849 Shares in Cummins Inc. (NYSE:CMI) Acquired by Kanawha Capital Management LLC

Kanawha Capital Management LLC acquired a new position in Cummins Inc. (NYSE:CMI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 849 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMI. Synovus Financial Corp boosted its stake in shares of Cummins by 254.4% during the 1st quarter. Synovus Financial Corp now owns 6,099 shares of the company’s stock valued at $1,242,000 after buying an additional 4,378 shares during the period. Cibc World Market Inc. boosted its stake in shares of Cummins by 65.4% during the 1st quarter. Cibc World Market Inc. now owns 18,194 shares of the company’s stock valued at $3,732,000 after buying an additional 7,191 shares during the period. Sei Investments Co. boosted its stake in shares of Cummins by 16.1% during the 1st quarter. Sei Investments Co. now owns 94,391 shares of the company’s stock valued at $19,282,000 after buying an additional 13,058 shares during the period. Prudential PLC acquired a new stake in shares of Cummins during the 1st quarter valued at $711,000. Finally, Cetera Investment Advisers boosted its stake in shares of Cummins by 43.0% during the 1st quarter. Cetera Investment Advisers now owns 6,403 shares of the company’s stock valued at $1,313,000 after buying an additional 1,925 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CMI shares. StockNews.com lowered shares of Cummins from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Citigroup lifted their price objective on shares of Cummins from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. lifted their price objective on shares of Cummins from $245.00 to $275.00 and gave the company an “underweight” rating in a research note on Monday, March 25th. Morgan Stanley started coverage on shares of Cummins in a research note on Monday, January 8th. They issued an “overweight” rating and a $278.00 price objective for the company. Finally, TD Cowen lifted their price objective on shares of Cummins from $260.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cummins has a consensus rating of “Hold” and a consensus target price of $271.64.

Insider Transactions at Cummins

In other news, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the transaction, the vice president now owns 17,874 shares in the company, valued at approximately $4,685,847.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Sharon R. Barner sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the transaction, the vice president now owns 17,874 shares in the company, valued at approximately $4,685,847.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel William Fisher bought 562 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the purchase, the director now owns 1,068 shares of the company’s stock, valued at $284,696.76. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 51,289 shares of company stock worth $13,576,838. 1.12% of the stock is currently owned by company insiders.

Cummins Stock Performance

CMI traded down $2.15 during trading on Friday, hitting $300.71. The stock had a trading volume of 280,006 shares, compared to its average volume of 2,925,804. The firm has a market cap of $41.13 billion, a PE ratio of 58.47, a P/E/G ratio of 2.06 and a beta of 1.04. Cummins Inc. has a 12 month low of $203.18 and a 12 month high of $304.24. The company has a current ratio of 1.18, a quick ratio of 0.74 and a debt-to-equity ratio of 0.48. The company has a 50 day simple moving average of $274.81 and a 200-day simple moving average of $245.70.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a return on equity of 25.68% and a net margin of 2.16%. The firm had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. During the same quarter last year, the business earned $4.52 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. Analysts expect that Cummins Inc. will post 18.29 EPS for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were issued a dividend of $1.68 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $6.72 annualized dividend and a dividend yield of 2.23%. Cummins’s payout ratio is 129.73%.

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.