Fort Washington Investment Advisors Inc. OH Sells 34 Shares of Cummins Inc. (NYSE:CMI)

Fort Washington Investment Advisors Inc. OH lowered its stake in Cummins Inc. (NYSE:CMI) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 753 shares of the company’s stock after selling 34 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Cummins were worth $262,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Atomi Financial Group Inc. grew its position in Cummins by 29.4% in the fourth quarter. Atomi Financial Group Inc. now owns 1,731 shares of the company’s stock valued at $603,000 after acquiring an additional 393 shares during the last quarter. Transform Wealth LLC grew its position in Cummins by 6.4% in the fourth quarter. Transform Wealth LLC now owns 38,284 shares of the company’s stock valued at $13,346,000 after acquiring an additional 2,289 shares during the last quarter. Perpetual Ltd grew its position in Cummins by 88.5% in the fourth quarter. Perpetual Ltd now owns 2,130 shares of the company’s stock valued at $743,000 after acquiring an additional 1,000 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Cummins by 26.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 10,167 shares of the company’s stock valued at $3,544,000 after acquiring an additional 2,147 shares during the last quarter. Finally, Ballentine Partners LLC grew its position in Cummins by 5.3% in the fourth quarter. Ballentine Partners LLC now owns 2,506 shares of the company’s stock valued at $874,000 after acquiring an additional 127 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Activity

In other news, VP Sharon R. Barner sold 2,163 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $362.49, for a total transaction of $784,065.87. Following the completion of the sale, the vice president now owns 20,803 shares in the company, valued at $7,540,879.47. The trade was a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 6,489 shares of company stock worth $2,357,531 over the last quarter. 0.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CMI has been the topic of a number of recent analyst reports. Bank of America upgraded Cummins from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. Robert W. Baird lifted their price target on Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $355.00 to $420.00 in a research note on Monday, December 9th. Truist Financial lifted their price target on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $374.25.

Cummins Price Performance

Cummins stock opened at $369.32 on Friday. Cummins Inc. has a one year low of $234.49 and a one year high of $387.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 0.79. The stock’s 50 day moving average is $363.72 and its 200 day moving average is $329.82. The firm has a market cap of $50.66 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.69 and a beta of 1.01.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.73 earnings per share. As a group, research analysts expect that Cummins Inc. will post 21.92 EPS for the current 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.