Cummins Inc.

(New York Stock Exchange)
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Somewhat Bullish +42

Cummins Inc. $CMI Shares Sold by First Trust Advisors LP

AI-generated analysis

πŸ“‰ First Trust Advisors LP decreased its stake in Cummins by 74.0% in Q1, selling 401,465 shares while retaining 141,331 shares valued at $76 million.

πŸ“ˆ Juno Financial Group acquired a new stake worth $883,000, and Truist Financial Corp raised its holdings by 4.8% in the fourth quarter.

πŸ’° Cummins declared a quarterly dividend of $2.20 per share, representing an increase from the previous $2.00 payout with a yield of 1.3%.

πŸ“Š The company has a market capitalization of $91.62 billion and trades at a PE ratio of 34.46 with a debt-to-equity ratio of 0.50.

πŸ‘” EVP Bonnie J. Fetch sold 652 shares worth $456,523.88 in May, while VP Nathan R. Stoner sold 607 shares worth $421,294.42.

πŸ“‰ Zacks Research downgraded Cummins from a 'strong-buy' to a 'hold' rating on July 13th.

πŸ”Ό Truist Financial raised its price target from $815.00 to $901.00 and maintained a 'buy' rating in a report dated July 2nd.

πŸ“ˆ Barclays increased its price target from $610.00 to $760.00 and assigned an 'overweight' rating on May 6th.

🏭 Cummins manufactures diesel and natural gas engines for heavy, medium, and light-duty applications across commercial and industrial sectors.

πŸ“‰ Insiders sold a total of 13,579 shares worth $9.38 million over the last ninety days.

Bullish Signals
  • Truist Financial Corp raised its price target on Cummins from $815.00 to $901.00 and reaffirmed a 'buy' rating.
  • Barclays increased its price target from $610.00 to $760.00 and upgraded the rating to 'overweight'.
  • JPMorgan Chase & Co. lifted its price objective from $600.00 to $725.00.
  • The company increased its quarterly dividend from $2.00 to $2.20 per share, boosting the annualized yield to 1.3%.
  • Institutional ownership remains strong at 83.46%, with several funds like Smith Salley Wealth Management increasing stakes by over 1,300%.
Risk Factors
  • Zacks Research downgraded Cummins from a 'strong-buy' rating to a 'hold' rating.
  • Weiss Ratings lowered its rating from 'buy (b)' to 'buy (b-)' in May.
  • JPMorgan Chase & Co. assigned a 'neutral' rating despite raising its price target.
  • Insiders sold 13,579 shares worth $9.38 million in the last ninety days, indicating some profit-taking or portfolio rebalancing by executives.
Full Analysis
First Trust Advisors LP significantly reduced its stake in Cummins Inc. (NYSE: CMI) by 74.0% during the first quarter, selling over 401,000 shares and retaining a position valued at approximately $76 million. This move was part of broader institutional activity where other funds like Juno Financial Group, Truist Financial Corp, and Smith Salley Wealth Management increased their holdings in the fourth quarter, with some seeing massive percentage gains in their positions. The article details Cummins' current financial metrics, noting a market capitalization of $91.62 billion and a price-to-earnings ratio of 34.46. The stock recently opened at $663.96, trading between a 12-month low of $354.68 and a high of $737.76. The company maintains a healthy balance sheet with a debt-to-equity ratio of 0.50 and has declared a quarterly dividend of $2.20 per share, payable on September 3rd to stockholders of record by August 21st. Insider trading activity shows recent sales by executive vice president Bonnie J. Fetch and vice president Nathan R. Stoner in May, with insiders collectively selling shares worth over $9 million in the last ninety days. Analyst sentiment remains mixed but generally positive, with Truist Financial raising its price target to $901 and Barclays increasing theirs to $760, while Zacks Research downgraded the stock from a strong-buy to a hold rating. Cummins continues to operate as a global leader in power technology, designing and manufacturing diesel and natural gas engines for on-highway and off-highway applications. The company's product portfolio includes generator sets, electrified powertrains, and related components aimed at reducing emissions and improving fuel efficiency, solidifying its position in the commercial and industrial markets.