Westfield Capital Management Co. LP Invests $7.80 Million in Cummins Inc. $CMI

Westfield Capital Management Co. LP purchased a new position in Cummins Inc. (NYSE:CMI) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 15,274 shares of the company’s stock, valued at approximately $7,797,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vise Technologies Inc. boosted its position in shares of Cummins by 27.8% in the 4th quarter. Vise Technologies Inc. now owns 8,795 shares of the company’s stock worth $4,489,000 after purchasing an additional 1,914 shares during the last quarter. Continuum Advisory LLC bought a new position in shares of Cummins in the 4th quarter worth $239,000. Daiwa Securities Group Inc. boosted its position in shares of Cummins by 10.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 23,891 shares of the company’s stock worth $12,195,000 after purchasing an additional 2,233 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Cummins by 18.5% in the 4th quarter. Sivia Capital Partners LLC now owns 1,598 shares of the company’s stock worth $816,000 after purchasing an additional 250 shares during the last quarter. Finally, Lido Advisors LLC boosted its position in shares of Cummins by 0.8% in the 4th quarter. Lido Advisors LLC now owns 17,067 shares of the company’s stock worth $8,712,000 after purchasing an additional 133 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.

Key Stories 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 Transactions at Cummins

In other Cummins news, insider Brett Michael Merritt sold 701 shares of Cummins stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $688.75, for a total value of $482,813.75. Following the sale, the insider owned 10,404 shares of the company’s stock, valued at $7,165,755. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the sale, the vice president directly owned 8,316 shares in the company, valued at $5,912,010.72. This represents a 8.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CMI shares. Citigroup lifted their target price on Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings lowered Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Zacks Research upgraded Cummins from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Morgan Stanley lifted their target price on Cummins from $675.00 to $752.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, UBS Group set a $565.00 target price on Cummins and gave the stock a “neutral” rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $705.79.

Cummins Stock Performance

CMI stock opened at $651.38 on Friday. The business’s 50-day moving average price is $635.72 and its two-hundred day moving average price is $576.59. 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 firm has a market cap of $89.88 billion, a PE ratio of 33.80, a P/E/G ratio of 1.66 and a beta of 1.23. Cummins Inc. has a 1-year low of $307.90 and a 1-year high of $718.08.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (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 firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter last year, the business posted $5.96 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, research analysts forecast that Cummins Inc. will post 29.29 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders 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 dividend payout ratio (DPR) is currently 41.52%.

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.