Vise Technologies Inc. Has $4.49 Million Stake in Cummins Inc. $CMI

Vise Technologies Inc. grew its holdings in Cummins Inc. (NYSE:CMI) by 27.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,795 shares of the company’s stock after buying an additional 1,914 shares during the period. Vise Technologies Inc.’s holdings in Cummins were worth $4,489,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Cummins by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock valued at $9,058,841,000 after purchasing an additional 98,544 shares during the period. Geode Capital Management LLC increased its holdings in Cummins by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock worth $1,822,534,000 after buying an additional 35,286 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Cummins by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock worth $1,741,004,000 after buying an additional 43,722 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Cummins by 10,317.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock worth $1,254,929,000 after buying an additional 2,434,876 shares during the last quarter. Finally, Norges Bank acquired a new position in Cummins in the fourth quarter worth approximately $863,441,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity

In other Cummins news, VP Nathan R. Stoner sold 607 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $694.06, for a total transaction of $421,294.42. Following the completion of the sale, the vice president owned 9,447 shares of the company’s stock, valued at $6,556,784.82. This represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bonnie J. Fetch sold 652 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $700.19, for a total value of $456,523.88. Following the sale, the executive vice president directly owned 11,679 shares of the company’s stock, valued at $8,177,519.01. The trade was a 5.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 13,579 shares of company stock valued at $9,377,684. Insiders own 0.30% of the company’s stock.

Cummins Stock Down 3.9%

Shares of Cummins stock opened at $651.38 on Friday. The stock has a market capitalization of $89.88 billion, a P/E ratio of 33.80, a PEG ratio of 1.66 and a beta of 1.23. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average price of $635.72 and a two-hundred day moving average price of $576.59. Cummins Inc. has a 12-month low of $307.90 and a 12-month high of $718.08.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.96 earnings per share. Equities analysts expect that Cummins Inc. will post 29.29 earnings per share for the current year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $8.00 dividend on an annualized basis and a yield of 1.2%. Cummins’s dividend payout ratio is presently 41.52%.

Analysts Set New Price Targets

CMI has been the topic of a number of research reports. Evercore restated an “outperform” rating and issued a $845.00 price objective on shares of Cummins in a report on Monday, May 11th. Robert W. Baird set a $700.00 price objective on Cummins in a report on Wednesday, May 6th. Argus increased their price objective on Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Barclays increased their price objective on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Citigroup increased their price objective on Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $705.79.

Key Cummins News

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Zacks Research lifted its earnings estimates for Cummins across several upcoming quarters and full years, including FY2027 and FY2028, reinforcing a more bullish profit outlook.
• Positive Sentiment: The analyst firm maintained a Strong-Buy rating, suggesting confidence that Cummins can continue outperforming expectations.
• Positive Sentiment: Recent commentary on Cummins’ raised revenue guidance adds to the case that business trends remain favorable. Why Is Cummins Raising Revenue Guidance Amid NYSE Composite Focus?
• Neutral Sentiment: A separate note questioned whether the stock can rebound after its last earnings report, but it did not introduce new fundamental concerns. Cummins (CMI) Down 4.7% Since Last Earnings Report: Can It Rebound?

About Cummins

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.