Fisher Asset Management LLC Increases Position in Cummins Inc. $CMI

Key Points

• Fisher Asset Management increased its Cummins stake by 1.3% in the fourth quarter, ending with 3.41 million shares worth about $1.74 billion, or roughly 2.47% of the company.
• Several other institutional investors also added to or initiated positions in Cummins, and 83.46% of the stock is now held by hedge funds and other institutions.
• Analyst sentiment remains positive overall: Cummins has a Moderate Buy consensus rating with an average price target of $677.87, while the company also recently beat quarterly earnings expectations and declared a $2.00 per share dividend.

Fisher Asset Management LLC grew its stake in Cummins Inc. (NYSE:CMI - Free Report) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,410,723 shares of the company's stock after acquiring an additional 43,722 shares during the quarter. Fisher Asset Management LLC owned about 2.47% of Cummins worth $1,741,004,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CMI. Brighton Jones LLC boosted its position in shares of Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company's stock worth $736,000 after purchasing an additional 83 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of Cummins by 40.8% in the 1st quarter. Intech Investment Management LLC now owns 3,956 shares of the company's stock worth $1,240,000 after purchasing an additional 1,146 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Cummins by 2.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 64,289 shares of the company's stock worth $21,055,000 after purchasing an additional 1,759 shares in the last quarter. ICW Investment Advisors LLC acquired a new stake in shares of Cummins in the 2nd quarter worth $225,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Cummins in the 2nd quarter worth $31,000. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wolfe Research cut Cummins from an "outperform" rating to a "peer perform" rating and set a $540.00 price objective for the company. in a research report on Monday, January 26th. Barclays raised their price objective on Cummins from $610.00 to $760.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. raised their price objective on Cummins from $600.00 to $725.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Zacks Research raised Cummins from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Finally, Weiss Ratings cut Cummins from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Cummins presently has a consensus rating of "Moderate Buy" and an average price target of $677.87.

More Cummins News

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Zacks Research raised multiple earnings forecasts for Cummins, including FY2026 to $29.28 per share, FY2027 to $31.73, and FY2028 to $35.32, while maintaining a Strong-Buy rating. Cummins stock page
• Positive Sentiment: The analyst also lifted near-term quarterly estimates across 2026 and 2027, suggesting expectations for sustained earnings momentum rather than a one-quarter boost. Cummins stock page
• Positive Sentiment: At its investor day, Cummins said it is raising its 2030 financial targets and announced large-engine capacity and product investments, signaling confidence in future growth and profitability. Business Wire article
• Positive Sentiment: Coverage of the investor event also highlighted how Cummins is positioning itself for opportunities tied to the AI boom, which may have helped sentiment around the stock. Barron’s article

Cummins Stock Performance

Shares of CMI opened at $640.41 on Monday. The stock has a 50-day moving average of $612.02 and a two-hundred day moving average of $563.41. Cummins Inc. has a one year low of $307.90 and a one year high of $718.08. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. The stock has a market cap of $88.37 billion, a P/E ratio of 33.23, a P/E/G ratio of 1.58 and a beta of 1.27.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter in the previous year, the firm posted $5.96 EPS. The firm's revenue was up 2.7% compared to the same quarter last year. As a group, research analysts predict that Cummins Inc. will post 28.93 EPS for the current year.

Cummins Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $8.00 dividend on an annualized basis and a yield of 1.2%. Cummins's payout ratio is currently 41.52%.

Insider Activity at Cummins

In other Cummins news, VP Nathan R. Stoner sold 607 shares of Cummins stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $694.06, for a total transaction of $421,294.42. Following the completion of the sale, the vice president owned 9,447 shares of the company's stock, valued at approximately $6,556,784.82. The trade was a 6.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bonnie J. Fetch sold 652 shares of Cummins stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $700.19, for a total value of $456,523.88. Following the sale, the executive vice president directly owned 11,679 shares of the company's stock, valued at approximately $8,177,519.01. This represents a 5.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,233 shares of company stock worth $12,613,565 in the last quarter. 0.30% of the stock is owned by insiders.

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.

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