Cummins
About: Cummins is a leading manufacturer of diesel and other engines used in heavy- and medium-duty commercial trucks, off-highway equipment, and locomotives, in addition to prime power and standby generators. The company also sells powertrain components, which include filtration products, transmissions, turbochargers, aftertreatment systems, and fuel systems. Sales are approximately 60% US and Canada and 40% rest of world. Much of Cummins' foreign sales (China, India, and so forth) are through joint ventures. The company operates 650 distributors and over 19,000 dealer locations across 190 countries. Cummins' business model is unique as it competes with many of its heavy-duty truck manufacturer customers, who also make their own engines.
Employees: 69,600
Fund manager confidence
Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)
172% more first-time investments, than exits
New positions opened: 226 | 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: 1,406 [Q3] → 1,519 (+113) [Q4]
8% less repeat investments, than reductions
Existing positions increased: 498 | Existing positions reduced: 542
1.28% less ownership
Funds ownership: 85.75% [Q3] → 84.46% (-1.28%) [Q4]
Research analyst outlook
7 Wall Street Analysts provided 1 year price targets over the past 3 months
7 analyst ratings
Citigroup Kyle Menges 57% 1-year accuracy 25 / 44 met price target | 5%upside $350 | Buy Maintained | 12 May 2025 |
Morgan Stanley Angel Castillo 73% 1-year accuracy 22 / 30 met price target | 5%upside $350 | Overweight Maintained | 6 May 2025 |
JP Morgan Tami Zakaria 46% 1-year accuracy 16 / 35 met price target | 4%downside $320 | Neutral Maintained | 6 May 2025 |
Baird David Leiker 40% 1-year accuracy 2 / 5 met price target | 5%downside $315 | Neutral Maintained | 15 Apr 2025 |
Truist Securities Jamie Cook 64% 1-year accuracy 56 / 87 met price target | 2%upside $338 | Hold Maintained | 8 Apr 2025 |
Financial journalist opinion
Based on 25 articles about CMI published over the past 30 days









