SEB Asset Management AB Takes $22.09 Million Position in Cummins Inc. $CMI

SEB Asset Management AB acquired a new position in shares of Cummins Inc. (NYSE:CMI) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 41,057 shares of the company’s stock, valued at approximately $22,089,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Cummins by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock worth $9,058,841,000 after purchasing an additional 98,544 shares during the period. State Street Corp boosted its holdings in shares of Cummins by 0.8% in the 4th quarter. State Street Corp now owns 6,509,852 shares of the company’s stock valued at $3,322,954,000 after buying an additional 49,628 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Cummins by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 3,584,466 shares of the company’s stock valued at $1,822,534,000 after buying an additional 35,286 shares during the period. Fisher Asset Management LLC grew its position in shares of Cummins by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 3,410,723 shares of the company’s stock valued at $1,741,004,000 after buying an additional 43,722 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Cummins by 10,317.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock valued at $1,254,929,000 after buying an additional 2,434,876 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Buying and Selling

In related news, VP Jennifer Mary Bush sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total value of $3,481,050.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Donald G. Jackson sold 730 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $710.92, for a total transaction of $518,971.60. Following the sale, the vice president owned 8,316 shares of the company’s stock, valued at $5,912,010.72. The trade was a 8.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 13,579 shares of company stock worth $9,377,684 in the last ninety days. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CMI shares. JPMorgan Chase & Co. raised their target price on shares of Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Zacks Research cut Cummins from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Robert W. Baird set a $700.00 target price on Cummins in a research note on Wednesday, May 6th. Weiss Ratings lowered Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Finally, Evercore reissued an “outperform” rating and issued a $845.00 price target on shares of Cummins in a research note on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Cummins presently has an average rating of “Moderate Buy” and an average price target of $740.07.

Cummins Stock Performance

Shares of NYSE CMI opened at $647.67 on Monday. The stock has a fifty day moving average price of $677.02 and a two-hundred day moving average price of $614.96. 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 firm 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. Cummins Inc. has a 1 year low of $344.02 and a 1 year high of $737.76.

Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.96 EPS. Research analysts forecast that Cummins Inc. will post 29.34 EPS for the current fiscal year.

Cummins Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be given a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 1.4%. This is a boost from Cummins’s previous quarterly dividend of $2.00. 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

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.