First Eagle Investment Management Adds $9M in Cummins Inc. ($CMI)
First Eagle Investment Management boosted its holdings in Cummins Inc. by 1.6%, now owning 767,231 shares.
Key Points
- First Eagle Investment Management increased its stake in Cummins Inc. by 1.6%, adding 12,293 shares to hold a total of 767,231 shares valued at $558.2 million.
- Shares of Cummins Inc. traded near $727.59 on Friday, with a market cap of $100.4 billion and a P/E ratio of 37.74.
- Analysts from Wells Fargo, UBS, and Argus Research have set new price targets for Cummins, with the consensus rating being a 'buy'.
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First Eagle Investment Management increased its position in Cummins Inc. (NYSE:CMI) by 1.6%, according to its latest 13F filing with the SEC. The firm added 12,293 shares, bringing its total holdings to 767,231 shares, valued at approximately $558.2 million as of the reporting period.
First Eagle Investment Management vs. the S&P 500
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What Changed in First Eagle's Cummins Position
First Eagle Investment Management boosted its stake in Cummins by 1.6%, increasing its holdings from 754,938 to 767,231 shares. This addition of 12,293 shares reflects a growing confidence in the company's prospects, with the total value of the position now standing at $558.2 million.
Other Institutional Activity in Cummins
BlackRock, Inc. grew its holdings in Cummins by 33,188 shares, ending with 11,835,524 shares valued at about $6.37 billion, a modest 0.3% increase. Vanguard Capital Management LLC opened a new position with 8,975,971 shares worth $4.83 billion. Similarly, Vanguard Portfolio Management LLC also initiated a new stake, acquiring 7,498,010 shares valued at $4.03 billion. State Street Corp increased its holdings by 297,838 shares, a 4.6% rise, for a total of 6,807,690 shares worth $3.66 billion. On the other hand, FMR LLC reduced its stake by 220,933 shares, a 3.9% decrease, leaving it with 5,428,312 shares valued at $2.92 billion.
Cummins Inc. Stock Up 28.8%
Shares of Cummins Inc. traded near $727.59 on Friday. The company has a market capitalization of $100.4 billion and a P/E ratio of 37.74. Cummins' forward P/E is 21.45, and it carries a beta of 1.24, indicating moderate volatility relative to the market. The stock's 52-week range is between $319.37 and $737.76, with a 50-day moving average of $669.88 and a 200-day moving average of $549.25. Cummins maintains a current ratio of 1.71 and a quick ratio of 0.96, with a debt-to-equity ratio of 61.62.
$CMI stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Cummins reported revenue of $33.89 billion with a revenue growth rate of 2.7%. The company's earnings per share (EPS) stood at $19.28. Cummins achieved a net margin of 7.89% and a return on equity (ROE) of 21.99%. The next earnings report is scheduled for August 4, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
7 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 9.0%. Revenue met estimates.
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Profit surprise
EBITDA missed by 39 percent. Operating income missed by 16 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
7 target raises.
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Earnings quality
Operating margin down 2.6 points. Positive free cash flow.
Earnings Call Summary
The quarter delivered $8.4 billion in revenue, up 3 percent year over year, with power generation strong but North America trucks still weak at the start. Management highlighted a major hybrid mining truck deployment in Chile and progress on new 2027 engines. They sold the low-pressure fuel cell business to Alstom, cutting future losses in the Accelera division. The strong finish to the quarter and improving orders lead management to expect the year to be much better, with better momentum in trucks and accelerating data center buildouts globally.
Guidance Cummins raised its full year revenue forecast to grow 8 to 11 percent, up from 3 to 8 percent prior. The company expects power generation revenue to jump 15 to 25 percent, driven by strong data center demand globally. North America truck production is forecast at 230,000 to 250,000 units for heavy-duty and 125,000 to 135,000 units for medium-duty, higher than previous expectations.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
Cummins offers an annual dividend rate of $8.00 per share, yielding 1.1%. The company's dividend payout ratio is 40.62%, indicating a balanced approach to returning value to shareholders while retaining earnings for growth.
Insider Buying and Selling at Cummins Inc.
On May 19, 2026, Brett Michael Merritt, Vice President & President of the Engine Business, sold 218 shares. On May 14, 2026, Donald Jackson, VP of Treasury & Tax, sold 730 shares at an average price of $710.92. On May 13, 2026, Nathan Stoner, VP of China ABO, and Bonnie Fetch, EVP & President of Operations, sold 600 and 155 shares, respectively. On May 12, 2026, insiders Matthew Tsien and Karen Quintos bought 306 shares each.
Analysts Set New Price Targets
On June 17, 2026, Wells Fargo maintained its 'buy' rating for Cummins with a price target of $874. UBS upgraded the stock to a 'buy' with an $850 target on June 8, 2026. Argus Research also maintained a 'buy' rating, setting a target of $770 on June 1, 2026. The consensus among analysts is a 'buy' with a mean target price of $748.81 across 19 opinions.
About Cummins Inc.
Cummins Inc., headquartered in Columbus, Indiana, is a global leader in power solutions. The company operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. It offers a range of products including diesel and natural gas-powered engines, drivetrain systems, and electrified power systems. Under the leadership of CEO Jennifer W. Rumsey, Cummins employs approximately 67,400 people worldwide.
Bottom Line
First Eagle's increased stake in Cummins Inc. demonstrates investor interest in the company's growth potential. As a major player in the industrial machinery sector, Cummins' financial performance and strategic initiatives are closely watched. Note that 13F filings like this one reflect past positions and may not indicate current holdings.
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