6,832 Cummins Inc. $CMI Shares Acquired by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management increased its Cummins stake by 542.2% in the third quarter, adding 6,832 shares to hold 8,092 shares worth about $4.22 million.
• Cummins reported quarterly EPS of $8.25, slightly above estimates, while revenue of $9.44 billion fell short of expectations; revenue rose 13.5% year over year.
• Analyst views are mixed: the consensus rating is “Moderate Buy,” but several firms have cut price targets. AI data-center power demand could support growth, while supply constraints and truck-market weakness pose risks.

Fulcrum Asset Management LLP lifted its stake in shares of Cummins Inc. (NYSE:CMI - Free Report) by 542.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,092 shares of the company's stock after acquiring an additional 6,832 shares during the period. Fulcrum Asset Management LLP's holdings in Cummins were worth $4,219,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Cummins during the second quarter worth about $8,204,241,000. Bank of America Corp DE purchased a new position in Cummins during the second quarter worth about $1,408,353,000. Bank of New York Mellon Corp acquired a new position in Cummins in the 2nd quarter valued at about $973,198,000. Robeco Institutional Asset Management B.V. boosted its holdings in Cummins by 6.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,026,782 shares of the company's stock valued at $530,405,000 after purchasing an additional 62,107 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in Cummins in the 2nd quarter valued at about $666,635,000. Institutional investors and hedge funds own 83.46% of the company's stock.

Trending Headlines about Cummins

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: AI data-center power demand and a strong order backlog could support growth. However, supply constraints may limit the company’s ability to meet demand. Zacks article
• Neutral Sentiment: Barclays cut its price target to $600 from $675 but maintained an Overweight rating, indicating it still sees potential upside from the referenced share price. Barclays rating information
• Neutral Sentiment: Oppenheimer maintained its Hold rating, while Wells Fargo, Citigroup and Truist also reduced their price targets; the reports provided do not specify the new targets. Oppenheimer rating Wells Fargo target report Citigroup target report Truist target report
• Negative Sentiment: JPMorgan lowered its target sharply, from $600 to $465, and moved to a Neutral rating. The bank’s target is approximately in line with the referenced share price. JPMorgan rating information
• Negative Sentiment: An analysis cited cuts to fair value estimates as analysts trimmed growth and margin expectations. Truck-market weakness is another concern alongside supply constraints. Yahoo Finance article

Insiders Place Their Bets

In related news, VP Earl Newsome sold 698 shares of Cummins stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $572.22, for a total value of $399,409.56. Following the completion of the sale, the vice president owned 4,479 shares in the company, valued at approximately $2,562,973.38. This trade represents a 13.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. DA Davidson raised their price target on shares of Cummins from $605.00 to $750.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Zacks Research cut Cummins from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. Wall Street Zen upgraded Cummins from a "hold" rating to a "buy" rating in a research report on Tuesday. Barclays cut their target price on Cummins from $675.00 to $600.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Truist Financial reduced their target price on Cummins from $779.00 to $637.00 and set a "buy" rating on the stock in a research report on Friday. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Cummins has an average rating of "Moderate Buy" and an average target price of $662.18.

Cummins Trading Up 3.7%

Shares of CMI stock opened at $466.73 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.73 and a quick ratio of 1.13. The firm has a market cap of $64.25 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.24 and a beta of 1.26. The company has a 50-day moving average of $524.50 and a two-hundred day moving average of $599.03. Cummins Inc. has a 1-year low of $443.62 and a 1-year high of $737.76.

Cummins (NYSE:CMI - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $8.25 earnings per share for the quarter, beating analysts' consensus estimates of $8.20 by $0.05. The business had revenue of $9.44 billion during the quarter, compared to analysts' expectations of $9.89 billion. Cummins had a net margin of 7.82% and a return on equity of 25.29%. The business's revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the business earned $5.59 earnings per share. On average, analysts predict that Cummins Inc. will post 29.98 EPS for the current year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 20th will be given a dividend of $2.20 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.9%. Cummins's dividend payout ratio (DPR) is presently 36.73%.

Cummins Profile

Cummins Inc is a global power technology company founded in 1919 and headquartered in Columbus, Indiana. It designs, manufactures, distributes and services products used in commercial vehicles, industrial equipment, power generation and other applications.

The company's offerings include diesel and natural gas engines, power generation systems, and components such as filtration, turbochargers and emissions-control systems. Through its Accelera business, Cummins also develops technologies including batteries, fuel cells and electrolyzers for lower-emission power and transportation.

Cummins serves customers in markets around the world through manufacturing operations, distribution networks and service locations.

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