Daiwa Securities Group Inc. Grows Holdings in Cummins Inc. $CMI

Daiwa Securities Group Inc. increased its position in shares of Cummins Inc. (NYSE:CMI) by 10.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,891 shares of the company’s stock after purchasing an additional 2,233 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Cummins were worth $12,195,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC lifted its stake in Cummins by 0.5% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company’s stock worth $1,908,000 after purchasing an additional 18 shares during the last quarter. Financial Consulate Inc. lifted its stake in Cummins by 16.8% during the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company’s stock worth $64,000 after purchasing an additional 18 shares during the last quarter. ICW Investment Advisors LLC lifted its stake in Cummins by 2.6% during the fourth quarter. ICW Investment Advisors LLC now owns 723 shares of the company’s stock worth $369,000 after purchasing an additional 18 shares during the last quarter. Gilbert & Cook Inc. lifted its stake in Cummins by 1.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company’s stock worth $947,000 after purchasing an additional 19 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC lifted its stake in Cummins by 2.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 981 shares of the company’s stock worth $501,000 after purchasing an additional 20 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Donald G. Jackson sold 730 shares of the stock in a transaction on 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 transaction, the vice president owned 8,316 shares in the company, valued at $5,912,010.72. This trade represents a 8.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Marvin Boakye sold 3,481 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $679.90, for a total value of $2,366,731.90. Following the completion of the transaction, the vice president owned 8,508 shares of the company’s stock, valued at $5,784,589.20. This trade represents a 29.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,579 shares of company stock worth $9,377,684 over the last three months. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

CMI has been the topic of several analyst reports. Wells Fargo & Company increased their target price on Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Truist Financial set a $815.00 target price on Cummins in a research report on Wednesday, May 6th. Robert W. Baird set a $700.00 target price on Cummins in a research report on Wednesday, May 6th. Weiss Ratings lowered Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Finally, Argus increased their target price on Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $705.79.

Cummins Trading Down 3.9%

Shares of CMI stock opened at $651.38 on Friday. The stock has a 50-day simple moving average of $635.72 and a 200 day simple moving average of $576.59. Cummins Inc. has a fifty-two week low of $307.90 and a fifty-two week high of $718.08. The stock has a market capitalization of $89.88 billion, a P/E 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.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share 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 analysts’ expectations of $8.37 billion. During the same quarter last year, the business posted $5.96 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that Cummins Inc. will post 29.29 earnings per share for the current fiscal year.

Cummins Announces Dividend

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

Cummins News Summary

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?

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.