Wealthspire Advisors LLC Has $658,000 Holdings in Cummins Inc. (NYSE:CMI)

Wealthspire Advisors LLC boosted its holdings in shares of Cummins Inc. (NYSE:CMI) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,887 shares of the company’s stock after buying an additional 108 shares during the quarter. Wealthspire Advisors LLC’s holdings in Cummins were worth $658,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CMI. Global Trust Asset Management LLC raised 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 acquiring an additional 28 shares in the last quarter. Compass Financial Services Inc acquired a new stake in shares of Cummins in the fourth quarter worth $27,000. Prospera Private Wealth LLC bought a new stake in shares of Cummins during the 3rd quarter worth $32,000. Kestra Investment Management LLC acquired a new position in Cummins in the 4th quarter valued at $43,000. Finally, Ashton Thomas Securities LLC bought a new position in Cummins in the 3rd quarter worth $55,000. 83.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CMI has been the topic of a number of recent analyst reports. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Citigroup cut 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 boosted their target price on shares of Cummins from $408.00 to $451.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Truist Financial increased their price target on shares of Cummins from $424.00 to $425.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Finally, Robert W. Baird boosted their price objective on shares of Cummins from $395.00 to $407.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $386.67.

Cummins Stock Up 0.1 %

Shares of CMI opened at $360.91 on Wednesday. Cummins Inc. has a 12 month low of $260.88 and a 12 month high of $387.90. The stock has a market cap of $49.62 billion, a price-to-earnings ratio of 12.81, a P/E/G ratio of 2.19 and a beta of 1.00. The company has a 50-day moving average price of $361.37 and a two-hundred day moving average price of $343.32. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI) last announced 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 business had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the previous year, the firm earned $4.14 EPS. Cummins’s quarterly revenue was down 1.1% on a year-over-year basis. Equities analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 21st will be given a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, February 21st. Cummins’s dividend payout ratio (DPR) is currently 25.84%.

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.