The company is now up from yesterday’s close of $164.77. Shares last traded at $165.57 which is just a bit higher than the 50 day moving average of $158.15 and which is just over the 200 day moving average of $150.20. The 50 day moving average was up $7.75 and the 200 day average went up $15.70 or +10.45%.
There has been some selling insider activity on Cummins Inc. (NYSE:CMI) recently. President & COO Richard Joseph Freeland sold 22,550 shares at an average price of $165.00 on Thu the 6th. That brings Freeland’s holdings to $1,011,615 as reported to the SEC. Tony Satterthwaite, President – Distribution let go of $658,000 worth of shares at an average price of $164.50 on Thu the 6th. Satterthwaite now owns $6,234,879 of stock per an SEC filing yesterday.
Anant Talaulicar, VP & Ch. – Cummins India ABO disclosed the sale of 1,650 shares of CMI stock. The shares were purchased at an average price of $157.50. The VP & Ch. – Cummins India ABO now owns $2,052,068 of the stock per the Form 4 SEC filing.
Cummins Inc., launched on February 3, 1919, designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products, including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems and electric power generation systems. The Business’s segments include Engine, Distribution, Components and Power Systems. The Company sells its products to original equipment manufacturers (OEMs), distributors and other customers around the world. As of December 31, 2016, the Company served its customers through a network of approximately 600 distributor locations and over 7,400 dealer locations in over 190 countries and territories..
Here are some other firms who have updated their holdings. As of quarter end Gateway Investment Advisers LLC had sold 7,420 shares trimming its position 4.3%. The value of the investment in CMI went from $26,094,000 to $26,792,000 a change of 2.7% since the last quarter. As of the end of the quarter Cornerstone Investment Partners, LLC had disposed of a total of 508 shares trimming its holdings by 2.5%. The value in dollars increased from $3,059,000 to $3,199,000 a change of $140,000 quarter to quarter.
As of the end of the quarter Clinton Group Inc had disposed of 53,705 shares trimming its stake by 92.5%. The value of the investment in Cummins Inc. went from $7,934,000 to $656,000 decreasing 91.7% quarter over quarter. As of quarter end Capital Investment Advisors, LLC had disposed of a total of 2,441 shares trimming its holdings by 7.1%. The value of the company’s investment in Cummins Inc. went from $5,182,000 to $5,164,000 a change of $18,000 for the reporting period.
On December 1, 2016 the stock rating was changed to a “Outperform” by CLSA down from the previous “Buy” rating. On November 7 the company was rated “Buy” according to a Evercore ISI Group report a boost from the previous “” rating.
On October 12 Deutsche Bank maintained a company rating of “Sell” and raised the price expectation from $111.00 to $112.00. October 12 investment analysts at Barclays left the stock rating at “Buy” and moved up the price target to $162.00 from $88.00.
Goldman Sachs both upgraded the stock and raised the price target on October 11 changing the price target from $155.00 to $162.00 and altering the rating from “Neutral” to “Buy”. On October 11 the stock rating was upgraded from “Neutral” to “Buy” and a price target of $162.00 was set in an announcement from Goldman Sachs.
The company also announced a dividend for shareholders paid on Thursday June 1st, 2017. The dividend payment was $1.025 per share for the quarter or $4.10 annualized. This dividend amount was represent a yeild of $2.49. The ex-dividend date was set for Wednesday the 17th of May 2017.
Cummins Inc. currently has a P/E ratio of 19.02 and market cap is 27.76B. In the last earnings report the EPS was $8.72 and is projected to be $7.98 for the current year with 167,300,000 shares now outstanding. Next quarter’s EPS is forecasted at $2.19 and the next full year EPS is anticipated to be $10.47.