Westover Capital Advisors LLC Lowers Holdings in Cummins Inc. (NYSE:CMI)

Westover Capital Advisors LLC decreased its stake in Cummins Inc. (NYSE:CMI) by 4.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,619 shares of the company’s stock after selling 208 shares during the quarter. Westover Capital Advisors LLC’s holdings in Cummins were worth $1,610,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Global Trust Asset Management LLC boosted its stake in shares of Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares during the last quarter. BankPlus Trust Department purchased a new stake in shares of Cummins in the fourth quarter worth about $26,000. Compass Financial Services Inc acquired a new position in Cummins in the 4th quarter worth about $27,000. SBI Securities Co. Ltd. acquired a new position in Cummins in the 4th quarter worth about $30,000. Finally, Prospera Private Wealth LLC acquired a new position in Cummins in the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Price Performance

NYSE:CMI opened at $355.81 on Tuesday. Cummins Inc. has a one year low of $260.88 and a one year high of $387.90. 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 stock has a market cap of $48.92 billion, a PE ratio of 12.63, a P/E/G ratio of 2.19 and a beta of 1.00. The stock has a 50 day moving average price of $362.41 and a 200 day moving average price of $345.30.

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

Cummins Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMI. Robert W. Baird upped their price target on Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. raised Cummins from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Citigroup reduced their price target on Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Evercore ISI upped their price target on Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, 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 report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $386.67.

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.