Cummins Inc. (NYSE:CMI – Get Free Report) declared a quarterly dividend on Tuesday, May 14th, RTT News reports. Investors of record on Friday, May 24th will be given a dividend of 1.68 per share on Thursday, June 6th. This represents a $6.72 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, May 23rd.
Cummins has increased its dividend by an average of 7.2% per year over the last three years and has raised its dividend annually for the last 18 consecutive years. Cummins has a payout ratio of 31.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cummins to earn $22.02 per share next year, which means the company should continue to be able to cover its $6.72 annual dividend with an expected future payout ratio of 30.5%.
Cummins Trading Up 0.0 %
NYSE CMI opened at $286.01 on Wednesday. Cummins has a one year low of $203.18 and a one year high of $304.24. The company’s 50 day moving average price is $290.22 and its 200 day moving average price is $258.92. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.34. The firm has a market capitalization of $39.12 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.80 and a beta of 1.04.
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on Cummins
Insider Buying and Selling at Cummins
In other news, VP Sharon R. Barner sold 3,880 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total value of $1,113,016.80. Following the transaction, the vice president now owns 20,873 shares in the company, valued at approximately $5,987,628.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Sharon R. Barner sold 3,880 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $286.86, for a total value of $1,113,016.80. Following the transaction, the vice president now owns 20,873 shares in the company, valued at $5,987,628.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Marvin Boakye acquired 1,745 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was purchased at an average price of $286.04 per share, for a total transaction of $499,139.80. Following the acquisition, the vice president now directly owns 1,745 shares of the company’s stock, valued at approximately $499,139.80. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.
About Cummins
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.
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