Cummins Inc. $CMI Shares Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. raised its holdings in shares of Cummins Inc. (NYSE:CMI) by 31.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 676,042 shares of the company’s stock after purchasing an additional 162,036 shares during the period. Goldman Sachs Group Inc.’s holdings in Cummins were worth $345,086,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bridges Investment Management Inc. grew its holdings in shares of Cummins by 18.5% during the fourth quarter. Bridges Investment Management Inc. now owns 1,001 shares of the company’s stock valued at $511,000 after buying an additional 156 shares during the last quarter. Greenwich Wealth Management LLC purchased a new stake in shares of Cummins during the fourth quarter valued at $273,000. Tidemark LLC grew its holdings in shares of Cummins by 204.3% during the fourth quarter. Tidemark LLC now owns 210 shares of the company’s stock valued at $107,000 after buying an additional 141 shares during the last quarter. Dynasty Wealth Management LLC grew its holdings in shares of Cummins by 102.8% during the fourth quarter. Dynasty Wealth Management LLC now owns 1,381 shares of the company’s stock valued at $705,000 after buying an additional 700 shares during the last quarter. Finally, Beto Financial Group LLC purchased a new stake in shares of Cummins during the fourth quarter valued at $306,000. 83.46% of the stock is owned by institutional investors and hedge funds.

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 Price Performance

NYSE:CMI opened at $651.38 on Friday. Cummins Inc. has a one year low of $307.90 and a one year high of $718.08. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. The firm has a market cap of $89.88 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 1.66 and a beta of 1.23. The firm’s fifty day moving average is $635.72 and its two-hundred day moving average is $576.59.

Cummins (NYSE:CMI) last posted 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. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the prior year, the company earned $5.96 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. 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. Shareholders of record on Friday, May 22nd were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s dividend payout ratio is presently 41.52%.

Insider Buying and Selling at Cummins

In other news, insider Brett Michael Merritt sold 701 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $688.75, for a total transaction of $482,813.75. Following the sale, the insider directly owned 10,404 shares of the company’s stock, valued at $7,165,755. This represents a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Bonnie J. Fetch sold 652 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $700.19, for a total transaction of $456,523.88. Following the sale, the executive vice president directly owned 11,679 shares in the company, valued at approximately $8,177,519.01. The trade was a 5.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CMI has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Zacks Research raised shares of Cummins from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Truist Financial set a $815.00 price objective on shares of Cummins in a report on Wednesday, May 6th. Evercore reissued an “outperform” rating and set a $845.00 price objective on shares of Cummins in a report on Monday, May 11th. Finally, UBS Group set a $565.00 price objective on shares of Cummins and gave the company a “neutral” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $705.79.

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.