BI Asset Management Fondsmaeglerselskab A S Purchases 72,938 Shares of Cummins Inc. $CMI

BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Cummins Inc. (NYSE:CMI - Free Report) by 576.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,593 shares of the company's stock after acquiring an additional 72,938 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.06% of Cummins worth $43,691,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the business. Frank Rimerman Advisors LLC increased its holdings in shares of Cummins by 0.5% during the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company's stock valued at $1,908,000 after acquiring an additional 18 shares in the last quarter. Financial Consulate Inc. increased its holdings in shares of Cummins by 16.8% during the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company's stock valued at $64,000 after acquiring an additional 18 shares in the last quarter. ICW Investment Advisors LLC increased its holdings in shares of Cummins by 2.6% during the fourth quarter. ICW Investment Advisors LLC now owns 723 shares of the company's stock valued at $369,000 after acquiring an additional 18 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in shares of Cummins by 1.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company's stock valued at $947,000 after acquiring an additional 19 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC increased its holdings in shares of Cummins by 2.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 981 shares of the company's stock valued at $501,000 after acquiring an additional 20 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Key Cummins News

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 other Cummins news, 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 in the company, valued at $5,784,589.20. This represents a 29.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Nicole Lamb-Hale sold 2,408 shares of the company's stock in a transaction dated Friday, May 8th. The stock was 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 represents a 14.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is owned by corporate insiders.

Cummins Stock Performance

NYSE:CMI opened at $651.38 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. Cummins Inc. has a 52-week low of $307.90 and a 52-week high of $718.08. The firm has a market cap of $89.88 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 1.66 and a beta of 1.23. The business's fifty day moving average is $635.72 and its 200 day moving average is $576.59.

Cummins (NYSE:CMI - Get Free Report) last released 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. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the previous year, the company posted $5.96 EPS. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts predict that Cummins Inc. will post 29.29 EPS for the current year.

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were paid 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 is currently 41.52%.

Analyst Ratings Changes

Several research firms have recently commented on CMI. Citigroup boosted their price objective on Cummins from $710.00 to $770.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Wall Street Zen cut Cummins from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 8th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Cummins in a research report on Friday, May 22nd. Zacks Research raised Cummins from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Finally, UBS Group set a $565.00 target price on Cummins and gave the company a "neutral" rating in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $705.79.

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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