Cummins Inc. $CMI Shares Sold by Cookson Peirce & Co. Inc.

by · The Markets Daily

Cookson Peirce & Co. Inc. lowered its position in shares of Cummins Inc. (NYSE:CMI – Free Report) by 43.7% during the fourth quarter, Holdings Channel reports. The fund owned 2,711 shares of the company’s stock after selling 2,107 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Cummins were worth $1,384,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Cummins by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock worth $9,058,841,000 after acquiring an additional 98,544 shares during the last quarter. Geode Capital Management LLC boosted its position in Cummins by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock worth $1,822,534,000 after acquiring an additional 35,286 shares during the last quarter. Fisher Asset Management LLC boosted its position in Cummins by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock worth $1,741,004,000 after acquiring an additional 43,722 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Cummins by 10,317.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock worth $1,254,929,000 after acquiring an additional 2,434,876 shares during the last quarter. Finally, Norges Bank acquired a new stake in Cummins during the fourth quarter worth approximately $863,441,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Stock Performance

NYSE:CMI opened at $651.38 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $89.88 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 1.59 and a beta of 1.23. The firm’s fifty day simple moving average is $635.72 and its 200 day simple moving average is $577.44. Cummins Inc. has a twelve month low of $307.90 and a twelve month high of $718.08.

Cummins (NYSE:CMI – Get Free Report) last posted 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. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.96 EPS. As a group, equities research analysts expect that Cummins Inc. will post 29.29 earnings per share for the current fiscal year.

Cummins Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CMI shares. Evercore reiterated an “outperform” rating and issued a $845.00 price target on shares of Cummins in a report on Monday, May 11th. Weiss Ratings lowered shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Wells Fargo & Company lifted their price target on shares of Cummins from $693.00 to $794.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price target on shares of Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Barclays lifted their price target on shares of Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cummins has a consensus rating of “Moderate Buy” and an average price target of $705.79.

Check Out Our Latest Research Report on CMI

Key Stories Impacting Cummins

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?

Insider Buying and Selling at Cummins

In related news, VP Marvin Boakye sold 3,481 shares of Cummins stock in a transaction on Friday, May 8th. The shares were sold at an average price of $679.90, for a total transaction of $2,366,731.90. Following the transaction, the vice president owned 8,508 shares in the company, valued at approximately $5,784,589.20. The trade was a 29.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $710.92, for a total transaction of $518,971.60. Following the transaction, the vice president owned 8,316 shares in the company, valued at $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 three months, insiders have sold 13,579 shares of company stock worth $9,377,684. Corporate insiders own 0.30% of the company’s stock.

Cummins Profile

(Free Report)

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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