Cummins Inc. $CMI Shares Bought by Vise Technologies Inc.

by · The Markets Daily

Vise Technologies Inc. raised its stake in Cummins Inc. (NYSE:CMI – Free Report) by 27.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,795 shares of the company’s stock after acquiring an additional 1,914 shares during the quarter. Vise Technologies Inc.’s holdings in Cummins were worth $4,489,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Fisher Asset Management LLC lifted its holdings in Cummins by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 3,367,001 shares of the company’s stock valued at $1,422,121,000 after acquiring an additional 91,956 shares during the last quarter. Accredited Wealth Management LLC lifted its holdings in Cummins by 3,100.0% in the 3rd quarter. Accredited Wealth Management LLC now owns 3,200 shares of the company’s stock valued at $1,352,000 after acquiring an additional 3,100 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Cummins by 5.6% in the 3rd 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 acquiring an additional 2,574 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in Cummins in the 3rd quarter valued at about $11,129,000. Finally, Payden & Rygel acquired a new stake in Cummins in the 3rd quarter valued at about $9,757,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on CMI. Morgan Stanley upped their price target on shares of Cummins from $675.00 to $752.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Evercore reissued an “outperform” rating and issued a $845.00 price target on shares of Cummins in a report on Monday, May 11th. Citigroup upped their price target on shares of Cummins from $710.00 to $770.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Truist Financial set a $815.00 price target on shares of Cummins in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $705.79.

Read Our Latest Report on Cummins

Insider Activity

In other Cummins news, VP Nathan R. Stoner sold 607 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $694.06, for a total transaction of $421,294.42. Following the sale, the vice president owned 9,447 shares in the company, valued at approximately $6,556,784.82. The trade was a 6.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bonnie J. Fetch sold 652 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $700.19, for a total value of $456,523.88. Following the sale, the executive vice president owned 11,679 shares in the company, valued at approximately $8,177,519.01. The trade was a 5.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is owned by company insiders.

Cummins Price Performance

NYSE CMI opened at $651.38 on Friday. The stock’s 50-day moving average price is $635.72 and its two-hundred day moving average price is $576.59. 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 company has a market cap of $89.88 billion, a PE ratio of 33.80, a PEG ratio of 1.66 and a beta of 1.23. Cummins Inc. has a 1 year low of $307.90 and a 1 year high of $718.08.

Cummins (NYSE:CMI – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.52. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.96 EPS. On average, analysts predict that Cummins Inc. will post 29.29 EPS for the current year.

Cummins Announces Dividend

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

Cummins News Roundup

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

(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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