Cummins (CMI)

• Market cap: $48.2B
• 1 day: 0.48%
• 5 days: -3.90%
• 1 month: -2.65%
• 3 months: 14.00%
• 6 months: 26.25%
• Year to date: 45.69%
• 1 year: 46.09%
• 5 years: 94.01%
• 10 years: 141.83%
• Sector: Industrials
• Industry: Engines & Turbines

About: Cummins is the top manufacturer of diesel engines used in commercial trucks, off-highway machinery, and railroad locomotives, in addition to standby and prime power generators. The company also sells powertrain components, which include transmissions, turbochargers, aftertreatment systems, and fuel systems. Cummins is in the unique position of competing with its primary customers, heavy-duty truck manufacturers, who make and aggressively market their own engines. Despite robust competition across all its segments and increasing government regulation of carbon emissions, Cummins has maintained its leadership position in the industry.

Employees: 75,500

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

51% more call options, than puts

Call options by funds: $363M | Put options by funds: $240M

50% more funds holding in top 10

Funds holding in top 10: 10 [Q2] → 15 (+5) [Q3]

23% more first-time investments, than exits

New positions opened: 144 | Existing positions closed: 117

11% more capital invested

Capital invested by funds: $33.2B [Q2] → $37B (+$3.76B) [Q3]

2% more funds holding

Funds holding: 1,368 [Q2] → 1,395 (+27) [Q3]

1% more repeat investments, than reductions

Existing positions increased: 509 | Existing positions reduced: 505

1.74% less ownership

Funds ownership: 87.69% [Q2] → 85.95% (-1.74%) [Q3]

Research analyst outlook

7 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $370 5% upside
• Avg. target: $409 16% upside
• High target: $435 24% upside

7 analyst ratings

• positive: 3 43%
• neutral: 4 57%
• negative: 0 0%

Truist Securities Jamie Cook 71% 1-year accuracy 56 / 79 met price target	21% upside $424	Hold Maintained	19 Dec 2024
Citigroup Kyle Menges 29% 1-year accuracy 5 / 17 met price target	24% upside $435	Buy Maintained	9 Dec 2024
JP Morgan Tami Zakaria 55% 1-year accuracy 17 / 31 met price target	20% upside $420	Neutral Upgraded	9 Dec 2024
Jefferies Stephen Volkmann 20% 1-year accuracy 2 / 10 met price target	24% upside $435	Buy Maintained	6 Dec 2024
Evercore ISI Group David Raso 56% 1-year accuracy 10 / 18 met price target	16% upside $408	Outperform Upgraded	13 Nov 2024