Strs Ohio Raises Stock Position in Cummins Inc. $CMI

Strs Ohio lifted its holdings in shares of Cummins Inc. (NYSE:CMI) by 5.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 62,392 shares of the company’s stock after buying an additional 3,095 shares during the period. Strs Ohio’s holdings in Cummins were worth $33,568,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. acquired a new stake in Cummins in the 4th quarter valued at $26,000. Activest Wealth Management lifted its stake in shares of Cummins by 537.5% during the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after purchasing an additional 43 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new position in shares of Cummins during the fourth quarter worth about $27,000. Key Financial Inc boosted its position in shares of Cummins by 62.5% in the first quarter. Key Financial Inc now owns 52 shares of the company’s stock worth $28,000 after buying an additional 20 shares during the period. Finally, Birchwood Financial Partners Inc. acquired a new stake in shares of Cummins in the fourth quarter valued at about $28,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Cummins

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Truist Financial raised its price target on Cummins to $901 from $815 and kept a buy rating, implying substantial upside from the current share price. This kind of target increase can support investor confidence. Benzinga article
• Positive Sentiment: Zacks Research raised earnings estimates across multiple periods for Cummins, including Q1 2027, Q2 2027, Q3 2027, Q4 2027, and FY2027, while reiterating a Strong-Buy view. Higher earnings forecasts often signal stronger expected business performance.
• Positive Sentiment: Cummins was also added to Zacks’ Rank #1 Strong Buy lists, including a July income-stock screen, reinforcing the recent bullish sentiment from analysts. Zacks article
• Neutral Sentiment: A separate Zacks article compared Cummins’ stock performance with other auto/tires/trucks names this year, but it did not introduce a direct catalyst on its own. Zacks article

Cummins Price Performance

CMI opened at $662.21 on Friday. The company has a market capitalization of $91.38 billion, a P/E ratio of 34.36, a PEG ratio of 1.62 and a beta of 1.22. The company has a 50-day moving average of $677.56 and a 200-day moving average of $603.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. Cummins Inc. has a 1-year low of $325.25 and a 1-year high of $737.76.

Cummins (NYSE:CMI) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 EPS 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $5.96 earnings per share. Equities analysts expect that Cummins Inc. will post 29.32 EPS for the current fiscal year.

Cummins Announces Dividend

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

Insider Buying and Selling

In other news, VP Donald G. Jackson sold 730 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president directly owned 8,316 shares in the company, valued at approximately $5,912,010.72. The trade was a 8.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brett Michael Merritt sold 701 shares of the company’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 value of $482,813.75. Following the sale, the insider directly owned 10,404 shares in the company, valued at approximately $7,165,755. This represents a 6.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In 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 insiders.

Analyst Upgrades and Downgrades

CMI has been the topic of several analyst reports. Wells Fargo & Company raised their target price on Cummins from $794.00 to $874.00 and gave the company an “overweight” rating in a report on Wednesday, June 17th. Sanford C. Bernstein restated a “market perform” rating on shares of Cummins in a report on Friday, May 22nd. Evercore reaffirmed an “outperform” rating and issued a $845.00 price objective on shares of Cummins in a research report on Monday, May 11th. Robert W. Baird set a $700.00 price objective on shares of Cummins in a research note on Wednesday, May 6th. Finally, UBS Group reissued a “buy” rating on shares of Cummins in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $738.00.

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.