SEB Asset Management AB Makes New $22.09 Million Investment in Cummins Inc. $CMI

SEB Asset Management AB bought a new position in Cummins Inc. (NYSE:CMI) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 41,057 shares of the company’s stock, valued at approximately $22,089,000.

Other hedge funds have also made changes to their positions in the company. Thompson Investment Management Inc. purchased a new position in Cummins during the 4th quarter worth approximately $26,000. Activest Wealth Management lifted its holdings in shares of Cummins by 537.5% in the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after purchasing an additional 43 shares in the last quarter. Cedar Mountain Advisors LLC boosted its position in shares of Cummins by 1,500.0% in the first quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock worth $26,000 after buying an additional 45 shares during the period. Wellington Shields Capital Management LLC purchased a new position in shares of Cummins during the fourth quarter valued at $27,000. Finally, Key Financial Inc grew its holdings in shares of Cummins by 62.5% during the first quarter. Key Financial Inc now owns 52 shares of the company’s stock valued at $28,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

CMI stock opened at $647.67 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $89.37 billion, a price-to-earnings ratio of 33.61, a P/E/G ratio of 1.58 and a beta of 1.22. Cummins Inc. has a 12 month low of $344.02 and a 12 month high of $737.76. The firm has a 50 day moving average of $677.02 and a two-hundred day moving average of $614.96.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter last year, the firm earned $5.96 EPS. Cummins’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts anticipate that Cummins Inc. will post 29.34 EPS for the current fiscal year.

Cummins Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be given a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, August 21st. This is a positive change from Cummins’s previous quarterly dividend of $2.00. This represents a $8.80 annualized dividend and a yield of 1.4%. Cummins’s dividend payout ratio (DPR) is currently 41.52%.

Trending Headlines about Cummins

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Morgan Stanley boosted its price target on Cummins and kept an overweight rating, signaling confidence in further upside. Benzinga
• Neutral Sentiment: Zacks Research slightly raised its Q3 2027 EPS estimate for Cummins to $9.02 from $9.00, a small change that suggests stable longer-term expectations. Article
• Neutral Sentiment: Other Zacks revisions were mixed but generally small, with slight cuts to some FY2027/FY2028 estimates and a continued Hold rating, suggesting analysts are not seeing a major near-term change in fundamentals. Article

Analyst Upgrades and Downgrades

CMI has been the subject of several research analyst reports. Barclays increased their price objective on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Citigroup upped their target price on Cummins from $770.00 to $790.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Robert W. Baird set a $700.00 price target on shares of Cummins in a research report on Wednesday, May 6th. Weiss Ratings downgraded shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Finally, Argus upped their price objective on shares of Cummins from $696.00 to $770.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $740.07.

Insider Activity at Cummins

In related news, CAO Nicole Lamb-Hale sold 2,408 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $685.34, for a total value of $1,650,298.72. Following the transaction, the chief accounting officer directly owned 14,084 shares of the company’s stock, valued at approximately $9,652,328.56. This trade represents a 14.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer Mary Bush sold 5,000 shares of the business’s 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 completion of the sale, the vice president owned 11,986 shares of the company’s stock, valued at approximately $8,344,773.06. This trade represents a 29.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 13,579 shares of company stock valued at $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.