Atria Investments Inc Has $8.41 Million Stake in Cummins Inc. $CMI

Key Points

• Atria Investments Inc. increased its Cummins stake by 25.9% in the fourth quarter, ending with 16,481 shares valued at about $8.41 million.
• Cummins reported a strong quarterly beat, posting EPS of $6.15 on $8.40 billion in revenue, both above analyst expectations, while revenue rose 2.7% year over year.
• The company also highlighted shareholder-friendly actions and positive sentiment, including a $2.00 quarterly dividend and multiple analyst target increases, even as some insiders recently sold shares.

Atria Investments Inc grew its holdings in shares of Cummins Inc. (NYSE:CMI - Free Report) by 25.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,481 shares of the company's stock after buying an additional 3,390 shares during the period. Atria Investments Inc's holdings in Cummins were worth $8,413,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Thompson Investment Management Inc. bought a new position in shares of Cummins in the 4th quarter worth $26,000. Activest Wealth Management raised its holdings 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 buying an additional 43 shares during the last quarter. Flagship Wealth Advisors LLC bought a new position in shares of Cummins in the third quarter valued at $28,000. Ares Financial Consulting LLC bought a new position in shares of Cummins in the fourth quarter valued at $29,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Cummins in the 2nd quarter worth about $31,000. Institutional investors own 83.46% of the company's stock.

Cummins News Summary

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Cummins’ latest earnings beat expectations, with EPS of $6.15 on revenue of $8.40 billion, reinforcing confidence in the company’s operating momentum and supporting the stock. Cummins stock report
• Positive Sentiment: Analysts have turned more constructive, with Citigroup, Barclays, and Evercore raising targets, while Zacks upgraded Cummins to “strong-buy,” which can lift investor sentiment. Cummins price target raised article
• Positive Sentiment: The company declared a quarterly dividend of $2.00 per share, underscoring shareholder returns and adding to the stock’s income appeal.
• Positive Sentiment: Shareholders approved the board, pay package, and incentive plan at the annual meeting, signaling governance continuity and support for management. Cummins Shareholders Back Board, Pay and Incentive Plan
• Neutral Sentiment: One Cummins vice president sold shares, and several other insider sales were reported this week; while not necessarily a red flag, the activity may slightly temper enthusiasm.
• Neutral Sentiment: Recent articles discussing Cummins’ momentum and relative performance versus industrial peers are more commentary than fresh catalysts. Relative performance article

Insider Buying and Selling

In other news, VP Nathan R. Stoner sold 607 shares of the company's stock in a transaction dated 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 directly owned 9,447 shares of the company's stock, valued at approximately $6,556,784.82. This represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Donald G. Jackson sold 730 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $710.92, for a total transaction of $518,971.60. Following the sale, the vice president owned 8,316 shares of the company's stock, valued at approximately $5,912,010.72. This represents a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,397 shares of company stock worth $14,465,833 in the last ninety days. 0.30% of the stock is currently owned by insiders.

Cummins Stock Up 0.8%

CMI stock opened at $715.33 on Friday. The company's 50 day moving average is $599.02 and its 200 day moving average is $553.62. The stock has a market cap of $98.71 billion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27. The company has a current ratio of 1.71, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. Cummins Inc. has a 1-year low of $307.90 and a 1-year high of $718.08.

Cummins (NYSE:CMI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.63 by $0.52. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.96 EPS. Sell-side analysts predict that Cummins Inc. will post 28.39 EPS for the current fiscal year.

Cummins Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd will be paid a $2.00 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $8.00 annualized dividend and a yield of 1.1%. Cummins's dividend payout ratio is currently 41.52%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Truist Financial set a $815.00 price objective on Cummins in a report on Wednesday, May 6th. Sanford C. Bernstein set a $600.00 target price on Cummins and gave the company a "market perform" rating in a research report on Friday, February 6th. Weiss Ratings cut shares of Cummins from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, May 6th. Wall Street Zen downgraded Cummins from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 8th. Finally, Morgan Stanley lifted their target price on Cummins from $675.00 to $752.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $677.87.

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.

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