Fjarde AP Fonden Fourth Swedish National Pension Fund Has $16.08 Million Stock Holdings in Cummins Inc. $CMI

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in Cummins Inc. (NYSE:CMI) by 6.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 31,495 shares of the company’s stock after selling 2,280 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cummins were worth $16,077,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CMI. Northwestern Mutual Wealth Management Co. boosted its position in shares of Cummins by 10,317.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock worth $1,254,929,000 after buying an additional 2,434,876 shares during the period. Norges Bank acquired a new stake in shares of Cummins in the fourth quarter worth $863,441,000. Boston Partners acquired a new stake in shares of Cummins in the third quarter worth $473,471,000. London Co. of Virginia acquired a new stake in shares of Cummins in the third quarter worth $231,732,000. Finally, Nordea Investment Management AB boosted its position in shares of Cummins by 103.8% in the fourth quarter. Nordea Investment Management AB now owns 546,540 shares of the company’s stock worth $280,397,000 after buying an additional 278,350 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Cummins Trading Down 3.9%

NYSE CMI opened at $651.38 on Friday. Cummins Inc. has a 1-year low of $307.90 and a 1-year high of $718.08. 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 company has a market capitalization of $89.88 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 1.59 and a beta of 1.23. The firm’s fifty day simple moving average is $635.72 and its 200-day simple moving average is $576.59.

Cummins (NYSE:CMI) last posted its quarterly 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. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. Cummins’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $5.96 earnings per share. As a group, sell-side analysts anticipate that Cummins Inc. will post 29.29 earnings per share for the current fiscal year.

Cummins Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CMI. Evercore reaffirmed an “outperform” rating and issued a $845.00 target price on shares of Cummins in a research report on Monday, May 11th. Wells Fargo & Company raised their target price on Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Raymond James Financial raised their target price on Cummins from $675.00 to $745.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 26th. Argus upped their price target on shares of Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Finally, Weiss Ratings downgraded shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Cummins currently has a consensus rating of “Moderate Buy” and an average price target of $705.79.

Insider Activity

In other Cummins news, insider Brett Michael Merritt sold 701 shares of the stock in a transaction 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 transaction, the insider directly owned 10,404 shares of the company’s stock, valued at $7,165,755. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Donald G. Jackson sold 730 shares of the stock in a transaction 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 transaction, the vice president directly owned 8,316 shares in the company, 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. Over the last three months, insiders sold 13,579 shares of company stock valued at $9,377,684. Corporate insiders own 0.30% of the company’s stock.

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?

Cummins Company 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.