Cummins Increases Quarterly Common Stock Dividend From $1.68 To $1.82 Per Share

7/9/24 4:21:31 PM ET

Industrial Machinery/Components

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The Board of Directors of Cummins Inc. (NYSE:CMI) today approved an increase in the company's quarterly common stock cash dividend of approximately 8.3% from 1.68 dollars per share to 1.82 dollars per share. The dividend is payable on September 5, 2024, to shareholders of record on August 23, 2024. Cummins has increased the quarterly common stock dividend to shareholders for 15 consecutive years.

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Recent Analyst Ratings for
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Date	Price Target	Rating	Analyst
11/13/2024	$294.00 → $408.00	In-line → Outperform	Evercore ISI
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6/28/2024		Mkt Perform	Raymond James
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3/15/2024		Neutral → Buy	UBS
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Third quarter revenues of $8.5 billion; GAAP1 Net Income of $809 million, or 9.6% of sales EBITDA in the third quarter was 16.4% of sales; Diluted EPS of $5.86 The company is maintaining its full year 2024 revenue guidance of down 3% to flat. EBITDA is now expected to be approximately 15.5% compared to previous guidance of 15.0% to 15.5%. Cummins Inc. (NYSE:CMI) today reported results for the third quarter of 2024. "We achieved strong sales and profitability in the third quarter, led by improvement in our Power Systems and Distribution businesses, and have adjusted our full year projection for EBITDA percentage to be at the top end of the prior range," said Jennifer Rumsey, Chair
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Cummins Inc. Declares Quarterly Common Stock Dividend
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Cummins Increases Quarterly Common Stock Dividend From $1.68 To $1.82 Per Share

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$CMI Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

VP - Chief Administrative Off. Barner Sharon R exercised 2,163 units of Common at a strike of $163.43 and sold $798,403 worth of Common (2,163 units at $369.12) (SEC Form 4)

EVP and President, Operations Padmanabhan Srikanth covered exercise/tax liability with 6,570 units of Common and exercised 9,560 units of Common at a strike of $160.10, increasing direct ownership by 10% to 33,111 units (SEC Form 4)

VP - Chief Administrative Off. Barner Sharon R exercised 2,163 units of Common at a strike of $163.43 and sold $784,071 worth of Common (2,163 units at $362.49) (SEC Form 4)

$CMI Insider Purchases

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Wiltrout Jeffrey T bought $80,401 worth of Common (282 units at $285.11), increasing direct ownership by 29% to 1,262 units (SEC Form 4)

Boakye Marvin bought $499,133 worth of Common (1,745 units at $286.04) (SEC Form 4)

Fisher Daniel William bought $149,810 worth of Common (562 units at $266.57), increasing direct ownership by 111% to 1,068 units (SEC Form 4)

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