Verity & Verity 13F: Adds $1.9M to Cummins (CMI) Stake
Key Points
- Verity & Verity raised its position in Cummins Inc. by 10.8%, purchasing 3,728 shares to end the period with 38,094 shares worth about $19.7 million.
- Cummins Inc. recently traded around $519.53 per share, sitting well below its 52-week high of $737.76.
- The engine maker pays an annual dividend rate of $8.80 per share, offering a dividend yield of 1.69% with a payout ratio of 40.9%.
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Verity & Verity boosted its holdings in Cummins Inc. CMI by 10.8% during the period, according to a Form 13F filing with the SEC on October 23, 2026. The firm acquired an additional 3,728 shares to bring its total stake to 38,094 shares. The value of the investment reached about $19.7 million at the close of the quarter.
CMI
Cummins Inc.
What Changed in Verity & Verity's Cummins Position
Verity & Verity grew its investment in the engine manufacturer from 34,366 shares up to 38,094 shares. That 10.8% increase added 3,728 shares to the portfolio during the filing period, placing the total reported value near $19.7 million.
Other Institutional Activity in Cummins
Other institutional investors also adjusted their positions in Cummins Inc. during a similar window. Capital Investment Advisors grew its holdings by 5,961 shares, ending with 119,011 shares worth about $61.5 million. Midwest Trust lifted its stake by 13,422 shares, or 95.8%, finishing with 27,433 shares valued at about $14.2 million. Trust Co of Vermont increased its holdings by 1,207 shares to own 18,229 shares worth about $9.4 million. Foster Victor Wealth Advisors added 2,504 shares for a total of 26,840 shares worth about $14.0 million. Meanwhile, TCV Trust & Wealth Management closed out its position by selling 330 shares.
Cummins Inc. Stock Down 4.2%
Cummins Inc. shares recently traded around $519.53 as of October 24, 2026. The stock closed at $517.40 on the filing date of October 23, 2026. The share price sits well below its 52-week high of $737.76 while trading higher than its 52-week low of $409.79.
Recent Earnings
Cummins Inc. reported trailing-twelve-month revenue of $34.71 billion alongside earnings of $19.57 per share. The company posted 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.
Dividend
Cummins Inc. distributes an annual dividend rate of $8.80 per share. That payout translates to a dividend yield of 1.69%. The company maintains a dividend payout ratio of 40.9%, meaning it uses a little under half of its earnings to fund shareholder distributions.
Insider Buying and Selling at Cummins Inc.
Company insiders executed several transactions prior to the filing. Officer Nathan R Stoner sold 607 shares on May 11, 2026, at an average price of $694.06 for a total of $421,294. Officer Jennifer Mary Bush sold 5,000 shares on May 12, 2026, valued at approximately $3.5 million. Officer Donald G Jackson disposed of 730 shares on May 14, 2026, totaling $518,975. Chief Technology Officer Earl Newsome Jr. sold 698 shares on August 24, 2026, at an average price of $572.22 for a total of $399,410.
Analysts Set New Price Targets
Wall Street analysts updated their views on the stock through recent months. UBS maintained a Buy rating while lowering its price target to $741.00 on September 30, 2026. Truist Securities kept a Buy rating on October 5, 2026, moving its target to $779.00. Wells Fargo maintained an Overweight rating on October 8, 2026, with a target of $760.00. Citigroup kept a Buy rating on October 12, 2026, lowering its target to $630.00. Barclays maintained an Overweight rating on October 19, 2026, adjusting its target to $675.00. Overall, the stock holds a consensus buy rating with a mean price target of $716.66 across 19 analyst opinions.
About Cummins
Cummins Inc. designs, manufactures, and distributes power solutions globally. The Columbus, Indiana-based company operates through five business segments focusing on engines, distribution, components, power systems, and zero-emission technology. It serves on-highway and off-highway markets with diesel, natural gas, and electric drivetrain products.
Bottom Line
Verity & Verity expanded its stake in Cummins Inc. as the industrial manufacturer navigates a period well below its 52-week highs. Investors can monitor the company's upcoming earnings release on November 5, 2026, for further updates on margins and segment performance.
Related Filing Alerts
Source: Verity & Verity's 13F filing on $CMI (Oct 23, 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