Cummins Inc. $CMI Stock Position Lessened by ING Groep NV

ING Groep NV lowered its position in shares of Cummins Inc. (NYSE:CMI) by 42.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,839 shares of the company’s stock after selling 13,973 shares during the quarter. ING Groep NV’s holdings in Cummins were worth $9,616,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CMI. Thompson Investment Management Inc. bought a new position in Cummins during the fourth quarter valued at about $26,000. Activest Wealth Management boosted its stake in Cummins by 537.5% during the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after buying an additional 43 shares in the last quarter. Wellington Shields Capital Management LLC bought a new position in Cummins during the fourth quarter valued at about $27,000. Ares Financial Consulting LLC bought a new position in Cummins during the fourth quarter valued at about $29,000. Finally, Osterweis Capital Management Inc. bought a new position in Cummins during the second quarter valued at about $31,000. Institutional investors own 83.46% of the company’s stock.

Trending Headlines about Cummins

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?

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CMI. Raymond James Financial raised their target price on Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a research note on Tuesday, May 26th. Morgan Stanley raised their target price on Cummins from $675.00 to $752.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. UBS Group raised Cummins from a “neutral” rating to a “buy” rating in a research note on Monday. Citigroup raised their target price on Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen cut Cummins from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Cummins has a consensus rating of “Moderate Buy” and an average target price of $705.79.

Cummins Trading Up 0.0%

Shares of NYSE CMI opened at $651.38 on Monday. Cummins Inc. has a 12 month low of $307.90 and a 12 month high of $718.08. The company has a market cap of $89.88 billion, a price-to-earnings ratio of 33.80, a P/E/G ratio of 1.59 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 business has a fifty day simple moving average of $635.72 and a 200-day simple moving average of $577.44.

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

Cummins Announces Dividend

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

Insider Buying and Selling at Cummins

In other news, EVP Bonnie J. Fetch sold 652 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $700.19, for a total transaction of $456,523.88. Following the completion of the sale, the executive vice president directly owned 11,679 shares of the company’s stock, valued at $8,177,519.01. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Donald G. Jackson sold 730 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the sale, the vice president directly owned 8,316 shares of the company’s stock, valued at approximately $5,912,010.72. This represents a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,579 shares of company stock valued at $9,377,684 over the last 90 days. 0.30% of the stock is owned by insiders.

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.