Cookson Peirce & Co. Inc. Cuts Stock Holdings in Cummins Inc. $CMI

Cookson Peirce & Co. Inc. reduced its position in shares of Cummins Inc. (NYSE:CMI) by 43.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,711 shares of the company’s stock after selling 2,107 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Cummins were worth $1,384,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CMI. Brighton Jones LLC raised its holdings in Cummins by 4.1% during the fourth quarter. Brighton Jones LLC now owns 2,112 shares of the company’s stock worth $736,000 after purchasing an additional 83 shares in the last quarter. Intech Investment Management LLC increased its holdings in Cummins by 40.8% in the first quarter. Intech Investment Management LLC now owns 3,956 shares of the company’s stock valued at $1,240,000 after buying an additional 1,146 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in Cummins by 2.8% in the second quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company’s stock valued at $21,055,000 after buying an additional 1,759 shares in the last quarter. ICW Investment Advisors LLC purchased a new position in Cummins in the second quarter valued at about $225,000. Finally, Osterweis Capital Management Inc. purchased a new position in Cummins in the second quarter valued at about $31,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cummins

In other news, insider Brett Michael Merritt sold 701 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $688.75, for a total transaction of $482,813.75. Following the completion of the transaction, the insider directly owned 10,404 shares of the company’s stock, valued at $7,165,755. This trade represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Marvin Boakye sold 3,481 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $679.90, for a total transaction of $2,366,731.90. Following the transaction, the vice president directly owned 8,508 shares of the company’s stock, valued at approximately $5,784,589.20. This trade represents a 29.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 insiders.

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?

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CMI. Argus increased their target price on shares of Cummins from $696.00 to $770.00 and gave the company a “buy” rating in a report on Monday, June 1st. Evercore reaffirmed an “outperform” rating and issued a $845.00 target price on shares of Cummins in a report on Monday, May 11th. Weiss Ratings cut shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Raymond James Financial increased their target price on shares of Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Finally, Morgan Stanley increased their target price on shares of Cummins from $675.00 to $752.00 and gave the company an “overweight” rating 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 issued a Hold rating to the company’s stock. According to MarketBeat, Cummins presently has a consensus rating of “Moderate Buy” and an average price target of $705.79.

Cummins Trading Up 0.0%

Shares of CMI opened at $651.38 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. The firm has a 50 day simple moving average of $635.72 and a 200-day simple moving average of $577.44. Cummins Inc. has a 1-year low of $307.90 and a 1-year high of $718.08. The stock has a market cap of $89.88 billion, a price-to-earnings ratio of 33.80, a price-to-earnings-growth ratio of 1.59 and a beta of 1.23.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period last year, the company posted $5.96 EPS. The company’s revenue was up 2.7% on a year-over-year basis. Equities analysts forecast that Cummins Inc. will post 29.29 EPS for the current fiscal year.

Cummins Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s dividend payout ratio (DPR) is 41.52%.

Cummins Company 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.