Midwest Trust 13F: Adds $6.9M to Cummins (CMI) Stake
Key Points
- Midwest Trust grew its Cummins Inc. holding by 13,422 shares to 27,433 shares valued at roughly $14.17 million.
- Cummins Inc. recently traded around $542.21, down from its 52-week high of $737.76 while holding a dividend yield of 1.69%.
- Fisher Asset Management, LLC also held a major stake of 3,595,361 shares worth about $1.87 billion in the industrial equipment maker.
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Midwest Trust boosted its stake in Cummins Inc. CMI by 95.8% during the period, purchasing an additional 13,422 shares to bring its total holdings to 27,433 shares. According to a Form 13F filing with the Securities and Exchange Commission on October 22, 2026, the updated position carried a value of $14,171,065. Cummins shares closed at $519.53 on the filing date.
CMI
Cummins Inc.
What Changed in Midwest Trust's Cummins Position
The institutional investor expanded its position significantly from its previous count of 14,011 shares. The added shares effectively doubled the firm's exposure to the engine and power solutions manufacturer.
Other Institutional Activity in Cummins
Fisher Asset Management, LLC grew its holdings by 98,268 shares, ending with 3,595,361 shares worth about $1.87 billion.
Cummins Inc. Stock Holds Steady
The stock recently traded around $542.21 as of October 23, 2026, putting it up about 4.4% from its $519.53 close on the filing date. The shares sit below the 52-week high of $737.76 and well above the 52-week low of $409.79.
Recent Earnings
The power solutions provider posted trailing twelve-month revenue of $34.71 billion with an earnings per share total of $19.57. The company registered a net profit margin of 7.8% and a return on equity of 21.1%. Its next earnings report is scheduled for November 5, 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.
Insider Buying and Selling at Cummins Inc.
Company insiders completed several transactions ahead of the filing period. Nathan R. Stoner sold 607 shares on May 11, 2026, at an average price of $694.06 for a total of $421,294. Jennifer Mary Bush sold 5,000 shares on May 12, 2026, valued at $3,481,066. Donald G. Jackson sold 730 shares on May 14, 2026, totaling $518,975. Later, Chief Technology Officer Earl Newsome Jr. sold 698 shares on August 24, 2026, at $572.22 per share for a value of $399,410.
Analysts Set New Price Targets
Wall Street firms updated their views on the stock through October. UBS maintained a Buy rating with a $741.00 price target on September 30, 2026. Truist Securities maintained a Buy rating and set a $779.00 target on October 5, 2026. Wells Fargo maintained an Overweight rating with a $760.00 target on October 8, 2026. Citigroup maintained a Buy rating and adjusted its target to $630.00 on October 12, 2026. Barclays maintained an Overweight rating with a $675.00 target on October 19, 2026. The stock holds a consensus Buy rating from 19 analysts with a mean price target of $716.66.
About Cummins
Cummins Inc. designs and manufactures diesel and natural gas engines, electrical power generation systems, and related components. The company operates globally across several industrial and commercial markets, providing power infrastructure for heavy-duty applications.
Bottom Line
Midwest Trust's larger stake reflects growing institutional exposure to the industrial equipment maker. Investors can look toward the upcoming earnings release on November 5, 2026, for further operational updates.
Related Filing Alerts
Source: Midwest Trust's 13F filing on $CMI (Oct 22, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts