New York State Teachers Retirement System Acquires 2,734 Shares of Cummins Inc. $CMI

New York State Teachers Retirement System increased its holdings in Cummins Inc. (NYSE:CMI) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,532 shares of the company’s stock after acquiring an additional 2,734 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Cummins worth $62,159,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Cummins by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 17,746,775 shares of the company’s stock valued at $9,058,841,000 after purchasing an additional 98,544 shares during the period. State Street Corp lifted its position 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 worth $3,322,954,000 after purchasing an additional 49,628 shares during the period. Geode Capital Management LLC lifted its position 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 worth $1,822,534,000 after purchasing an additional 35,286 shares during the period. Fisher Asset Management LLC boosted its stake 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 purchasing an additional 43,722 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake 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 purchasing an additional 2,434,876 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CMI shares. Barclays increased their price target on shares of Cummins from $610.00 to $760.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Morgan Stanley lifted their price objective on Cummins from $675.00 to $752.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Argus upped their target price on Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Citigroup increased their target price on Cummins from $710.00 to $770.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Cummins in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $738.00.

Key Stories Impacting Cummins

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, VP Jennifer Mary Bush sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was 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 of the company’s stock, valued at $8,344,773.06. The trade was a 29.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brett Michael Merritt sold 701 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $688.75, for a total value of $482,813.75. Following the completion of the sale, the insider owned 10,404 shares in the company, valued at $7,165,755. The trade was a 6.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over 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 Up 0.1%

Shares of Cummins stock opened at $662.21 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. The company has a 50-day moving average of $677.56 and a 200 day moving average of $603.61. The firm has a market cap of $91.38 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 1.62 and a beta of 1.22. Cummins Inc. has a 1 year low of $325.25 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 the consensus estimate of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. 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 firm posted $5.96 earnings per share. Cummins’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Cummins Inc. will post 29.32 earnings per share for the current fiscal year.

Cummins Announces Dividend

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