Kanawha Capital Management LLC Sells 100 Shares of Cummins Inc. (NYSE:CMI)

Kanawha Capital Management LLC lowered its stake in shares of Cummins Inc. (NYSE:CMI) by 12.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 730 shares of the company’s stock after selling 100 shares during the period. Kanawha Capital Management LLC’s holdings in Cummins were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Cummins by 2.1% during the third quarter. State Street Corp now owns 6,300,051 shares of the company’s stock worth $2,039,894,000 after buying an additional 126,703 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Cummins by 5.8% during the third quarter. Fisher Asset Management LLC now owns 3,005,570 shares of the company’s stock worth $973,174,000 after buying an additional 165,398 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Cummins by 31,489.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,531,869 shares of the company’s stock valued at $819,794,000 after purchasing an additional 2,523,854 shares in the last quarter. FMR LLC lifted its holdings in shares of Cummins by 0.8% during the 3rd quarter. FMR LLC now owns 1,175,096 shares of the company’s stock valued at $380,484,000 after purchasing an additional 9,245 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Cummins by 38,765.8% during the 3rd quarter. International Assets Investment Management LLC now owns 974,755 shares of the company’s stock valued at $315,616,000 after purchasing an additional 972,247 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CMI shares. Evercore ISI upgraded Cummins from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Truist Financial lifted their target price on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Jefferies Financial Group lifted their target price on Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Robert W. Baird lifted their target price on Cummins from $395.00 to $407.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $383.08.

Insider Activity at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the completion of the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,678,803.36. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Cummins Stock Performance

Shares of NYSE CMI opened at $373.71 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 12 month low of $259.06 and a 12 month high of $387.90. The stock has a 50 day moving average of $361.20 and a 200-day moving average of $338.14. The company has a market capitalization of $51.38 billion, a P/E ratio of 13.27, a P/E/G ratio of 2.10 and a beta of 1.00.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the previous year, the company posted $4.14 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities research analysts predict that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be paid a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 1.95%. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

Cummins Profile

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.