Cummins Inc. $CMI Stock Bought by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP increased its stake in Cummins Inc. (NYSE:CMI) by 542.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,092 shares of the company’s stock after acquiring an additional 6,832 shares during the period. Fulcrum Asset Management LLP’s holdings in Cummins were worth $4,219,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Cummins by 53.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 102,532 shares of the company’s stock valued at $53,009,000 after purchasing an additional 35,626 shares in the last quarter. Beverly Hills Private Wealth LLC lifted its position in shares of Cummins by 29.9% during the 3rd quarter. Beverly Hills Private Wealth LLC now owns 1,035 shares of the company’s stock worth $535,000 after purchasing an additional 238 shares during the last quarter. Almanack Investment Partners LLC. lifted its position in shares of Cummins by 6.7% during the 3rd quarter. Almanack Investment Partners LLC. now owns 447 shares of the company’s stock worth $231,000 after purchasing an additional 28 shares during the last quarter. M Holdings Securities Inc. acquired a new position in shares of Cummins during the third quarter worth $346,000. Finally, Uhlmann Price Securities LLC grew its stake in shares of Cummins by 42.1% during the third quarter. Uhlmann Price Securities LLC now owns 1,012 shares of the company’s stock worth $523,000 after purchasing an additional 300 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cummins

In related news, VP Earl Newsome sold 698 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $572.22, for a total value of $399,409.56. Following the sale, the vice president directly owned 4,479 shares of the company’s stock, valued at $2,562,973.38. This represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is owned by corporate insiders.

Trending Headlines about Cummins

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: AI data-center power demand and a strong order backlog could support growth. However, supply constraints may limit the company’s ability to meet demand. Zacks article
• Neutral Sentiment: Barclays cut its price target to $600 from $675 but maintained an Overweight rating, indicating it still sees potential upside from the referenced share price. Barclays rating information
• Neutral Sentiment: Oppenheimer maintained its Hold rating, while Wells Fargo, Citigroup and Truist also reduced their price targets; the reports provided do not specify the new targets. Oppenheimer rating Wells Fargo target report Citigroup target report Truist target report
• Negative Sentiment: JPMorgan lowered its target sharply, from $600 to $465, and moved to a Neutral rating. The bank’s target is approximately in line with the referenced share price. JPMorgan rating information
• Negative Sentiment: An analysis cited cuts to fair value estimates as analysts trimmed growth and margin expectations. Truck-market weakness is another concern alongside supply constraints. Yahoo Finance article

Cummins Stock Performance

Cummins stock opened at $466.73 on Tuesday. Cummins Inc. has a fifty-two week low of $443.62 and a fifty-two week high of $737.76. The company has a market capitalization of $64.25 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.24 and a beta of 1.26. The stock has a fifty day moving average of $524.50 and a two-hundred day moving average of $599.03. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.13 and a current ratio of 1.73.

Cummins (NYSE:CMI) last released its earnings results on Thursday, November 5th. The company reported $8.25 EPS for the quarter, topping the consensus estimate of $8.20 by $0.05. Cummins had a net margin of 7.82% and a return on equity of 25.29%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.89 billion. During the same period in the previous year, the company earned $5.59 EPS. Cummins’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, analysts anticipate that Cummins Inc. will post 29.98 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 20th will be issued a $2.20 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $8.80 dividend on an annualized basis and a yield of 1.9%. Cummins’s dividend payout ratio is currently 36.73%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CMI shares. JPMorgan Chase & Co. lowered their target price on shares of Cummins from $600.00 to $465.00 and set a “neutral” rating for the company in a report on Friday. Morgan Stanley increased their price target on shares of Cummins from $752.00 to $761.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Citigroup reduced their target price on Cummins from $630.00 to $525.00 and set a “buy” rating for the company in a report on Friday. Weiss Ratings downgraded Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, August 31st. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $700.00 price objective on shares of Cummins in a research note on Wednesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $662.18.

About Cummins

Cummins Inc is a global power technology company founded in 1919 and headquartered in Columbus, Indiana. It designs, manufactures, distributes and services products used in commercial vehicles, industrial equipment, power generation and other applications.

The company’s offerings include diesel and natural gas engines, power generation systems, and components such as filtration, turbochargers and emissions-control systems. Through its Accelera business, Cummins also develops technologies including batteries, fuel cells and electrolyzers for lower-emission power and transportation.

Cummins serves customers in markets around the world through manufacturing operations, distribution networks and service locations.