Cummins (CMI)

• Market cap: $50.2B
• 1 day: 0.00%
• 5 days: 3.77%
• 1 month: 1.41%
• 3 months: 10.02%
• 6 months: 24.14%
• Year to date: 5.38%
• 1 year: 57.17%
• 5 years: 110.78%
• 10 years: 157.93%
• 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: $387M | Put options by funds: $257M

50% more funds holding in top 10

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

45% more first-time investments, than exits

New positions opened: 145 | Existing positions closed: 100

11% more capital invested

Capital invested by funds: $33.5B [Q2] → $37.2B (+$3.76B) [Q3]

2% more funds holding

Funds holding: 1,371 [Q2] → 1,399 (+28) [Q3]

1% more repeat investments, than reductions

Existing positions increased: 510 | Existing positions reduced: 506

1.84% less ownership

Funds ownership: 88.37% [Q2] → 86.52% (-1.84%) [Q3]

Research analyst outlook

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

• Low target: $358 2% downside
• Avg. target: $402 10% upside
• High target: $435 19% upside

8 analyst ratings

• positive: 3 38%
• neutral: 5 63%
• negative: 0 0%

Truist Securities Jamie Cook 66% 1-year accuracy 57 / 86 met price target	16% upside $425	Hold Maintained	16 Jan 2025
Citigroup Kyle Menges 58% 1-year accuracy 14 / 24 met price target	17% upside $430	Buy Maintained	14 Jan 2025
B of A Securities Michael Feniger 50% 1-year accuracy 1 / 2 met price target	2% downside $358	Neutral Upgraded	14 Jan 2025
JP Morgan Tami Zakaria 53% 1-year accuracy 16 / 30 met price target	15% upside $420	Neutral Upgraded	9 Dec 2024
Jefferies Stephen Volkmann 27% 1-year accuracy 3 / 11 met price target	19% upside $435	Buy Maintained	6 Dec 2024