5,580 Cummins Inc. $CMI Shares Sold by DMKC Advisory Services LLC

DMKC Advisory Services LLC reduced its holdings in Cummins Inc. (NYSE:CMI) by 72.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,166 shares of the company’s stock after selling 5,580 shares during the period. DMKC Advisory Services LLC’s holdings in Cummins were worth $1,119,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMI. Global Wealth Management Investment Advisory Inc. raised its holdings in Cummins by 1,473.8% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 9,144 shares of the company’s stock worth $4,723,000 after acquiring an additional 8,563 shares in the last quarter. 71 West Capital Partners boosted its position in Cummins by 5.2% during the third quarter. 71 West Capital Partners now owns 1,444 shares of the company’s stock valued at $746,000 after purchasing an additional 71 shares during the last quarter. Kohmann Bosshard Financial Services LLC grew its stake in Cummins by 7.3% in the third quarter. Kohmann Bosshard Financial Services LLC now owns 1,010 shares of the company’s stock valued at $521,000 after purchasing an additional 69 shares in the last quarter. Fulcrum Asset Management LLP grew its stake in Cummins by 542.2% in the third quarter. Fulcrum Asset Management LLP now owns 8,092 shares of the company’s stock valued at $4,219,000 after purchasing an additional 6,832 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Cummins by 53.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 102,532 shares of the company’s stock valued at $53,009,000 after purchasing an additional 35,626 shares in the last quarter. 83.46% of the stock is owned by institutional investors.

Cummins Trading Up 3.7%

Shares of NYSE:CMI opened at $466.73 on Tuesday. Cummins Inc. has a 52-week low of $443.62 and a 52-week high of $737.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.73. The company has a market capitalization of $64.25 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 1.24 and a beta of 1.26. The company has a 50-day simple moving average of $524.50 and a 200 day simple moving average of $599.03.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Thursday, November 5th. The company reported $8.25 earnings per share for the quarter, topping analysts’ consensus estimates of $8.20 by $0.05. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.89 billion. Cummins had a return on equity of 25.29% and a net margin of 7.82%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.59 earnings per share. Sell-side analysts forecast that Cummins Inc. will post 29.98 earnings per share for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Friday, November 20th will be given a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 20th. Cummins’s dividend payout ratio (DPR) is presently 36.73%.

More Cummins News

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: AI data-center power demand and a strong order backlog could support growth. However, supply constraints may limit the company’s ability to meet demand. Zacks article
• Neutral Sentiment: Barclays cut its price target to $600 from $675 but maintained an Overweight rating, indicating it still sees potential upside from the referenced share price. Barclays rating information
• Neutral Sentiment: Oppenheimer maintained its Hold rating, while Wells Fargo, Citigroup and Truist also reduced their price targets; the reports provided do not specify the new targets. Oppenheimer rating Wells Fargo target report Citigroup target report Truist target report
• Negative Sentiment: JPMorgan lowered its target sharply, from $600 to $465, and moved to a Neutral rating. The bank’s target is approximately in line with the referenced share price. JPMorgan rating information
• Negative Sentiment: An analysis cited cuts to fair value estimates as analysts trimmed growth and margin expectations. Truck-market weakness is another concern alongside supply constraints. Yahoo Finance article

Insider Activity at Cummins

In other news, VP Earl Newsome sold 698 shares of Cummins stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $572.22, for a total transaction of $399,409.56. Following the completion of the transaction, the vice president directly owned 4,479 shares in the company, valued at approximately $2,562,973.38. The trade was a 13.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CMI. Truist Financial dropped their price objective on Cummins from $779.00 to $637.00 and set a “buy” rating on the stock in a research note on Friday. Weiss Ratings downgraded Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 31st. Zacks Research cut shares of Cummins from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. lowered their target price on shares of Cummins from $600.00 to $465.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Wells Fargo & Company lowered their target price on shares of Cummins from $608.00 to $520.00 and set an “overweight” rating on the stock in a report on Friday. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $662.18.

About Cummins

Cummins Inc is a global power technology company founded in 1919 and headquartered in Columbus, Indiana. It designs, manufactures, distributes and services products used in commercial vehicles, industrial equipment, power generation and other applications.

The company’s offerings include diesel and natural gas engines, power generation systems, and components such as filtration, turbochargers and emissions-control systems. Through its Accelera business, Cummins also develops technologies including batteries, fuel cells and electrolyzers for lower-emission power and transportation.

Cummins serves customers in markets around the world through manufacturing operations, distribution networks and service locations.