California Public Employees Retirement System Acquires 6,698 Shares of Cummins Inc. $CMI

California Public Employees Retirement System lifted its holdings in Cummins Inc. (NYSE:CMI) by 2.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 276,484 shares of the company’s stock after buying an additional 6,698 shares during the quarter. California Public Employees Retirement System owned approximately 0.20% of Cummins worth $148,754,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its position in 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 last quarter. Norges Bank bought a new stake in shares of Cummins during the fourth quarter worth $863,441,000. Boston Partners bought a new stake in shares of Cummins during the third quarter worth $473,471,000. SG Americas Securities LLC boosted its stake in shares of Cummins by 257.9% during the first quarter. SG Americas Securities LLC now owns 736,670 shares of the company’s stock valued at $396,343,000 after purchasing an additional 530,812 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Cummins by 245.1% during the fourth quarter. First Trust Advisors LP now owns 542,796 shares of the company’s stock valued at $277,071,000 after purchasing an additional 385,525 shares during the period. 83.46% of the stock is owned by institutional investors.

Cummins Trading Down 0.0%

Shares of NYSE CMI opened at $647.67 on Friday. Cummins Inc. has a 1-year low of $344.02 and a 1-year high of $737.76. The business has a fifty day moving average price of $677.02 and a 200 day moving average price of $614.26. The stock has a market capitalization of $89.37 billion, a P/E ratio of 33.61, a price-to-earnings-growth ratio of 1.58 and a beta of 1.22. 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 announced its earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $5.96 earnings per share. Equities research analysts expect that Cummins Inc. will post 29.34 EPS for the current fiscal year.

Cummins Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be paid a dividend of $2.20 per share. This is a boost from Cummins’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, August 21st. This represents a $8.80 annualized dividend and a dividend yield of 1.4%. Cummins’s dividend payout ratio (DPR) is presently 41.52%.

Analysts Set New Price Targets

CMI has been the topic of several recent analyst reports. Argus raised their price target on shares of Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. UBS Group reissued a “buy” rating on shares of Cummins in a research report on Wednesday, June 17th. Citigroup upped their target price on shares of Cummins from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday. 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 research report on Tuesday, May 26th. Finally, Weiss Ratings downgraded shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $740.07.

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

Insider Activity at Cummins

In other Cummins news, VP Donald G. Jackson sold 730 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were 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 $5,912,010.72. This trade represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bonnie J. Fetch sold 652 shares of Cummins stock in a transaction on Monday, May 11th. The stock was sold at an average price of $700.19, for a total transaction of $456,523.88. Following the completion of the transaction, the executive vice president directly owned 11,679 shares in the company, valued at $8,177,519.01. This represents a 5.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,579 shares of company stock valued at $9,377,684 over the last three months. Company insiders own 0.30% of the company’s stock.

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.