Cummins Inc. $CMI is Hamlin Capital Management LLC’s 2nd Largest Position

Hamlin Capital Management LLC lowered its position in Cummins Inc. (NYSE:CMI) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 474,865 shares of the company’s stock after selling 48,311 shares during the quarter. Cummins makes up about 5.8% of Hamlin Capital Management LLC’s portfolio, making the stock its 2nd biggest position. Hamlin Capital Management LLC owned approximately 0.34% of Cummins worth $242,395,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CMI. Norges Bank purchased a new stake in shares of Cummins in the 2nd quarter worth $505,941,000. Boston Partners purchased a new position in shares of Cummins during the third quarter valued at $473,471,000. London Co. of Virginia bought a new stake in shares of Cummins in the third quarter valued at about $231,732,000. American Century Companies Inc. lifted its stake in Cummins by 138.8% in the second quarter. American Century Companies Inc. now owns 909,653 shares of the company’s stock worth $297,912,000 after acquiring an additional 528,689 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Cummins by 50.8% in the third quarter. Bank of New York Mellon Corp now owns 1,450,659 shares of the company’s stock worth $612,715,000 after acquiring an additional 488,430 shares during the period. 83.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Cummins

In other news, VP Donald G. Jackson sold 1,600 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total transaction of $960,208.00. Following the completion of the sale, the vice president owned 7,214 shares in the company, valued at approximately $4,329,337.82. This represents a 18.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy Rochelle Davis sold 4,054 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $561.34, for a total value of $2,275,672.36. Following the completion of the sale, the vice president directly owned 15,807 shares of the company’s stock, valued at $8,873,101.38. The trade was a 20.41% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 31,195 shares of company stock valued at $18,397,489. Corporate insiders own 0.41% of the company’s stock.

Cummins Stock Performance

CMI stock opened at $532.73 on Friday. Cummins Inc. has a one year low of $260.02 and a one year high of $617.98. The firm has a market cap of $73.60 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.69 and a beta of 1.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76. The firm has a 50-day simple moving average of $573.85 and a two-hundred day simple moving average of $500.87.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.17 by $0.64. The firm had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.16 EPS. On average, equities analysts forecast that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, February 20th. Cummins’s payout ratio is currently 38.99%.

Analyst Ratings Changes

CMI has been the topic of a number of research reports. UBS Group set a $565.00 target price on shares of Cummins and gave the company a “neutral” rating in a research report on Friday, February 6th. Wall Street Zen cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Sanford C. Bernstein set a $600.00 price objective on shares of Cummins and gave the company a “market perform” rating in a research note on Friday, February 6th. Robert W. Baird set a $580.00 price objective on shares of Cummins in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. upped their target price on Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $588.93.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.