Tuesday 31 July. The company reported $ 3.32 earnings per share for the quarter, with the $ Thomson Reuters consensus estimate of $ 3.63 with ($ 0.31) being missed. The company had revenues of $ 6.13 billion for the quarter compared with analyst estimates of $ 5.81 billion. Cummins had a return on equity of 26.30% and a net margin of 4.67%. The company's revenue for the quarter increased by 20.8% on an annual basis. During the same quarter of the previous year, the company earned $ 2.53 earnings per share. Research analysts expect Cummins Inc. to 14.94 EPS will publish for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid out on Tuesday, September 4. Shareholders on Wednesday, August 22, will receive a dividend of $ 1.14 per share. This is a boost from Cummins's previous quarterly dividend of $ 1.08. This represents a $ 4.56 dividend on an annual basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Tuesday 21 August. The payout ratio of Cummins is currently 42.94%.
Several institutional investors have recently changed their participations in the company. Sowell Financial Services LLC raised its participations in Cummins by 16.8% in the first quarter. Sowell Financial Services LLC now owns 2,395 shares of the company's shares with a value of $ 350,000, following the acquisition of 344 additional shares in the last quarter. Stratos Wealth Partners LTD. its participations in Cummins were reduced by 6.3% in the first quarter. Stratos Wealth Partners LTD. now owns 6,082 shares of the company's shares with a value of $ 986,000 after acquiring additional 359 shares during the last quarter. South Street Advisors LLC reduced its holdings in Cummins by 0.6% in the first quarter. South Street Advisors LLC now owns 59,366 shares of the company's shares with a value of $ 9,622,000 after acquiring another 360 shares in the last quarter. Security The National Bank of SO Dak increased its participations in Cummins by 7.2% in the second quarter. Security The National Bank of SO Dak now holds 5,372 shares of the company's shares worth $ 714,000 after acquiring an additional 360 shares during the last quarter. Finally, BRYN MAWR TRUST Co increased its participations in Cummins by 4.1% in the second quarter. BRYN MAWR TRUST Co now owns 9,410 shares of the company's shares worth $ 1,252,000 after acquiring another 369 shares in the last quarter. Institutional investors and hedge funds hold 79.42% of the company's shares.
Several stock analysts recently weighed on the company. Argus lowered its price target on Cummins to $ 175.00 and set a "buy" rating for the company on Friday 11 May in a research note. They noted that the move was a valuation call. Morgan Stanley set a price target of $ 165.00 on Cummins and gave the shares a "hold" rating in a report on Monday, May 7. Zacks Investment Research has Cummins from a & # 39; hold & # 39; credit to a & # 39; buy & # 39; credit was upgraded and a price target of $ 161.00 on the shares was set in a report on Tuesday. Citigroup lowered its price target for Cummins from $ 175.00 to $ 160.00 and placed a "neutral" rating on the shares on Friday, May 4. Finally, Stifel Nicolaus raised their price target on Cummins from $ 160.00 to $ 172.00 and gave the shares a "buy" rating in a report on Wednesday, August 1. Four investment analysts have rated the shares with a sell rating, sixteen have given a hold rating and six have assigned a buy-rating to the shares of the company. The stock currently has a consensus rating of "Hold" and an average price target of $ 165.86.
Cummins Inc designs, manufactures, distributes and maintains diesel and natural gas engines and engine-related component products worldwide. It works in four segments: Motor, Distribution, Components and Power Systems segments. The motor segment produces and sells a range of diesel and natural gas engines under the Cummins and other customer brands for heavy and medium-heavy trucks, buses, recreational vehicles, light automotive structures, construction, mining, shipping, railways, oil and gas markets, defense and agriculture.
See also: Should you buy a closed-end investment fund?
Get news and ratings for Cummins Daily – Enter your email address below to receive a concise, daily summary of the latest news and analyst ratings for Cummins and related companies with the FREE daily email newsletter from MarketBeat.com.