Childress Capital Advisors LLC Decreases Holdings in Cummins Inc. (NYSE:CMI)

Childress Capital Advisors LLC lowered its stake in Cummins Inc. (NYSE:CMI) by 31.8% in the 4th quarter, HoldingsChannel reports. The fund owned 636 shares of the company’s stock after selling 297 shares during the period. Childress Capital Advisors LLC’s holdings in Cummins were worth $222,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of analysts recently weighed in on CMI shares. StockNews.com raised shares of Cummins from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Citigroup reduced their price target on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Truist Financial boosted their price objective on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Finally, Evercore ISI upgraded shares of Cummins from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $294.00 to $408.00 in a report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $374.25.

Insider Buying and Selling at Cummins

In other news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $369.12, for a total value of $798,406.56. Following the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,678,803.36. The trade was a 9.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 6,490 shares of company stock worth $2,357,880 over the last quarter. Insiders own 0.56% of the company’s stock.

Cummins Price Performance

Shares of CMI opened at $363.97 on Wednesday. The stock has a market capitalization of $49.93 billion, a PE ratio of 24.04, a PEG ratio of 1.64 and a beta of 1.00. The company has a 50 day moving average price of $362.21 and a 200-day moving average price of $334.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. Cummins Inc. has a fifty-two week low of $236.00 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. Cummins’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.14 earnings per share. Equities analysts predict that Cummins Inc. will post 20.62 earnings per share for the current fiscal year.

About Cummins

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.