Swiss Life Asset Management Ltd Grows Stock Holdings in Cummins Inc. $CMI

Key Points

• Swiss Life Asset Management increased its Cummins stake by 9.0% in the fourth quarter, ending with 42,454 shares valued at about $21.7 million. The article also notes that institutional ownership remains high at 83.46%.
• Cummins posted strong fiscal Q1 results, with EPS of $6.15 beating estimates by $0.52 and revenue of $8.40 billion topping forecasts. Revenue rose 2.7% year over year, reinforcing bullish sentiment around earnings power.
• Analysts remain constructive on the stock after earnings, with several raising price targets and the consensus rating sitting at Moderate Buy. At the same time, multiple executives sold shares recently, which could slightly pressure sentiment.

Swiss Life Asset Management Ltd grew its holdings in Cummins Inc. (NYSE:CMI - Free Report) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,454 shares of the company's stock after acquiring an additional 3,504 shares during the period. Swiss Life Asset Management Ltd's holdings in Cummins were worth $21,671,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CMI. Brighton Jones LLC boosted its holdings in shares of Cummins by 4.1% in the 4th quarter. Brighton Jones LLC now owns 2,112 shares of the company's stock valued at $736,000 after acquiring an additional 83 shares during the last quarter. Intech Investment Management LLC boosted its holdings 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 valued at $1,240,000 after acquiring an additional 1,146 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings 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 valued at $21,055,000 after acquiring an additional 1,759 shares during the last quarter. ICW Investment Advisors LLC purchased a new stake in Cummins during the second quarter worth $225,000. Finally, Osterweis Capital Management Inc. purchased a new stake in Cummins during the second quarter worth $31,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Price Performance

Shares of NYSE CMI opened at $701.70 on Tuesday. The firm has a 50-day simple moving average of $590.90 and a 200-day simple moving average of $547.40. The stock has a market capitalization of $96.83 billion, a price-to-earnings ratio of 36.41, a price-to-earnings-growth ratio of 1.71 and a beta of 1.27. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. Cummins Inc. has a 52 week low of $307.90 and a 52 week high of $718.08.

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

Insider Transactions at Cummins

In related news, EVP Bonnie J. Fetch sold 652 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $700.19, for a total value of $456,523.88. Following the completion of the sale, the executive vice president owned 11,679 shares of the company's stock, valued at approximately $8,177,519.01. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Nathan R. Stoner sold 607 shares of the 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 transaction, the vice president directly owned 9,447 shares of the company's stock, valued at approximately $6,556,784.82. This trade represents a 6.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 34,073 shares of company stock valued at $20,794,687 in the last three months. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on CMI. Truist Financial set a $815.00 price target on shares of Cummins in a report on Wednesday, May 6th. JPMorgan Chase & Co. increased their price target on shares of Cummins from $600.00 to $725.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Robert W. Baird set a $700.00 price target on shares of Cummins in a report on Wednesday, May 6th. Sanford C. Bernstein set a $600.00 price target on shares of Cummins and gave the stock a "market perform" rating in a report on Friday, February 6th. Finally, UBS Group set a $565.00 price target on shares of Cummins and gave the stock a "neutral" rating in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Cummins presently has a consensus rating of "Moderate Buy" and an average target price of $677.87.

Key Cummins News

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Cummins reported strong fiscal Q1 results last week, with EPS of $6.15 beating estimates by $0.52 and revenue of $8.40 billion slightly ahead of expectations, reinforcing confidence in the company’s earnings power. Cummins insider trades and earnings update
• Positive Sentiment: Several analysts raised their price targets after the earnings report, including Barclays and Citigroup, and Zacks upgraded the stock to a strong-buy rating, which may be helping investor sentiment. Wells Fargo remains a buy on Cummins
• Neutral Sentiment: Institutional ownership remains high, and recent buying by some funds suggests continued long-term interest in the stock, though this is less likely to drive the shares in the short term.
• Negative Sentiment: Multiple Cummins executives sold shares this week, including VP Nathan Stoner, EVP Bonnie Fetch, and VP Marvin Boakye. While these sales were relatively small versus their holdings, insider selling can sometimes weigh on market sentiment. Nathan Stoner sold shares Bonnie Fetch sold shares

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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