Meeder Asset Management Inc. Sells 9,232 Shares of Cummins Inc. $CMI

Meeder Asset Management Inc. decreased its position in shares of Cummins Inc. (NYSE:CMI) by 56.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,042 shares of the company’s stock after selling 9,232 shares during the quarter. Meeder Asset Management Inc.’s holdings in Cummins were worth $3,789,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its stake in Cummins by 10,317.7% during 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 purchasing an additional 2,434,876 shares during the last quarter. Norges Bank acquired a new stake in shares of Cummins in the 4th quarter valued at $863,441,000. Boston Partners bought a new position in shares of Cummins in the 3rd quarter valued at $473,471,000. SG Americas Securities LLC raised its holdings in shares of Cummins by 257.9% during the 1st quarter. SG Americas Securities LLC now owns 736,670 shares of the company’s stock worth $396,343,000 after buying an additional 530,812 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Cummins by 245.1% during the 4th quarter. First Trust Advisors LP now owns 542,796 shares of the company’s stock worth $277,071,000 after buying an additional 385,525 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Trending Headlines about 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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CMI shares. Raymond James Financial raised their price objective on Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a research note on Tuesday, May 26th. Zacks Research downgraded Cummins from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Truist Financial increased their target price on shares of Cummins from $815.00 to $901.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Barclays raised their price target on shares of Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley lifted their price target on shares of Cummins from $752.00 to $761.00 and gave the company an “overweight” rating in a report on Friday. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $740.07.

Insider Activity at Cummins

In other news, EVP Bonnie J. Fetch sold 652 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $700.19, for a total value of $456,523.88. Following the completion of the transaction, the executive vice president owned 11,679 shares of the company’s stock, valued at $8,177,519.01. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Nathan R. Stoner sold 607 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $694.06, for a total transaction of $421,294.42. Following the completion of the transaction, the vice president owned 9,447 shares of the company’s stock, valued at approximately $6,556,784.82. This trade represents a 6.04% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 13,579 shares of company stock valued at $9,377,684. Corporate insiders own 0.30% of the company’s stock.

Cummins Stock Down 0.1%

Shares of CMI opened at $647.67 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. Cummins Inc. has a 52 week low of $344.02 and a 52 week high of $737.76. The stock has a market capitalization of $89.37 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 1.58 and a beta of 1.22. The stock has a fifty day moving average of $677.02 and a 200-day moving average of $614.96.

Cummins (NYSE:CMI) last issued its quarterly earnings data 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. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the previous year, the company posted $5.96 EPS. Cummins’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cummins Inc. will post 29.34 earnings per share for the current fiscal year.

Cummins Increases Dividend

The company 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 dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, August 21st. This is a positive change 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%. Cummins’s payout ratio is 41.52%.

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.