Wharton Business Group LLC Reduces Stock Holdings in Cummins Inc. $CMI

Wharton Business Group LLC reduced its stake in shares of Cummins Inc. (NYSE:CMI) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,026 shares of the company’s stock after selling 880 shares during the period. Cummins accounts for 1.0% of Wharton Business Group LLC’s portfolio, making the stock its 24th biggest holding. Wharton Business Group LLC’s holdings in Cummins were worth $26,557,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Thompson Investment Management Inc. purchased a new position in shares of Cummins during the 4th quarter valued at about $26,000. Activest Wealth Management lifted its position in shares of Cummins by 537.5% during the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after buying an additional 43 shares in the last quarter. Wellington Shields Capital Management LLC purchased a new position in shares of Cummins during the 4th quarter valued at about $27,000. Ares Financial Consulting LLC purchased a new position in shares of Cummins during the 4th quarter valued at about $29,000. Finally, Osterweis Capital Management Inc. bought a new stake in Cummins during the 2nd quarter valued at approximately $31,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CMI has been the topic of several recent analyst reports. Truist Financial set a $815.00 target price on Cummins in a research note on Wednesday, May 6th. Barclays lifted their target price on Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Evercore reissued an “outperform” rating and set a $845.00 target price on shares of Cummins in a research note on Monday, May 11th. JPMorgan Chase & Co. lifted 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. Finally, Weiss Ratings downgraded Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. One 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $705.79.

Cummins Stock Performance

NYSE:CMI opened at $651.38 on Friday. 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 Inc. has a 1 year low of $307.90 and a 1 year high of $718.08. The stock’s 50 day simple moving average is $635.72 and its two-hundred day simple moving average is $576.59. The company 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.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the company posted $5.96 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that Cummins Inc. will post 29.29 earnings per share for the current fiscal year.

Cummins Dividend Announcement

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

Trending Headlines about 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?

Insiders Place Their Bets

In other Cummins news, VP Jennifer Mary Bush sold 5,000 shares of Cummins stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total value of $3,481,050.00. Following the sale, the vice president owned 11,986 shares of the company’s stock, valued at $8,344,773.06. The trade was a 29.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the sale, the vice president directly owned 8,316 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 13,579 shares of company stock worth $9,377,684. Insiders own 0.30% of the company’s stock.

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.