Dover Advisors LLC Sells 35 Shares of Cummins Inc. (NYSE:CMI)

Dover Advisors LLC trimmed its holdings in Cummins Inc. (NYSE:CMI) by 3.2% in the fourth quarter, Holdings Channel reports. The fund owned 1,050 shares of the company’s stock after selling 35 shares during the period. Dover Advisors LLC’s holdings in Cummins were worth $366,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Colonial River Investments LLC increased its stake in Cummins by 6.9% during the 4th quarter. Colonial River Investments LLC now owns 1,974 shares of the company’s stock worth $688,000 after purchasing an additional 127 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Cummins in the fourth quarter valued at approximately $2,533,000. Black Diamond Financial LLC bought a new stake in shares of Cummins during the fourth quarter worth $237,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Cummins during the fourth quarter worth $6,284,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Cummins by 4.2% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 39,370 shares of the company’s stock valued at $13,724,000 after acquiring an additional 1,600 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

Cummins Price Performance

Shares of CMI opened at $366.79 on Monday. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $361.51 and its 200 day simple moving average is $342.40. Cummins Inc. has a 1-year low of $259.06 and a 1-year high of $387.90. The company has a market cap of $50.43 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 2.19 and a beta of 1.00.

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

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 21st will be paid a $1.82 dividend. The ex-dividend date is Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 1.98%. Cummins’s dividend payout ratio is 25.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CMI shares. Truist Financial increased their target price on Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Jefferies Financial Group increased their price objective on Cummins from $410.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, December 6th. The Goldman Sachs Group boosted their target price on Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Citigroup decreased their price target on shares of Cummins from $435.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $354.00 to $358.00 in a research report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Cummins currently 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.