Havemeyer Place LP Purchases New Stake in Cummins Inc. $CMI

Havemeyer Place LP purchased a new stake in Cummins Inc. (NYSE:CMI) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,301 shares of the company’s stock, valued at approximately $1,175,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thompson Investment Management Inc. bought a new position in Cummins in the fourth quarter valued at about $26,000. Activest Wealth Management grew its position in Cummins by 537.5% in the fourth quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after acquiring an additional 43 shares during the last quarter. Wellington Shields Capital Management LLC bought a new position in Cummins in the fourth quarter valued at about $27,000. Ares Financial Consulting LLC bought a new position in Cummins in the fourth quarter valued at about $29,000. Finally, Holos Integrated Wealth LLC bought a new position in Cummins in the fourth quarter valued at about $32,000. 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: 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?

Insiders Place Their Bets

In related news, CAO Nicole Lamb-Hale sold 2,408 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $685.34, for a total value of $1,650,298.72. Following the completion of the transaction, the chief accounting officer owned 14,084 shares in the company, valued at $9,652,328.56. This trade represents a 14.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Donald G. Jackson sold 730 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the sale, the vice president 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 disclosure for this sale is available in the SEC filing. Insiders have sold 13,579 shares of company stock worth $9,377,684 over the last quarter. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CMI shares. Wall Street Zen cut Cummins from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Argus lifted their target price on Cummins from $696.00 to $770.00 and gave the company a “buy” rating in a research report on Monday, June 1st. JPMorgan Chase & Co. lifted their target price on Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Robert W. Baird set a $700.00 target price on Cummins in a research report on Wednesday, May 6th. Finally, Barclays lifted their target price on Cummins from $610.00 to $760.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One 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 stock. Based on data from MarketBeat, Cummins currently has a consensus rating of “Moderate Buy” and an average price target of $705.79.

Cummins Stock Up 0.0%

Shares of NYSE CMI opened at $651.38 on Monday. The company has a 50 day simple moving average of $635.72 and a 200 day simple moving average of $577.44. The firm has a market cap 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. Cummins Inc. has a 1 year low of $307.90 and a 1 year high of $718.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. The business had revenue of $8.40 billion during 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 firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $5.96 EPS. On average, research analysts forecast that Cummins Inc. will post 29.29 EPS for the current year.

Cummins Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, May 22nd. Cummins’s dividend payout ratio (DPR) is 41.52%.

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.