GHP Investment Advisors Inc. Has $6.33 Million Holdings in Cummins Inc. (NYSE:CMI)

GHP Investment Advisors Inc. increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 1.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 18,151 shares of the company’s stock after acquiring an additional 303 shares during the period. GHP Investment Advisors Inc.’s holdings in Cummins were worth $6,328,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CMI. NovaPoint Capital LLC increased its position in shares of Cummins by 2.3% during the 4th quarter. NovaPoint Capital LLC now owns 12,098 shares of the company’s stock worth $4,217,000 after purchasing an additional 272 shares during the last quarter. Robertson Stephens Wealth Management LLC bought a new position in shares of Cummins in the fourth quarter valued at $316,000. Choreo LLC increased its holdings in Cummins by 50.3% during the fourth quarter. Choreo LLC now owns 10,268 shares of the company’s stock worth $3,578,000 after buying an additional 3,438 shares during the last quarter. Massachusetts Wealth Management lifted its stake in Cummins by 0.6% in the fourth quarter. Massachusetts Wealth Management now owns 4,812 shares of the company’s stock valued at $1,677,000 after acquiring an additional 30 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cummins by 54.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,051 shares of the company’s stock valued at $6,320,000 after acquiring an additional 6,350 shares during the period. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 0.2 %

Shares of NYSE:CMI opened at $369.22 on Friday. The business’s 50 day simple moving average is $361.92 and its 200 day simple moving average is $334.98. Cummins Inc. has a 1 year low of $247.23 and a 1 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 company has a market capitalization of $50.65 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.64 and a beta of 1.00.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter last year, the business earned $4.14 earnings per share. Cummins’s revenue was down 1.1% on a year-over-year basis. On average, research analysts anticipate that Cummins Inc. will post 20.62 EPS 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 transaction of $798,406.56. Following the sale, the vice president now owns 20,803 shares in the company, valued at approximately $7,678,803.36. This trade represents a 9.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 6,328 shares of company stock valued at $2,300,040 in the last ninety days. 0.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CMI has been the topic of a number of research analyst reports. Evercore ISI raised shares of Cummins from an “in-line” rating to an “outperform” rating and upped their target price for the company from $294.00 to $408.00 in a report on Wednesday, November 13th. Bank of America raised Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $354.00 to $358.00 in a research report on Tuesday, January 14th. The Goldman Sachs Group increased their price target on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $355.00 to $420.00 in a research report on Monday, December 9th. Finally, Truist Financial increased their price objective on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cummins has an average rating of “Hold” and a consensus price target of $383.08.

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.