Cummins Inc. $CMI Shares Sold by ING Groep NV

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

Several other institutional investors and hedge funds have also made changes to their positions in CMI. Northwestern Mutual Wealth Management Co. raised its position in shares of Cummins by 10,317.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock valued at $1,254,929,000 after acquiring an additional 2,434,876 shares in the last quarter. Norges Bank acquired a new stake in shares of Cummins during the 4th quarter valued at approximately $863,441,000. Boston Partners acquired a new stake in shares of Cummins during the 3rd quarter valued at approximately $473,471,000. London Co. of Virginia acquired a new stake in shares of Cummins during the 3rd quarter valued at approximately $231,732,000. Finally, Nordea Investment Management AB raised its position in shares of Cummins by 103.8% during the 4th quarter. Nordea Investment Management AB now owns 546,540 shares of the company’s stock valued at $280,397,000 after acquiring an additional 278,350 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Brett Michael Merritt sold 701 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $688.75, for a total value of $482,813.75. Following the completion of the transaction, the insider owned 10,404 shares of the company’s stock, valued at approximately $7,165,755. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 directly owned 8,316 shares of the company’s stock, valued at approximately $5,912,010.72. The trade was a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 13,579 shares of company stock valued at $9,377,684. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CMI. Zacks Research raised Cummins from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Evercore reissued an “outperform” rating and set a $845.00 price target on shares of Cummins in a research report on Monday, May 11th. Sanford C. Bernstein reissued a “market perform” rating on shares of Cummins in a research report on Friday, May 22nd. Citigroup increased their target price on Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Barclays increased their target price on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $705.79.

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 Price Performance

Shares of NYSE CMI opened at $651.38 on Monday. Cummins Inc. has a 1-year low of $307.90 and a 1-year high of $718.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. The business’s fifty day moving average price is $635.72 and its two-hundred day moving average price is $577.44. The firm has a market capitalization of $89.88 billion, a PE ratio of 33.80, a P/E/G ratio of 1.59 and a beta of 1.23.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, topping 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 firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period last year, the company earned $5.96 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts expect that Cummins Inc. will post 29.29 EPS for the current year.

Cummins Announces Dividend

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

Cummins 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.