Cummins Inc. $CMI Stock Position Lessened by Candriam S.C.A.

Candriam S.C.A. cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 73.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,228 shares of the company’s stock after selling 30,796 shares during the period. Candriam S.C.A.’s holdings in Cummins were worth $5,821,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CMI. Wellington Management Group LLP lifted its stake in Cummins by 243.5% during the 2nd quarter. Wellington Management Group LLP now owns 495,047 shares of the company’s stock valued at $353,072,000 after acquiring an additional 350,910 shares in the last quarter. Fulcrum Wealth Advisors LLC boosted its holdings in Cummins by 611.8% during the 3rd quarter. Fulcrum Wealth Advisors LLC now owns 16,264 shares of the company’s stock worth $8,401,000 after acquiring an additional 13,979 shares during the last quarter. CWS Financial Advisors LLC boosted its holdings in Cummins by 973.2% during the 3rd quarter. CWS Financial Advisors LLC now owns 4,733 shares of the company’s stock worth $2,445,000 after acquiring an additional 4,292 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Cummins by 45.2% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 14,571 shares of the company’s stock worth $6,981,000 after purchasing an additional 4,538 shares in the last quarter. Finally, Legacy Private Trust Co. grew its holdings in shares of Cummins by 1,264.1% in the third quarter. Legacy Private Trust Co. now owns 12,222 shares of the company’s stock valued at $6,314,000 after acquiring an additional 11,326 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Price Performance

Cummins stock opened at $454.09 on Wednesday. The business’s 50 day simple moving average is $522.29 and its 200 day simple moving average is $598.38. Cummins Inc. has a 12 month low of $443.62 and a 12 month high of $737.76. The company has a market cap of $62.51 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 1.24 and a beta of 1.26. The company has a current ratio of 1.74, a quick ratio of 1.13 and a debt-to-equity ratio of 0.46.

Cummins (NYSE:CMI) last released its earnings results on Thursday, November 5th. The company reported $8.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.20 by $0.05. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.89 billion. Cummins had a return on equity of 26.82% and a net margin of 9.26%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the business posted $5.59 earnings per share. Sell-side analysts forecast that Cummins Inc. will post 29.83 EPS for the current year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Friday, November 20th will be paid a dividend of $2.20 per share. The ex-dividend date is Friday, November 20th. This represents a $8.80 annualized dividend and a dividend yield of 1.9%. Cummins’s dividend payout ratio is presently 36.73%.

Analysts Set New Price Targets

CMI has been the subject of a number of research analyst reports. CICC Research started coverage on Cummins in a research report on Sunday, August 23rd. They set an “outperform” rating and a $781.00 price target for the company. Barclays cut their price objective on Cummins from $675.00 to $600.00 and set an “overweight” rating on the stock in a research report on Monday. Wall Street Zen upgraded Cummins from a “hold” rating to a “buy” rating in a research note on Tuesday. Weiss Ratings lowered Cummins from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Finally, DA Davidson lifted their target price on Cummins from $605.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $658.29.

Insider Buying and Selling at Cummins

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

Key Cummins News

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Cummins unveiled its new S29 mining engine at its Chongqing plant, expanding its product offering for the mining market. The announcement could support growth, though the article details provided do not quantify its expected sales impact. Article: Cummins Unveils New S29 Mining Engine At Chongqing Engine Plant
• Positive Sentiment: AI data-center power demand and a strong order backlog are cited as growth drivers. However, supply constraints and weakness in the truck market may limit the upside. Article: Cummins After Q3: Is the Stock a Buy on AI Data Center Boom?
• Neutral Sentiment: Cummins underperformed competitors on Monday despite a gain in its shares, indicating relative weakness against peers. Article: Cummins stock underperforms competitors
• Negative Sentiment: Analysts have cut fair-value estimates, citing reduced expectations for growth and margins. Barclays lowered its target from $675 to $600 but maintained an “overweight” rating; JPMorgan cut its target from $600 to $465 and kept a “neutral” rating. Wells Fargo, Citigroup and Truist also reduced their targets, adding to pressure on investor sentiment. Article: Cummins fair value cut as analysts trim growth and margin views Article: Barclays lowers Cummins price target Article: JPMorgan lowers Cummins price target

Cummins Company Profile

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.