Cummins Inc. (NYSE:CMI) Shares Sold by Leavell Investment Management Inc.

Leavell Investment Management Inc. lowered its position in Cummins Inc. (NYSE:CMI) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 644 shares of the company’s stock after selling 41 shares during the quarter. Leavell Investment Management Inc.’s holdings in Cummins were worth $225,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CMI. Global Trust Asset Management LLC increased its position in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after buying an additional 28 shares in the last quarter. Compass Financial Services Inc purchased a new position in shares of Cummins in the fourth quarter valued at $27,000. Prospera Private Wealth LLC purchased a new position in shares of Cummins in the third quarter valued at $32,000. Ashton Thomas Securities LLC purchased a new position in shares of Cummins in the third quarter valued at $55,000. Finally, Friedenthal Financial purchased a new position in shares of Cummins in the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. StockNews.com cut Cummins from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Jefferies Financial Group lifted their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Truist Financial lifted their price objective on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their price objective on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird lifted their price objective on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus target price of $383.08.

Cummins Stock Performance

NYSE CMI opened at $373.71 on Friday. The firm 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 Inc. has a 1-year low of $259.06 and a 1-year high of $387.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.79. The business’s 50-day simple moving average is $361.20 and its 200-day simple moving average is $338.14.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.14 EPS. Equities analysts predict that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, February 21st. 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.