Cummins Inc. (NYSE:CMI) Shares Sold by Westover Capital Advisors LLC

Westover Capital Advisors LLC lowered its position in Cummins Inc. (NYSE:CMI) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,752 shares of the company’s stock after selling 98 shares during the quarter. Westover Capital Advisors LLC’s holdings in Cummins were worth $1,138,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Balentine LLC boosted its holdings in shares of Cummins by 3.3% in the third quarter. Balentine LLC now owns 3,929 shares of the company’s stock valued at $898,000 after acquiring an additional 127 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Cummins by 200.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,790 shares of the company’s stock worth $1,387,000 after acquiring an additional 3,866 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC bought a new position in Cummins during the third quarter valued at approximately $9,048,000. Capital Advisors Inc. OK acquired a new stake in shares of Cummins in the fourth quarter worth about $24,915,000. Finally, SG Americas Securities LLC raised its holdings in Cummins by 227.6% in the 4th quarter. SG Americas Securities LLC now owns 24,281 shares of the company’s stock worth $5,817,000 after acquiring an additional 16,869 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Down 1.6 %

NYSE:CMI traded down $4.47 on Thursday, hitting $279.40. 1,032,627 shares of the stock were exchanged, compared to its average volume of 2,608,323. The stock has a market capitalization of $38.21 billion, a price-to-earnings ratio of 54.80, a P/E/G ratio of 1.92 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 quick ratio of 0.74 and a current ratio of 1.18. The company’s 50-day moving average price is $284.71 and its 200 day moving average price is $251.99.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 EPS for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.27). The company had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. Cummins had a net margin of 2.16% and a return on equity of 25.68%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $4.52 earnings per share. On average, equities research analysts forecast that Cummins Inc. will post 18.34 earnings per share for the current year.

Cummins Announces Dividend

The business also recently declared 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 of this dividend was Thursday, February 22nd. This represents a $6.72 dividend on an annualized basis and a dividend yield of 2.41%. Cummins’s dividend payout ratio (DPR) is presently 129.73%.

Insider Activity

In related news, Director Daniel William Fisher purchased 562 shares of the stock in a transaction dated Tuesday, February 27th. The stock was bought at an average cost of $266.57 per share, with a total value of $149,812.34. Following the purchase, the director now directly owns 1,068 shares in the company, valued at approximately $284,696.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cummins news, Director Daniel William Fisher acquired 562 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average cost of $266.57 per share, for a total transaction of $149,812.34. Following the transaction, the director now owns 1,068 shares of the company’s stock, valued at $284,696.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sharon R. Barner sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $271.29, for a total value of $569,709.00. Following the completion of the transaction, the vice president now owns 16,899 shares of the company’s stock, valued at $4,584,529.71. The disclosure for this sale can be found here. Insiders sold a total of 51,289 shares of company stock valued at $13,576,838 in the last ninety days. 0.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Truist Financial assumed coverage on shares of Cummins in a research note on Thursday, March 14th. They set a “hold” rating and a $303.00 price target on the stock. The Goldman Sachs Group boosted their target price on shares of Cummins from $270.00 to $306.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Morgan Stanley initiated coverage on shares of Cummins in a research note on Monday, January 8th. They issued an “overweight” rating and a $278.00 target price on the stock. TD Cowen upped their price target 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, TheStreet downgraded shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $279.70.

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.