TD Asset Management Inc Sells 7,921 Shares of Cummins Inc. $CMI

TD Asset Management Inc lowered its position in shares of Cummins Inc. (NYSE:CMI) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,908 shares of the company’s stock after selling 7,921 shares during the period. TD Asset Management Inc owned approximately 0.05% of Cummins worth $38,237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Cummins by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock valued at $9,058,841,000 after acquiring an additional 98,544 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cummins by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock valued at $1,822,534,000 after acquiring an additional 35,286 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Cummins by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock worth $1,741,004,000 after purchasing an additional 43,722 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Cummins by 10,317.7% in 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 purchasing an additional 2,434,876 shares during the last quarter. Finally, Norges Bank purchased a new stake in Cummins in the fourth quarter worth approximately $863,441,000. Institutional investors own 83.46% of the company’s stock.

Cummins Trading Down 3.9%

Shares of Cummins stock opened at $651.38 on Friday. The company’s fifty day simple moving average is $635.72 and its 200-day simple moving average is $576.59. The stock has a market capitalization of $89.88 billion, a PE ratio of 33.80, a P/E/G ratio of 1.59 and a beta of 1.23. Cummins Inc. has a 1-year low of $307.90 and a 1-year high of $718.08. 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 (NYSE:CMI) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.52. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $5.96 EPS. As a group, equities analysts anticipate that Cummins Inc. will post 29.29 earnings per share for the current year.

Cummins Announces Dividend

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

Insider Buying and Selling at Cummins

In other news, CAO Nicole Lamb-Hale sold 2,408 shares of Cummins stock in a transaction on Friday, May 8th. The shares were sold at an average price of $685.34, for a total transaction of $1,650,298.72. Following the transaction, the chief accounting officer owned 14,084 shares in the company, valued at $9,652,328.56. This trade represents a 14.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction on Thursday, May 14th. The stock was 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. This represents a 8.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 13,579 shares of company stock worth $9,377,684. Insiders own 0.30% of the company’s stock.

Key Cummins News

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?

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CMI shares. Wells Fargo & Company raised their target price on shares of Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Raymond James Financial raised their target price on shares of Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. Truist Financial set a $815.00 target price on shares of Cummins in a report on Wednesday, May 6th. Robert W. Baird set a $700.00 target price on shares of Cummins in a report on Wednesday, May 6th. Finally, Evercore restated an “outperform” rating and issued a $845.00 target price on shares of Cummins in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.