CumminsCMI
Market Cap: $40.2B
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 Q2 SEC filings by fund managers ($100M+ AUM)
58% more call options, than puts
Call options by funds: $344M | Put options by funds: $218M
13% more first-time investments, than exits
New positions opened: 119 | Existing positions closed: 105
1.41% more ownership
Funds ownership: 83.66% [Q1] → 85.07% (+1.41%) [Q2]
1% more funds holding
Funds holding: 1,340 [Q1] → 1,354 (+14) [Q2]
6% more repeat investments, than reductions
Existing positions increased: 508 | Existing positions reduced: 480
8% less capital invested
Capital invested by funds: $34.9B [Q1] → $32.2B (-$2.71B) [Q2]
44% less funds holding in top 10
Funds holding in top 10: 18 [Q1] → 10 (-8) [Q2]
Research analyst outlook
7 Wall Street Analysts provided 1 year price targets over the past 3 months
7 analyst ratings
Evercore ISI Group David Raso 31% 1-year accuracy 4 / 13 met price target | 0%upside $294 | In-Line Maintained | 19 Aug 2024 |
Barclays Adam Seiden 73% 1-year accuracy 11 / 15 met price target | 6%upside $310 | Equal-Weight Maintained | 5 Aug 2024 |
Truist Securities Jamie Cook 62% 1-year accuracy 29 / 47 met price target | 19%upside $349 | Hold Maintained | 5 Aug 2024 |
JP Morgan Tami Zakaria 42% 1-year accuracy 13 / 31 met price target | 3%downside $285 | Underweight Maintained | 2 Aug 2024 |
Baird David Leiker 0% 1-year accuracy 0 / 2 met price target | 7%upside $315 | Neutral Maintained | 2 Aug 2024 |
Financial journalist opinion
Based on 5 articles about CMI published over the past 30 days