Hamilton Point Investment Advisors LLC Has $6.50 Million Stake in Cummins Inc. (NYSE:CMI)

Hamilton Point Investment Advisors LLC grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Calton & Associates Inc. grew its stake in Cummins by 9.3% during the fourth quarter. Calton & Associates Inc. now owns 1,598 shares of the company’s stock worth $557,000 after purchasing an additional 136 shares during the period. Mediolanum International Funds Ltd acquired a new stake in shares of Cummins during the 4th quarter worth approximately $441,000. Crews Bank & Trust bought a new stake in shares of Cummins in the 4th quarter valued at $418,000. Busey Bank lifted its position in shares of Cummins by 0.9% during the 4th quarter. Busey Bank now owns 73,679 shares of the company’s stock valued at $25,684,000 after acquiring an additional 634 shares during the period. Finally, Legacy Trust boosted its stake in Cummins by 1.1% during the fourth quarter. Legacy Trust now owns 19,633 shares of the company’s stock worth $6,844,000 after acquiring an additional 211 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Price Performance

Cummins stock opened at $359.81 on Friday. Cummins Inc. has a 52 week low of $236.00 and a 52 week high of $387.90. The company’s 50 day moving average price is $363.08 and its two-hundred day moving average price is $332.89. The stock has a market cap of $49.36 billion, a P/E ratio of 23.77, a P/E/G ratio of 1.63 and a beta of 1.01. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate of $4.89 by $0.97. The business had revenue of $8.46 billion for 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 was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.73 earnings per share. On average, equities analysts predict that Cummins Inc. will post 20.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CMI has been the topic of several research reports. JPMorgan Chase & Co. upgraded shares of Cummins from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $355.00 to $420.00 in a report on Monday, December 9th. 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. StockNews.com upgraded Cummins from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Jefferies Financial Group upped their target price on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Robert W. Baird lifted their price target on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $374.25.

Insider Buying and Selling at Cummins

In related news, VP Sharon R. Barner sold 2,163 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $369.12, for a total value of $798,406.56. Following the transaction, the vice president now owns 20,803 shares in the company, valued at approximately $7,678,803.36. This represents a 9.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 6,490 shares of company stock worth $2,357,880 over the last three months. 0.56% of the stock is currently owned by insiders.

Cummins Company 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.