XML Financial LLC Has $3.38 Million Holdings in Cummins Inc. $CMI

XML Financial LLC cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 21.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,618 shares of the company’s stock after selling 1,760 shares during the quarter. XML Financial LLC’s holdings in Cummins were worth $3,378,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CMI. Fisher Asset Management LLC raised its stake in shares of Cummins by 2.8% in the third quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company’s stock valued at $1,422,121,000 after purchasing an additional 91,956 shares in the last quarter. Accredited Wealth Management LLC raised its stake in shares of Cummins by 3,100.0% in the third quarter. Accredited Wealth Management LLC now owns 3,200 shares of the company’s stock valued at $1,352,000 after purchasing an additional 3,100 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Cummins by 5.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 48,795 shares of the company’s stock valued at $20,610,000 after purchasing an additional 2,574 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Cummins in the third quarter valued at $11,129,000. Finally, Payden & Rygel acquired a new position in shares of Cummins in the third quarter valued at $9,757,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

More Cummins News

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 Stock Performance

Shares of NYSE:CMI opened at $651.38 on Friday. The business’s fifty day moving average price is $635.72 and its two-hundred day moving average price is $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 price-to-earnings ratio of 33.80, a price-to-earnings-growth ratio of 1.59 and a beta of 1.23. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11.

Cummins (NYSE:CMI) last announced 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. 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 analysts’ expectations of $8.37 billion. During the same period in the prior year, the business posted $5.96 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts predict that Cummins Inc. will post 29.29 EPS for the current fiscal year.

Cummins Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on CMI. JPMorgan Chase & Co. upped their target price on Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Morgan Stanley upped their target price on Cummins from $675.00 to $752.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wells Fargo & Company upped their target price on Cummins from $693.00 to $794.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Sanford C. Bernstein restated a “market perform” rating on shares of Cummins in a research note on Friday, May 22nd. Finally, Zacks Research upgraded Cummins from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $705.79.

Insider Transactions at Cummins

In other Cummins news, insider Brett Michael Merritt sold 701 shares of the company’s 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 sale, the insider directly owned 10,404 shares in the company, valued at $7,165,755. This represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Nathan R. Stoner sold 607 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $694.06, for a total value of $421,294.42. Following the completion of the sale, the vice president owned 9,447 shares in the company, valued at $6,556,784.82. This trade represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 13,579 shares of company stock valued at $9,377,684. 0.30% of the stock is owned by insiders.

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.