City Holding Co. Has $5.94 Million Stock Holdings in Cummins Inc. (NYSE:CMI)

City Holding Co. raised its stake in shares of Cummins Inc. (NYSE:CMI) by 0.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,039 shares of the company’s stock after purchasing an additional 159 shares during the period. City Holding Co.’s holdings in Cummins were worth $5,940,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CMI. Kaydan Wealth Management Inc. purchased a new stake in shares of Cummins during the 4th quarter worth about $207,000. Brady Martz Wealth Solutions LLC bought a new position in Cummins during the fourth quarter valued at approximately $372,000. Renaissance Investment Group LLC acquired a new stake in Cummins in the fourth quarter valued at approximately $200,000. Artemis Investment Management LLP bought a new stake in Cummins in the fourth quarter worth approximately $2,268,000. Finally, J2 Capital Management Inc acquired a new position in shares of Cummins during the 4th quarter worth $654,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Cummins Trading Down 0.1 %

Shares of NYSE CMI opened at $365.98 on Monday. Cummins Inc. has a 1-year low of $226.52 and a 1-year high of $387.90. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $363.33 and a two-hundred day moving average of $327.80. The company has a market cap of $50.21 billion, a PE ratio of 24.17, a P/E/G ratio of 1.61 and a beta of 1.01.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.89 by $0.97. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm earned $4.73 EPS. As a group, equities analysts expect that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the 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 sale, the vice president now directly owns 20,803 shares in the company, valued at $7,678,803.36. This trade represents a 9.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 6,489 shares of company stock worth $2,357,531. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Citigroup decreased their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Jefferies Financial Group upped their price objective on shares of Cummins from $410.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $294.00 to $408.00 in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $374.25.

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.