Elevation Point Wealth Partners LLC Has $4.75 Million Holdings in Cummins Inc. $CMI

Elevation Point Wealth Partners LLC grew its stake in Cummins Inc. (NYSE:CMI) by 638.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,820 shares of the company’s stock after purchasing an additional 7,625 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Cummins were worth $4,746,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thompson Investment Management Inc. bought a new stake in Cummins in the fourth quarter valued at $26,000. Activest Wealth Management raised its stake in Cummins by 537.5% during the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after acquiring an additional 43 shares in the last quarter. Wellington Shields Capital Management LLC bought a new position in shares of Cummins during the fourth quarter valued at $27,000. Key Financial Inc boosted its stake in shares of Cummins by 62.5% in the 1st quarter. Key Financial Inc now owns 52 shares of the company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Finally, Birchwood Financial Partners Inc. acquired a new stake in shares of Cummins in the 4th quarter valued at $28,000. Institutional investors own 83.46% of the company’s stock.

More Cummins News

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Truist Financial raised its price target on Cummins to $901 from $815 and kept a buy rating, implying substantial upside from the current share price. This kind of target increase can support investor confidence. Benzinga article
• Positive Sentiment: Zacks Research raised earnings estimates across multiple periods for Cummins, including Q1 2027, Q2 2027, Q3 2027, Q4 2027, and FY2027, while reiterating a Strong-Buy view. Higher earnings forecasts often signal stronger expected business performance.
• Positive Sentiment: Cummins was also added to Zacks’ Rank #1 Strong Buy lists, including a July income-stock screen, reinforcing the recent bullish sentiment from analysts. Zacks article
• Neutral Sentiment: A separate Zacks article compared Cummins’ stock performance with other auto/tires/trucks names this year, but it did not introduce a direct catalyst on its own. Zacks article

Insider Transactions at Cummins

In other news, insider Brett Michael Merritt sold 701 shares of the business’s 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 directly owned 10,404 shares in the company, valued at $7,165,755. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Marvin Boakye sold 3,481 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $679.90, for a total value of $2,366,731.90. Following the transaction, the vice president directly owned 8,508 shares of the company’s stock, valued at $5,784,589.20. This represents a 29.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 13,579 shares of company stock worth $9,377,684. Company insiders own 0.30% of the company’s stock.

Cummins Stock Performance

CMI stock opened at $662.21 on Friday. Cummins Inc. has a twelve month low of $325.25 and a twelve month high of $737.76. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The company has a market cap of $91.38 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 1.62 and a beta of 1.22. The business’s fifty day moving average is $677.56 and its 200-day moving average is $603.61.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.52. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $5.96 earnings per share. Equities research analysts forecast that Cummins Inc. will post 29.32 EPS for the current year.

Cummins Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CMI. Evercore reiterated an “outperform” rating and issued a $845.00 target price on shares of Cummins in a research note on Monday, May 11th. Citigroup increased their price target on Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings downgraded Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research report 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, JPMorgan Chase & Co. increased their target price on Cummins from $600.00 to $725.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $738.00.

About Cummins

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.