Cummins (CMI)

• Market cap: $38.7B
• 1 day: 0.45%
• 5 days: 1.54%
• 1 month: -13.59%
• 3 months: -23.07%
• 6 months: -15.37%
• Year to date: -18.94%
• 1 year: -3.28%
• 5 years: 88.91%
• 10 years: 110.56%
• Sector: Industrials
• Industry: Specialty Industrial Machinery

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: 69,600

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

173% more first-time investments, than exits

New positions opened: 227 | Existing positions closed: 83

53% more funds holding in top 10

Funds holding in top 10: 15 [Q3] → 23 (+8) [Q4]

24% more call options, than puts

Call options by funds: $304M | Put options by funds: $246M

11% more capital invested

Capital invested by funds: $36.9B [Q3] → $40.9B (+$3.96B) [Q4]

8% more funds holding

Funds holding: 1,405 [Q3] → 1,519 (+114) [Q4]

8% less repeat investments, than reductions

Existing positions increased: 497 | Existing positions reduced: 542

1.28% less ownership

Funds ownership: 85.74% [Q3] → 84.46% (-1.28%) [Q4]

Research analyst outlook

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

• Low target: $240 15% downside
• Avg. target: $337 19% upside
• High target: $451 60% upside

8 analyst ratings

• positive: 3 38%
• neutral: 4 50%
• negative: 1 13%

Morgan Stanley Angel Castillo 50% 1-year accuracy 12 / 24 met price target	21% upside $340	Overweight Maintained	16 Apr 2025
Baird David Leiker 20% 1-year accuracy 1 / 5 met price target	12% upside $315	Neutral Maintained	15 Apr 2025
JP Morgan Tami Zakaria 26% 1-year accuracy 9 / 35 met price target	9% upside $308	Neutral Maintained	11 Apr 2025
Citigroup Kyle Menges 30% 1-year accuracy 11 / 37 met price target	14% upside $320	Buy Maintained	8 Apr 2025
Truist Securities Jamie Cook 33% 1-year accuracy 29 / 88 met price target	20% upside $338	Hold Maintained	8 Apr 2025