Brandywine Global Investment Management LLC Cuts Position in Cummins Inc. $CMI

Brandywine Global Investment Management LLC cut its stake in Cummins Inc. (NYSE:CMI) by 1.9% during the fourth quarter, HoldingsChannel reports. The fund owned 79,643 shares of the company’s stock after selling 1,572 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Cummins were worth $40,654,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CMI. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cummins by 10,317.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock valued at $1,254,929,000 after acquiring an additional 2,434,876 shares during the period. Norges Bank acquired a new stake in shares of Cummins in the 4th quarter worth $863,441,000. Boston Partners acquired a new stake in shares of Cummins in the 3rd quarter worth $473,471,000. London Co. of Virginia acquired a new stake in shares of Cummins in the 3rd quarter worth $231,732,000. Finally, Nordea Investment Management AB boosted its position in shares of Cummins by 103.8% in the 4th quarter. Nordea Investment Management AB now owns 546,540 shares of the company’s stock worth $280,397,000 after purchasing an additional 278,350 shares in the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CMI. Wells Fargo & Company raised their price objective on Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. raised their price objective on Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Barclays raised their price objective on Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Truist Financial set a $815.00 price objective on Cummins in a research report on Wednesday, May 6th. Finally, Wall Street Zen cut Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $705.79.

Insiders Place Their Bets

In related news, CAO Nicole Lamb-Hale sold 2,408 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer owned 14,084 shares of the company’s stock, valued at approximately $9,652,328.56. This represents a 14.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Donald G. Jackson sold 730 shares of the company’s stock in a transaction dated 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 transaction, the vice president directly owned 8,316 shares of the company’s stock, valued at $5,912,010.72. The trade was a 8.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is currently owned by company insiders.

Cummins Stock Performance

Shares of CMI stock opened at $651.38 on Monday. The stock has a market cap of $89.88 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 1.59 and a beta of 1.23. The business has a 50-day simple moving average of $635.72 and a 200-day simple moving average of $577.44. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. Cummins Inc. has a 52-week low of $307.90 and a 52-week high of $718.08.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.52. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.96 EPS. On average, equities analysts expect that Cummins Inc. will post 29.29 EPS for the current year.

Cummins Dividend Announcement

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

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?

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.