Mark Andrew Smith, Vice President and Chief Financial Officer of Cummins Inc . (NYSE:CMI), a $51 billion market cap machinery company with a perfect InvestingPro Piotroski Score of 9, recently executed a series of stock transactions involving the company's common shares. On February 10, Smith sold 11,430 shares for a total of approximately $4.28 million. The shares were sold at prices ranging from $373.6361 to $375.683 per share. The stock, which has gained over 50% in the past year and trades at a P/E of 13, currently appears slightly undervalued according to InvestingPro's Fair Value analysis.
In addition to these sales, Smith exercised stock options to acquire 11,430 shares at prices between $114.13 and $160.1 per share. Following these transactions, Smith's direct ownership in Cummins stands at 26,122 shares. The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission. With a "GOOD" overall financial health score and 10 additional InvestingPro Tips available, investors can access comprehensive analysis through the Pro Research Report.
In other recent news, Cummins Inc. has acquired key assets from First Mode, a company specializing in retrofit hybrid solutions for mining and rail operations. The acquisition is part of Cummins' broader commitment to environmental sustainability, advancing decarbonization efforts within the industry. This development follows Cummins' recent financial performance, with the company reporting earnings of approximately $735 million on sales of $34.1 billion in 2023.
In addition, Truist Securities has adjusted Cummins' stock price target to $420 from $425, while Barclays (LON:BARC) and CFRA have increased their price targets to $381 and $385, respectively. These adjustments come after Cummins exceeded Wall Street's earnings per share (EPS) expectations in the fourth quarter and provided fiscal year 2025 guidance.
Lastly, Cummins has announced a reorganization related to its Accelera initiative, focusing on the adoption of greener technologies. The company aims to reach breakeven by 2027, aligning with the longer-than-expected adoption rate of these technologies. These are among the recent developments involving Cummins.
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