Donoghue Forlines LLC reduced its position in shares of Cummins Inc. (NYSE:CMI – Free Report) by 18.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,364 shares of the company’s stock after selling 993 shares during the quarter. Donoghue Forlines LLC’s holdings in Cummins were worth $2,228,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Cummins by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock worth $9,058,841,000 after buying an additional 98,544 shares during the last quarter. Fisher Asset Management LLC lifted its position in Cummins by 2.8% in the third quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company’s stock worth $1,422,121,000 after buying an additional 91,956 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Cummins by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,537,347 shares of the company’s stock worth $649,280,000 after buying an additional 7,372 shares during the last quarter. Raymond James Financial Inc. lifted its position in Cummins by 4.5% in the third quarter. Raymond James Financial Inc. now owns 1,515,473 shares of the company’s stock worth $640,090,000 after buying an additional 64,822 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Cummins by 50.8% in the third quarter. Bank of New York Mellon Corp now owns 1,450,659 shares of the company’s stock worth $612,715,000 after buying an additional 488,430 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
CMI has been the subject of a number of analyst reports. Wolfe Research downgraded Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price target for the company. in a research report on Monday, January 26th. Robert W. Baird set a $700.00 target price on Cummins in a research note on Wednesday, May 6th. Zacks Research upgraded Cummins from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. 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 note on Wednesday, May 6th. Finally, UBS Group set a $565.00 target price on Cummins and gave the stock a “neutral” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $677.87.
Cummins Stock Performance
CMI stock opened at $715.33 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $599.02 and its two-hundred day simple moving average is $553.62. Cummins Inc. has a twelve month low of $307.90 and a twelve month high of $718.08. The firm has a market cap of $98.71 billion, a price-to-earnings ratio of 37.12, a PEG ratio of 1.79 and a beta of 1.27.
Cummins (NYSE:CMI – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, beating the consensus estimate of $5.63 by $0.52. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $5.96 earnings per share. Analysts predict that Cummins Inc. will post 28.39 earnings per share for the current year.
Cummins Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd will be paid a dividend of $2.00 per share. The ex-dividend date is Friday, May 22nd. This represents a $8.00 annualized dividend and a dividend yield of 1.1%. Cummins’s dividend payout ratio (DPR) is currently 41.52%.
Insider Activity
In other news, VP Donald G. Jackson sold 1,600 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total transaction of $960,208.00. Following the transaction, the vice president owned 7,214 shares in the company, valued at approximately $4,329,337.82. This trade represents a 18.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Amy Rochelle Davis sold 4,054 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total value of $2,275,672.36. Following the transaction, the vice president owned 15,807 shares in the company, valued at approximately $8,873,101.38. This represents a 20.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 22,397 shares of company stock valued at $14,465,833. Company 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’ latest earnings beat expectations, with EPS of $6.15 on revenue of $8.40 billion, reinforcing confidence in the company’s operating momentum and supporting the stock. Cummins stock report
- Positive Sentiment: Analysts have turned more constructive, with Citigroup, Barclays, and Evercore raising targets, while Zacks upgraded Cummins to “strong-buy,” which can lift investor sentiment. Cummins price target raised article
- Positive Sentiment: The company declared a quarterly dividend of $2.00 per share, underscoring shareholder returns and adding to the stock’s income appeal.
- Positive Sentiment: Shareholders approved the board, pay package, and incentive plan at the annual meeting, signaling governance continuity and support for management. Cummins Shareholders Back Board, Pay and Incentive Plan
- Neutral Sentiment: One Cummins vice president sold shares, and several other insider sales were reported this week; while not necessarily a red flag, the activity may slightly temper enthusiasm.
- Neutral Sentiment: Recent articles discussing Cummins’ momentum and relative performance versus industrial peers are more commentary than fresh catalysts. Relative performance article
About Cummins
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.
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