Independent Financial Group LLC Takes $1.55 Million Position in Cummins Inc. $CMI

Independent Financial Group LLC purchased a new position in Cummins Inc. (NYSE:CMI) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,877 shares of the company’s stock, valued at approximately $1,548,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thompson Investment Management Inc. purchased a new position in Cummins during the fourth quarter valued at $26,000. Activest Wealth Management grew its stake in shares of Cummins by 537.5% in the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after acquiring an additional 43 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Cummins by 1,500.0% in the first quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock worth $26,000 after acquiring an additional 45 shares during the last quarter. Wellington Shields Capital Management LLC bought a new position in shares of Cummins during the fourth quarter valued at $27,000. Finally, Key Financial Inc increased 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 acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Citigroup upped their price target on shares of Cummins from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. raised their price objective on shares of Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Cummins in a report on Friday, May 22nd. Zacks Research downgraded shares of Cummins from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Raymond James Financial increased 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. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $740.07.

Insider Transactions at Cummins

In other news, insider Brett Michael Merritt sold 701 shares of the business’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 completion of the transaction, the insider directly owned 10,404 shares of the company’s stock, valued at $7,165,755. The trade was a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald G. Jackson sold 730 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $710.92, for a total transaction of $518,971.60. Following the transaction, the vice president owned 8,316 shares in the company, valued at approximately $5,912,010.72. This trade represents a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 13,579 shares of company stock valued at $9,377,684. Company insiders own 0.30% of the company’s stock.

Cummins Trading Down 0.1%

Shares of NYSE:CMI opened at $647.67 on Monday. 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 Inc. has a 1 year low of $344.02 and a 1 year high of $737.76. The company has a market cap of $89.37 billion, a P/E ratio of 33.61, a PEG ratio of 1.58 and a beta of 1.22. The stock’s fifty day moving average price is $677.02 and its 200-day moving average price is $614.96.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period last year, the company earned $5.96 EPS. Cummins’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts expect that Cummins Inc. will post 29.34 earnings per share for the current year.

Cummins Increases Dividend

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

Key Stories Impacting 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

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.