TD Asset Management Inc Lowers Stock Holdings in Cummins Inc. $CMI

TD Asset Management Inc decreased its position in shares of Cummins Inc. (NYSE:CMI) by 9.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 74,908 shares of the company’s stock after selling 7,921 shares during the quarter. TD Asset Management Inc’s holdings in Cummins were worth $38,237,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CMI. Thompson Investment Management Inc. purchased a new position in shares of Cummins during the 4th quarter valued at $26,000. Activest Wealth Management lifted its stake in shares of Cummins by 537.5% during the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after buying an additional 43 shares in the last quarter. Wellington Shields Capital Management LLC purchased a new position in shares of Cummins during the 4th quarter valued at $27,000. Ares Financial Consulting LLC purchased a new position in shares of Cummins during the 4th quarter valued at $29,000. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Cummins during the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins News Summary

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?

Insider Transactions at Cummins

In other news, insider Brett Michael Merritt sold 701 shares of the business’s stock in a transaction dated 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 $7,165,755. The trade was a 6.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Nathan R. Stoner sold 607 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $694.06, for a total transaction of $421,294.42. Following the completion of the sale, the vice president owned 9,447 shares in the company, valued at approximately $6,556,784.82. This trade represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is currently owned by corporate insiders.

Cummins Stock Performance

Shares of NYSE CMI opened at $651.38 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. The company has a market cap of $89.88 billion, a P/E ratio of 33.80, a P/E/G ratio of 1.59 and a beta of 1.23. The firm’s fifty day moving average is $635.72 and its two-hundred day moving average is $576.59. Cummins Inc. has a 52-week low of $307.90 and a 52-week high of $718.08.

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

Cummins Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on CMI shares. Robert W. Baird set a $700.00 price target on shares of Cummins in a report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price target on shares of Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings downgraded shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Barclays lifted their price target on shares of Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Raymond James Financial lifted their price target on shares of Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $705.79.

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.