New York State Teachers Retirement System Raises Position in Cummins Inc. $CMI

New York State Teachers Retirement System grew its position in shares of Cummins Inc. (NYSE:CMI) by 2.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,532 shares of the company’s stock after buying an additional 2,734 shares during the quarter. New York State Teachers Retirement System’s holdings in Cummins were worth $62,159,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thompson Investment Management Inc. purchased a new position in Cummins in the 4th quarter worth approximately $26,000. Activest Wealth Management boosted its stake in Cummins by 537.5% during the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after purchasing an additional 43 shares during the last quarter. Wellington Shields Capital Management LLC bought a new stake in shares of Cummins in the 4th quarter worth $27,000. Key Financial Inc increased its holdings in shares of Cummins by 62.5% in the 1st quarter. Key Financial Inc now owns 52 shares of the company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Finally, Birchwood Financial Partners Inc. purchased a new position in shares of Cummins in the fourth quarter worth $28,000. Institutional investors own 83.46% of the company’s stock.

Cummins News Roundup

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Truist Financial raised its price target on Cummins to $901 from $815 and kept a buy rating, implying substantial upside from the current share price. This kind of target increase can support investor confidence. Benzinga article
• Positive Sentiment: Zacks Research raised earnings estimates across multiple periods for Cummins, including Q1 2027, Q2 2027, Q3 2027, Q4 2027, and FY2027, while reiterating a Strong-Buy view. Higher earnings forecasts often signal stronger expected business performance.
• Positive Sentiment: Cummins was also added to Zacks’ Rank #1 Strong Buy lists, including a July income-stock screen, reinforcing the recent bullish sentiment from analysts. Zacks article
• Neutral Sentiment: A separate Zacks article compared Cummins’ stock performance with other auto/tires/trucks names this year, but it did not introduce a direct catalyst on its own. Zacks article

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CMI shares. Evercore reaffirmed an “outperform” rating and set a $845.00 price target on shares of Cummins in a report on Monday, May 11th. Robert W. Baird set a $700.00 price objective on Cummins in a report on Wednesday, May 6th. Truist Financial boosted their target price on Cummins from $815.00 to $901.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Cummins from $600.00 to $725.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Cummins in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $738.00.

Insiders Place Their Bets

In other news, VP Marvin Boakye sold 3,481 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $679.90, for a total value of $2,366,731.90. Following the transaction, the vice president 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brett Michael Merritt sold 701 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $688.75, for a total transaction of $482,813.75. Following the completion of the transaction, the insider directly owned 10,404 shares in the company, valued at approximately $7,165,755. The trade was a 6.31% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 13,579 shares of company stock valued at $9,377,684. 0.30% of the stock is currently owned by company insiders.

Cummins Price Performance

NYSE CMI opened at $662.21 on Friday. The business’s fifty day moving average price is $677.56 and its 200-day moving average price is $603.61. The stock has a market capitalization of $91.38 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 1.62 and a beta of 1.22. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. Cummins Inc. has a 1-year low of $325.25 and a 1-year high of $737.76.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $8.37 billion. During the same quarter in the previous year, the company posted $5.96 earnings per share. Cummins’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that Cummins Inc. will post 29.32 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s dividend payout ratio (DPR) is presently 41.52%.

About Cummins

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.