Westover Capital Advisors LLC Sells 208 Shares of Cummins Inc. (NYSE:CMI)

Westover Capital Advisors LLC trimmed its stake in Cummins Inc. (NYSE:CMI) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,619 shares of the company’s stock after selling 208 shares during the period. Westover Capital Advisors LLC’s holdings in Cummins were worth $1,610,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Global Trust Asset Management LLC lifted its stake in shares of Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. BankPlus Trust Department purchased a new stake in shares of Cummins in the fourth quarter worth approximately $26,000. Compass Financial Services Inc purchased a new stake in shares of Cummins in the fourth quarter worth approximately $27,000. SBI Securities Co. Ltd. purchased a new stake in shares of Cummins in the fourth quarter worth approximately $30,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Cummins in the third quarter worth approximately $32,000. 83.46% of the stock is owned by institutional investors.

Cummins Stock Down 3.4 %

Cummins stock opened at $355.81 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The business’s 50-day simple moving average is $362.41 and its two-hundred day simple moving average is $345.30. The company has a market cap of $48.92 billion, a PE ratio of 12.63, a PEG ratio of 2.19 and a beta of 1.00. Cummins Inc. has a fifty-two week low of $260.88 and a fifty-two week high of $387.90.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.14 EPS. Equities analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be paid a dividend of $1.82 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.05%. Cummins’s payout ratio is presently 25.84%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CMI shares. The Goldman Sachs Group increased their price target on Cummins from $324.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. StockNews.com downgraded Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Truist Financial raised their price objective on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Citigroup reduced their price objective on Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Evercore ISI raised their price objective on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Cummins presently has a consensus rating of “Hold” and a consensus price target of $386.67.

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.