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Cummins VP Sharon Barner sells shares worth over $708k

Published 05/13/2024, 12:45 PM

Cummins Inc . (NYSE:CMI) executive Sharon R. Barner, the company's Vice President and Chief Administrative Officer, has recently engaged in significant trading activity involving the company's stock. On May 10, 2024, Barner sold 2,390 shares of Cummins stock at an average price of $296.28, with the transaction totaling approximately $708,109. This sale was part of multiple transactions with prices ranging from $295.95 to $296.6650.

In addition to the sale, Barner also acquired the same number of shares on the same day, which indicates that these shares were acquired through the exercise of stock options. The acquisition was made at a set price of $160.10 per share, amounting to a total transaction value of $382,639.

Following these transactions, Barner's direct ownership in Cummins Inc. stands at 20,873 shares of common stock. The reported transactions reflect a balancing act of exercising options and selling the equivalent number of shares, which is a common practice among executives managing their stock-based compensation.

Investors and market watchers often keep an eye on insider transactions as they can provide insights into an executive's perspective on the company's current valuation and future prospects. However, it's important to note that such transactions do not necessarily indicate a lack of confidence in the company; they can also be part of personal financial management or estate planning.

Cummins Inc., a global power leader, specializes in engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions, and electrical power generation systems. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol CMI.

For those interested in the detailed figures of the transactions, Barner's recent sale of shares at varying prices within the specified range can be provided upon request to Cummins Inc., any security holder of Cummins Inc., or the staff of the Securities and Exchange Commission.

InvestingPro Insights

Amidst the recent insider trading activity by Cummins Inc. (NYSE:CMI) executive Sharon R. Barner, the company's financial standing and stock performance remain a key interest for investors. Based on real-time data from InvestingPro, Cummins boasts a robust market capitalization of $40.54 billion and has demonstrated a strong revenue growth of 12.85% over the last twelve months as of Q1 2024. Despite a slight quarterly revenue dip of -0.59% in Q1 2024, the company's gross profit margin holds steady at 24.29%, underscoring its ability to maintain profitability.

An InvestingPro Tip that stands out in the context of the article is Cummins' track record of raising its dividend for 18 consecutive years, with the most recent dividend yield reported at 2.25%. This consistent performance, coupled with the company's low price volatility, could be reassuring for investors following executive transactions. Additionally, the stock is trading near its 52-week high, at 97.46% of this threshold, reflecting investor confidence and a positive market sentiment.

Investors looking to delve deeper into Cummins' financials and stock performance can explore additional InvestingPro Tips, with 13 more available on the platform. For those considering a subscription, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription and gain comprehensive insights into Cummins' future profitability and industry standing as a prominent player in the Machinery industry.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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