Wharton Business Group LLC Sells 880 Shares of Cummins Inc. $CMI

Wharton Business Group LLC decreased its position in Cummins Inc. (NYSE:CMI) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,026 shares of the company’s stock after selling 880 shares during the quarter. Cummins makes up 1.0% of Wharton Business Group LLC’s portfolio, making the stock its 24th biggest position. Wharton Business Group LLC’s holdings in Cummins were worth $26,557,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Thompson Investment Management Inc. purchased a new stake in shares of Cummins in the fourth quarter worth $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. Wellington Shields Capital Management LLC purchased a new stake in shares of Cummins in the fourth quarter worth $27,000. Ares Financial Consulting LLC purchased a new stake in shares of Cummins in the fourth quarter worth $29,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Cummins in the second quarter worth $31,000. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CMI. Wells Fargo & Company increased their target price on Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. UBS Group set a $565.00 target price on Cummins and gave the stock a “neutral” rating in a research note on Friday, February 6th. Citigroup increased their target price on Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Zacks Research raised Cummins from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings cut Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $705.79.

Cummins Trading Down 3.9%

Cummins stock opened at $651.38 on Friday. 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 one year low of $307.90 and a one year high of $718.08. The stock has a market capitalization of $89.88 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 1.66 and a beta of 1.23. The business’s fifty day moving average is $635.72 and its 200 day moving average is $576.59.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $8.37 billion. During the same period last year, the firm posted $5.96 earnings per share. Cummins’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Cummins Inc. will post 29.29 EPS for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were given a dividend of $2.00 per share. 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 dividend payout ratio (DPR) is 41.52%.

Key Headlines Impacting Cummins

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 Activity at Cummins

In related news, VP Nathan R. Stoner sold 607 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $694.06, for a total transaction of $421,294.42. Following the sale, the vice president directly owned 9,447 shares of the company’s stock, valued at $6,556,784.82. This trade represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jennifer Mary Bush sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $696.21, for a total value of $3,481,050.00. Following the completion of the transaction, the vice president directly owned 11,986 shares in the company, valued at $8,344,773.06. The trade was a 29.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,579 shares of company stock valued at $9,377,684 over the last three months. 0.30% of the stock is owned by insiders.

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.