Hamilton Point Investment Advisors LLC Acquires 166 Shares of Cummins Inc. (NYSE:CMI)

Hamilton Point Investment Advisors LLC grew its stake in shares of Cummins Inc. (NYSE:CMI) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,641 shares of the company’s stock after acquiring an additional 166 shares during the period. Hamilton Point Investment Advisors LLC’s holdings in Cummins were worth $6,498,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CMI. PFG Investments LLC boosted its stake in Cummins by 27.7% in the 3rd quarter. PFG Investments LLC now owns 2,238 shares of the company’s stock worth $725,000 after purchasing an additional 485 shares during the period. Mariner Investment Group LLC purchased a new stake in shares of Cummins in the fourth quarter worth about $1,046,000. CWM LLC boosted its position in shares of Cummins by 17.4% in the third quarter. CWM LLC now owns 12,069 shares of the company’s stock valued at $3,908,000 after acquiring an additional 1,786 shares during the period. Alpha DNA Investment Management LLC purchased a new position in Cummins during the third quarter valued at approximately $748,000. Finally, Franklin Resources Inc. increased its holdings in Cummins by 74.2% during the 3rd quarter. Franklin Resources Inc. now owns 233,544 shares of the company’s stock worth $79,017,000 after acquiring an additional 99,464 shares during the period. 83.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Sharon R. Barner sold 2,163 shares of Cummins stock in a transaction 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 owns 20,803 shares in the company, valued at $7,678,803.36. 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 at this link. Insiders have sold 6,490 shares of company stock valued at $2,357,880 over the last ninety days. 0.56% of the stock is owned by insiders.

Cummins Stock Performance

Shares of CMI stock opened at $359.81 on Friday. The company has a market capitalization of $49.36 billion, a P/E ratio of 23.77, a PEG ratio of 1.63 and a beta of 1.01. Cummins Inc. has a fifty-two week low of $236.00 and a fifty-two week high of $387.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32. The stock has a 50 day moving average price of $363.08 and a two-hundred day moving average price of $332.89.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The business had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the prior year, the company posted $4.73 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts expect that Cummins Inc. will post 20.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and raised their price target for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. The Goldman Sachs Group lifted their price objective on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Citigroup decreased their target price on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Truist Financial lifted their price target on Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Finally, Jefferies Financial Group upped their price objective on shares of Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Eight investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $374.25.

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.