Cummins Inc. $CMI Stock Holdings Lifted by QRG Capital Management Inc.

QRG Capital Management Inc. increased its position in shares of Cummins Inc. (NYSE:CMI) by 13.2% during the first quarter, Holdings Channel reports. The fund owned 57,016 shares of the company’s stock after acquiring an additional 6,664 shares during the quarter. QRG Capital Management Inc.’s holdings in Cummins were worth $30,676,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CMI. 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. Wellington Shields Capital Management LLC acquired a new stake in shares of Cummins in the fourth quarter worth $27,000. 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. Finally, Birchwood Financial Partners Inc. acquired a new position in Cummins during the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CMI. JPMorgan Chase & Co. increased their price objective on Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Zacks Research upgraded Cummins from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Citigroup increased their price target on shares of Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Raymond James Financial raised their price target on shares of Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Cummins in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $738.00.

Insiders Place Their Bets

In related news, VP Nathan R. Stoner sold 607 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $694.06, for a total value of $421,294.42. Following the transaction, the vice president owned 9,447 shares in the company, valued at approximately $6,556,784.82. This represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction, the insider directly owned 10,404 shares in the company, valued at approximately $7,165,755. The trade was a 6.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,579 shares of company stock worth $9,377,684 in the last quarter. Corporate insiders own 0.30% of the company’s stock.

Cummins News Summary

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 stock has a market cap of $91.38 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 1.62 and a beta of 1.22. Cummins Inc. has a 1 year low of $325.25 and a 1 year high of $737.76. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average price of $677.56 and a 200 day moving average price of $603.61.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the company posted $5.96 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts forecast that Cummins Inc. will post 29.32 EPS for the current fiscal year.

Cummins Announces Dividend

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

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.