Hamilton Point Investment Advisors LLC Buys 262 Shares of Cummins Inc. (NYSE:CMI)

Hamilton Point Investment Advisors LLC boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,039 shares of the company’s stock after buying an additional 262 shares during the quarter. Hamilton Point Investment Advisors LLC’s holdings in Cummins were worth $4,561,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Balentine LLC raised its holdings in shares of Cummins by 3.3% in the 3rd quarter. Balentine LLC now owns 3,929 shares of the company’s stock valued at $898,000 after purchasing an additional 127 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC bought a new stake in shares of Cummins in the 3rd quarter valued at about $9,048,000. Capital Advisors Inc. OK bought a new stake in shares of Cummins in the 4th quarter valued at about $24,915,000. SG Americas Securities LLC raised its holdings in shares of Cummins by 227.6% in the 4th quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock valued at $5,817,000 after purchasing an additional 16,869 shares in the last quarter. Finally, Eldred Rock Partners LLC bought a new stake in shares of Cummins in the 4th quarter valued at about $7,195,000. Institutional investors own 83.46% of the company’s stock.

Insider Transactions at Cummins

In other news, SVP Tony Satterthwaite sold 37,450 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total value of $9,926,122.50. Following the sale, the senior vice president now owns 73,741 shares in the company, valued at $19,545,052.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Tony Satterthwaite sold 37,450 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $265.05, for a total transaction of $9,926,122.50. Following the sale, the senior vice president now directly owns 73,741 shares of the company’s stock, valued at $19,545,052.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sharon R. Barner sold 11,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $262.16, for a total transaction of $2,883,760.00. Following the sale, the vice president now directly owns 17,874 shares in the company, valued at $4,685,847.84. The disclosure for this sale can be found here. Insiders have sold 51,289 shares of company stock worth $13,576,838 over the last 90 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 analyst reports. Truist Financial initiated coverage on shares of Cummins in a research report on Thursday, March 14th. They issued a “hold” rating and a $303.00 price objective on the stock. StockNews.com downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Evercore ISI lifted their price objective on shares of Cummins from $231.00 to $244.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. TD Cowen lifted their price objective on shares of Cummins from $260.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a research report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $276.10.

Cummins Stock Performance

NYSE:CMI traded down $2.85 during trading hours on Monday, hitting $295.78. 798,899 shares of the company were exchanged, compared to its average volume of 2,905,152. The stock has a market capitalization of $40.45 billion, a price-to-earnings ratio of 57.91, a PEG ratio of 2.03 and a beta of 1.04. Cummins Inc. has a 52-week low of $203.18 and a 52-week high of $304.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.18 and a quick ratio of 0.74. The company’s 50 day moving average price is $275.89 and its 200-day moving average price is $246.40.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The business had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.10 billion. Cummins had a return on equity of 25.68% and a net margin of 2.16%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.52 EPS. As a group, research analysts forecast that Cummins Inc. will post 18.29 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Friday, February 23rd were paid a $1.68 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.27%. Cummins’s payout ratio is currently 129.73%.

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.