Leavell Investment Management Inc. Cuts Position in Cummins Inc. (NYSE:CMI)

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

A number of other large investors have also recently made changes to their positions in the company. Quent Capital LLC increased its stake in shares of Cummins by 5.6% during the fourth quarter. Quent Capital LLC now owns 620 shares of the company’s stock worth $216,000 after buying an additional 33 shares during the period. Stonebridge Financial Group LLC purchased a new stake in shares of Cummins during the fourth quarter worth approximately $4,453,000. Essex Financial Services Inc. increased its stake in Cummins by 4.7% in the fourth quarter. Essex Financial Services Inc. now owns 6,475 shares of the company’s stock valued at $2,257,000 after purchasing an additional 289 shares during the last quarter. Sapient Capital LLC increased its stake in Cummins by 0.3% in the fourth quarter. Sapient Capital LLC now owns 13,127 shares of the company’s stock valued at $4,576,000 after purchasing an additional 34 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. purchased a new position in Cummins in the fourth quarter valued at approximately $202,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cummins

In other Cummins news, VP Sharon R. Barner sold 2,163 shares of the firm’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 owns 20,803 shares of the company’s stock, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by corporate insiders.

Cummins Price Performance

Shares of NYSE CMI opened at $373.71 on Friday. 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 stock has a fifty day moving average price of $361.20 and a 200 day moving average price of $338.14. Cummins Inc. has a 1-year low of $259.06 and a 1-year high of $387.90. The company has a market cap of $51.38 billion, a PE ratio of 13.27, a P/E/G ratio of 2.10 and a beta of 1.00.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share 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 firm had revenue of $8.45 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same period last year, the company earned $4.14 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Sell-side analysts forecast that Cummins Inc. will post 22.57 EPS for the current year.

Cummins Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CMI shares. Barclays increased their price target on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and increased their price target for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and increased their price target for the company from $355.00 to $420.00 in a research note on Monday, December 9th. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Vertical Research lowered shares of Cummins from a “buy” rating to a “hold” rating and set a $350.00 target price on the stock. in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $383.08.

Cummins Company 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.