Meeder Asset Management Inc. Sells 9,232 Shares of Cummins Inc. $CMI

Meeder Asset Management Inc. lowered its stake in shares of Cummins Inc. (NYSE:CMI) by 56.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,042 shares of the company’s stock after selling 9,232 shares during the quarter. Meeder Asset Management Inc.’s holdings in Cummins were worth $3,789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMI. Brighton Jones LLC lifted its position in shares of Cummins by 4.1% during the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after purchasing an additional 83 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Cummins by 40.8% in the first quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock valued at $1,240,000 after purchasing an additional 1,146 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Cummins by 2.8% in the second quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock valued at $21,055,000 after purchasing an additional 1,759 shares in the last quarter. ICW Investment Advisors LLC bought a new position in Cummins in the 2nd quarter worth approximately $225,000. Finally, Osterweis Capital Management Inc. acquired a new position in Cummins during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jennifer Mary Bush sold 5,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the completion of the transaction, the vice president directly owned 11,986 shares in the company, valued at $8,344,773.06. This represents a 29.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brett Michael Merritt sold 701 shares of Cummins stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $688.75, for a total value of $482,813.75. Following the completion of the sale, the insider directly owned 10,404 shares in the company, valued at approximately $7,165,755. This represents a 6.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 13,579 shares of company stock valued at $9,377,684 in the last quarter. Company insiders own 0.30% of the company’s stock.

Cummins News Roundup

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Morgan Stanley boosted its price target on Cummins and kept an overweight rating, signaling confidence in further upside. Benzinga
• Neutral Sentiment: Zacks Research slightly raised its Q3 2027 EPS estimate for Cummins to $9.02 from $9.00, a small change that suggests stable longer-term expectations. Article
• Neutral Sentiment: Other Zacks revisions were mixed but generally small, with slight cuts to some FY2027/FY2028 estimates and a continued Hold rating, suggesting analysts are not seeing a major near-term change in fundamentals. Article

Cummins Price Performance

CMI opened at $647.67 on Monday. The company has a fifty day moving average price of $677.02 and a two-hundred day moving average price of $614.96. The firm has a market capitalization of $89.37 billion, a PE ratio of 33.61, a P/E/G ratio of 1.58 and a beta of 1.22. Cummins Inc. has a 52 week low of $344.02 and a 52 week high of $737.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.96 EPS. As a group, analysts anticipate that Cummins Inc. will post 29.34 earnings per share for the current year.

Cummins Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be given a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a yield of 1.4%. This is an increase from Cummins’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, August 21st. Cummins’s payout ratio is 41.52%.

Wall Street Analysts Forecast Growth

CMI has been the topic of a number of recent research reports. Robert W. Baird set a $700.00 price objective on Cummins in a research report on Wednesday, May 6th. Morgan Stanley upped their price target on Cummins from $752.00 to $761.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial raised their price target on Cummins from $815.00 to $901.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Zacks Research lowered Cummins from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Raymond James Financial boosted their price objective on Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $740.07.

Cummins Company Profile

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.