Cummins Inc. designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and New Power. The company offers diesel and natural gas powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers new parts and services, as well as remanufactured parts and engines. It also provides power generation systems, high-horsepower engines, heavy and medium duty engines, application engineering services, custom-designed assemblies, retail and wholesale aftermarket parts, and in-shop and field-based repair services. In addition, the company offers emission solutions; turbochargers; air and fuel filters, fuel water separators, lube and hydraulic filters, coolants, fuel additives, and other filtration systems; and electronic control modules, sensors, and supporting software, as well as new, replacement, and remanufactured fuel systems. Further, it provides automated transmissions; standby and prime power generators, controls, paralleling systems, and transfer switches, as well as A/C generator/alternator products under the Stamford and AVK brands; and electrified power systems with components and subsystems, including battery, fuel cell, and hydrogen production technologies. Additionally, it offers filtration, aftertreatment, controls systems, air handling systems, automated transmissions, and electric power generation systems. The company sells its products to original equipment manufacturers, distributors, dealers, and other customers. The company was formerly known as Cummins Engine Company and changed its name to Cummins Inc. in 2001. Cummins Inc. was founded in 1919 and is headquartered in Columbus, Indiana.
IPO Year:
Exchange: NYSE
Website: cummins.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/14/2025 | $358.00 | Underperform → Neutral | BofA Securities |
| 12/9/2024 | $355.00 → $420.00 | Underweight → Neutral | Analyst |
| 11/13/2024 | $294.00 → $408.00 | In-line → Outperform | Evercore ISI |
| 11/6/2024 | $350.00 | Buy → Hold | Vertical Research |
| 6/28/2024 | Mkt Perform | Raymond James | |
| 6/26/2024 | $320.00 | Buy | Citigroup |
| 5/10/2024 | $272.00 → $292.00 | Buy | TD Cowen |
| 3/15/2024 | Neutral → Buy | UBS | |
| 3/14/2024 | $303.00 | Hold | Truist |
| 2/7/2024 | $260.00 → $272.00 | Outperform | TD Cowen |
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BofA Securities upgraded Cummins from Underperform to Neutral and set a new price target of $358.00
Analyst upgraded Cummins from Underweight to Neutral and set a new price target of $420.00 from $355.00 previously
Evercore ISI upgraded Cummins from In-line to Outperform and set a new price target of $408.00 from $294.00 previously
Vertical Research downgraded Cummins from Buy to Hold and set a new price target of $350.00
Raymond James initiated coverage of Cummins with a rating of Mkt Perform
Citigroup initiated coverage of Cummins with a rating of Buy and set a new price target of $320.00
TD Cowen reiterated coverage of Cummins with a rating of Buy and set a new price target of $292.00 from $272.00 previously
UBS upgraded Cummins from Neutral to Buy
Truist initiated coverage of Cummins with a rating of Hold and set a new price target of $303.00
TD Cowen reiterated coverage of Cummins with a rating of Outperform and set a new price target of $272.00 from $260.00 previously
Accelera™ by Cummins, the zero-emissions business segment of Cummins Inc. (NYSE:CMI), and Isuzu Motors Limited will introduce a new battery electric powertrain for the F-series medium-duty truck at this year's ACT Expo in Anaheim, California. Scheduled for production in 2027, the fully integrated powertrain will feature Accelera's next-generation battery, eAxle, accessories and controls, and offer customers an innovative and versatile solution to fleet decarbonization. "For our customers in the US and Canada, we are very excited to expand our product offering in class 6 and 7 to include an F-Series BEV zero-emissions truck starting in 2027 in collaboration with Accelera," said Shaun Skinne
Accelera™ by Cummins, the zero-emissions business segment of Cummins Inc. (NYSE:CMI), hosted Spanish Prime Minister Pedro Sánchez and other government officials at its state-of-the-art electrolyzer manufacturing facility in Guadalajara, Castilla-la Mancha, Spain. The visit highlighted Accelera's important role in enabling the European Union (EU) and Spain's energy transition toward a sustainable future. Following Prime Minister Sánchez's visit, Accelera held a meeting with top industry executives to explore opportunities for advancing the Spanish green hydrogen market together. The Government of Spain is committed to the green transition, with green hydrogen as one of its pillars. The deci
Cummins Inc. (NYSE:CMI) announced today that Chief Administrative Officer Sharon Barner will be retiring, effective May 31, following an extraordinary career and 13 years of committed service to Cummins. "Sharon is not only a renowned legal expert and business leader in intellectual property, risk management and environmental and regulatory affairs, she is also a model of courage, integrity and strong leadership," said Jennifer Rumsey, Chair and CEO, Cummins Inc. "She embodies our values, always lifting others up as she climbs, creating nurturing environments where everyone can thrive and passionately advocating in our communities." "A deeply curious and strategic thinker, Sharon's succes
Part of the B series Cummins HELM™ platform Today global power and technology leader Cummins Inc. (NYSE:CMI) announced an update to the legendary B-Series engine platform, unveiling the new Cummins B7.2 diesel engine at NTEA Work Truck Week in Indianapolis, IN. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250305029897/en/Cummins B7.2 Diesel Engine for Medium-duty Applications (Photo: Business Wire) "Our B engine is a legend known around the world. We are proud to unveil the newest version, the B7.2 diesel engine, right here in our backyard," said Brett Merritt, Vice President and President – Engine Business. "The B7.2 brings t
Accelera™ by Cummins, the zero-emissions business segment of Cummins Inc. (NYSE:CMI), and GAIL (India) Limited, a Maharatna CPSE, under MoPNG and India's leading natural gas company, recently signed a Memorandum of Understanding (MOU) to collaborate on green hydrogen and zero-emissions technologies in India. The collaboration will leverage Accelera's expertise in hydrogen generation technology and GAIL's established natural gas infrastructure to explore opportunities in hydrogen production, blending, transportation and storage. The partnership will also evaluate and develop projects for hydrogen applications across multiple sectors, including transport, power and steel. "Accelera's collab
Cummins Inc. (NYSE:CMI) is introducing the much anticipated X10, the mid-bore workhorse designed to deliver heavy-duty performance in a midsize package. The X10 is a mid-bore heavy-duty engine poised to position customers for success. It replaces both the L9 and X12 engine platforms. This product delivers a new level of performance, durability and efficiency for heavy and medium-duty customers. The X10 is part of the Cummins HELM™ platforms, an approach that allows customers to choose the fuel type that best suits their needs. Alongside the X15 and B Series, the X10 provides customers with a power solution to meet their unique operational requirements while maintaining the performance and
Cummins Inc. is pleased to announce two important changes to the Cummins Leadership Team, effective March 15. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250218148598/en/Bonnie Fetch Appointed Executive Vice President and President – Operations. (Photo: Business Wire) "Cummins is fortunate to have strong and capable leaders who are dedicated to advancing our Destination Zero strategy and delivering outstanding results for our customers and business," said Jennifer Rumsey, Chair and CEO of Cummins. "I am proud to promote two experienced, people-centered leaders who embody our company's commitment to living Cummins' values, deli
The Board of Directors of Cummins Inc. (NYSE:CMI) today declared a quarterly common stock cash dividend of one dollar and eighty-two cents ($1.82) per share. The dividend is payable on March 6, 2025, to shareholders of record on February 21, 2025. About Cummins Inc. Cummins Inc., a global power solutions leader, is comprised of five business segments – Engine, Components, Distribution, Power Systems and Accelera by Cummins – supported by our global manufacturing and extensive service and support network, skilled workforce and vast technological expertise. Cummins is committed to its Destination Zero strategy, which is grounded in the company's commitment to sustainability and helping it
Cummins Inc. (NYSE:CMI) today announced the acquisition of assets of First Mode, a leader in retrofit hybrid solutions for mining and rail operations. The acquisition includes hybrid mining and rail product lines, and the full IP portfolio which includes hydrogen and battery powertrain solutions. This technology represents the first commercially available retrofit hybrid system for mining equipment, significantly reducing total cost of ownership (TCO) while advancing decarbonization in operations. In addition, Cummins is acquiring First Mode's commercial portfolio, manufacturing and technical teams in Australia, the United States and Chile. First Mode will continue to serve customers thro
Accelera™ by Cummins, the zero-emissions business segment of Cummins Inc. (NYSE:CMI), will supply a 100-megawatt (MW) proton exchange membrane (PEM) electrolyzer system for bp's Lingen green hydrogen project in Germany. This project, bp's largest hydrogen production plant to date, will utilize Accelera's advanced HyLYZER® PEM electrolyzer technology. The hydrogen-generation system set to power bp's Lingen project will consist of 20 PEM HyLYZER®-1000 electrolyzer units — the largest electrolyzer system assembled by Accelera to date — and is being manufactured in Accelera's new electrolyzer plant in Guadalajara, Spain. Once fully commissioned in 2027, the 100 MW electrolyzer system will pro
Cummins Inc. (NYSE:CMI) announced today that Chief Administrative Officer Sharon Barner will be retiring, effective May 31, following an extraordinary career and 13 years of committed service to Cummins. "Sharon is not only a renowned legal expert and business leader in intellectual property, risk management and environmental and regulatory affairs, she is also a model of courage, integrity and strong leadership," said Jennifer Rumsey, Chair and CEO, Cummins Inc. "She embodies our values, always lifting others up as she climbs, creating nurturing environments where everyone can thrive and passionately advocating in our communities." "A deeply curious and strategic thinker, Sharon's succes
Radwell International ("Radwell," or "the Company"), a leading global industrial operations, automation, and electronics solutions provider, today announced the appointment of Chris Snodgrass as Chief Executive Officer. He will become a member of the company's Board of Directors, effective August 5, 2024. Mr. Snodgrass is a proven global executive with extensive operational and management experience across diverse industrial sectors. Most recently, he served as Senior Vice President of the Building Construction Products division (BCP) and an officer at Caterpillar, Inc. (NYSE:CAT). Prior to BCP, Mr. Snodgrass was Senior Vice President for the Product Support & Logistics division (PSLD), w
The Chemours Company ("Chemours") (NYSE:CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, today announced the appointment of Livingston "Tony" Satterthwaite to its Board of Directors, effective June 12. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240613653963/en/Tony Satterthwaite named to Chemours' Board of Directors (Photo: Business Wire) "I'm pleased to welcome Tony as the newest member of Chemours' Board of Directors," said Dawn Farrell, Chair of the Board of Chemours. "Tony brings extensive leadership and board expe
Cummins Inc. (NYSE:CMI) announced today the appointment of four leaders to the role of vice president, effective March 1 – Ricardo Roman, Michelle Probst, Gbile Adewunmi and Matt McQueen – in addition to Ashwath Ram, who was appointed Vice President in January. "These leaders each demonstrate, in their own unique ways, a commitment to making a positive impact on our company, our customers and our people," said Jennifer Rumsey, Chair and CEO, Cummins Inc. "These leaders are experts in their fields and are fiercely committed to the Cummins culture and ensuring our employees are able to reach their full potential. I am confident that, as we evolve through the energy transition and continue t
Accelera™ by Cummins, the zero-emissions business segment of Cummins Inc. (NYSE:CMI), Daimler Trucks & Buses US Holding LLC [a Daimler Truck Group Company; DAX: DTR0CK; "Daimler Truck"] and PACCAR (NASDAQ:PCAR) have selected Marshall County, Mississippi, as the future site of advanced battery cell manufacturing for their planned joint venture. The joint venture will localize battery cell production for commercial electric vehicles and is expected to create more than 2,000 U.S. manufacturing jobs, with the option for further expansion as demand grows. The 21-gigawatt hour (GWh) factory is expected to begin producing battery cells in 2027. The planned joint venture between Accelera, Daimler
Jim Cramer and Bernardo Calleja to retire in early 2024 FARMINGTON, Conn., Sept. 28, 2023 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) announces the appointment of Tracy Embree as President, Otis Americas and Enrique Miñarro Viseras as President, Otis Europe, Middle East and Africa (EMEA), reporting directly to Otis Chair, CEO & President, Judy Marks. Effective Oct. 1, Embree will succeed Jim Cramer and Miñarro Viseras will succeed Bernardo Calleja. Otis is the world's leading company for elevator and escalator manufacturing, installation and service. Embree joins O
HANZHONG, China, Nov. 14, 2022 /PRNewswire/ -- Green Giant Inc. (NASDAQ:GGE) ("GGE" or the "Company"), today announced appointment of Mr. Junaid Ali as CEO of its wholly owned subsidiary Green Giant LLC to spearhead its effort to explore green energy section in the U.S. Mr. Junaid Ali has decades of experience in the development of multi-million dollar energy projects ranging from power utility sector to oil and gas business in four different continents. He started his career with Cummins (NYSE:CMI) as a project engineer and ultimately became a project manager in their power generation business from 2006 to 2011. He then joined APR Energy in 2011 as a senor project manager and moved up to be
Hans-Bernd Veltmaat to retire as Chief Supply Chain Officer Tim Millwood appointed Chief Supply Chain Officer effective August 15, 2022 AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, infrastructure and precision ag technology, announced today that its Board of Directors has appointed Tim Millwood to succeed Hans-Bernd Veltmaat as Senior Vice President and Chief Supply Chain Officer effective August 15, 2022. Mr. Millwood joins AGCO following a more than thirty-year career at Cummins Inc (NYSE:CMI), a global power technology leader, where he most recently served as Vice President, Global Manufacturing. Hans-Bernd Veltmaat ha
Ready joins Portable Electric's as CFO Ready previously worked with Loop Energy and was integral to closing their Series A and B rounds with Cummins and led Loop's $100M IPO on the TSX in 2021 Ready's announcement comes a week after Portable Electric announced Scott Hardy as its CEO VANCOUVER, BC, Dec. 15, 2021 /PRNewswire/ - Portable Electric Ltd., a Vancouver-based cleantech company and global leader in clean energy power stations, is pleased to announce the appointment of Darren Ready as the company's new Chief Financial Officer and Corporate Secretary, effective December 1, 2021. The news comes just a week after Portable Electric announced the appointment of Scott Hardy as the new CEO.
PITTSBURGH--(BUSINESS WIRE)--Howmet Aerospace Inc. (NYSE:HWM) announces that its Board of Directors has elected Sharon Barner, Vice-President, Chief Legal Officer and Corporate Secretary for Cummins Inc., to serve as an independent director on the Board, effective April 1, 2021. “Sharon brings to the Howmet Board extensive business and legal perspectives that will be complementary to our current board and which are highly valued in our evolving, competitive environment,” said John C. Plant, Chairman and Co-Chief Executive Officer. Ms. Barner has more than 30 years of experience as an international business leader and lawyer in the technology, automotive and life sciences industrie
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The Board of Directors of Cummins Inc. (NYSE:CMI) today declared a quarterly common stock cash dividend of one dollar and eighty-two cents ($1.82) per share. The dividend is payable on March 6, 2025, to shareholders of record on February 21, 2025. About Cummins Inc. Cummins Inc., a global power solutions leader, is comprised of five business segments – Engine, Components, Distribution, Power Systems and Accelera by Cummins – supported by our global manufacturing and extensive service and support network, skilled workforce and vast technological expertise. Cummins is committed to its Destination Zero strategy, which is grounded in the company's commitment to sustainability and helping it
Cummins Inc. (NYSE:CMI) today announced the acquisition of assets of First Mode, a leader in retrofit hybrid solutions for mining and rail operations. The acquisition includes hybrid mining and rail product lines, and the full IP portfolio which includes hydrogen and battery powertrain solutions. This technology represents the first commercially available retrofit hybrid system for mining equipment, significantly reducing total cost of ownership (TCO) while advancing decarbonization in operations. In addition, Cummins is acquiring First Mode's commercial portfolio, manufacturing and technical teams in Australia, the United States and Chile. First Mode will continue to serve customers thro
Fourth quarter revenues of $8.4 billion; GAAP1 Net Income of $418 million, or 4.9% of sales EBITDA in the fourth quarter was 12.1% of sales; Diluted EPS of $3.02 Fourth quarter results include $312 million, or $2.14 per diluted share, of Accelera strategic reorganization actions, of which $305 million were non-cash charges Full year 2024 revenues of $34.1 billion; GAAP1 Net Income of $3.9 billion, or 11.6% of sales EBITDA for full year 2024 was 18.6% of sales; Diluted EPS of $28.37 Full year 2025 revenues expected to range from down 2% to up 3%; EBITDA expected to range between 16.2% and 17.2% of sales Cummins Inc. (NYSE:CMI) today reported fourth quarter and full year 20
Third quarter revenues of $8.5 billion; GAAP1 Net Income of $809 million, or 9.6% of sales EBITDA in the third quarter was 16.4% of sales; Diluted EPS of $5.86 The company is maintaining its full year 2024 revenue guidance of down 3% to flat. EBITDA is now expected to be approximately 15.5% compared to previous guidance of 15.0% to 15.5%. Cummins Inc. (NYSE:CMI) today reported results for the third quarter of 2024. "We achieved strong sales and profitability in the third quarter, led by improvement in our Power Systems and Distribution businesses, and have adjusted our full year projection for EBITDA percentage to be at the top end of the prior range," said Jennifer Rumsey, Chair
The Board of Directors of Cummins Inc. (NYSE:CMI) today declared a quarterly common stock cash dividend of 1.82 dollars per share. The dividend is payable on December 5, 2024, to shareholders of record on November 22, 2024. About Cummins Inc. Cummins Inc., a global power solutions leader, is comprised of five business segments – Components, Engine, Distribution, Power Systems and Accelera by Cummins – supported by our global manufacturing and extensive service and support network, skilled workforce and vast technological expertise. Cummins is committed to its Destination Zero strategy, which is grounded in the company's commitment to sustainability and helping its customers successfully n
Record second quarter revenues of $8.8 billion; GAAP1 Net Income of $726 million EBITDA in the second quarter was 15.3% of sales; Diluted EPS of $5.26 Full year revenues are expected to range from down 3% to flat; an improvement from prior guidance of down 2% to 5%. EBITDA is now expected to be in the range of 15.0% to 15.5%; an increase from previous guidance of 14.5% to 15.5%. Cummins Inc. (NYSE:CMI) today reported results for the second quarter of 2024. "We achieved record quarterly sales and solid profitability in the second quarter, led by significant improvement in our Power Systems business," said Jennifer Rumsey, Chair and CEO of Cummins. "As we shared during our Anal
The Board of Directors of Cummins Inc. (NYSE:CMI) today approved an increase in the company's quarterly common stock cash dividend of approximately 8.3% from 1.68 dollars per share to 1.82 dollars per share. The dividend is payable on September 5, 2024, to shareholders of record on August 23, 2024. Cummins has increased the quarterly common stock dividend to shareholders for 15 consecutive years. About Cummins Inc. Cummins Inc., a global power solutions leader, is comprised of five business segments – Components, Engine, Distribution, Power Systems and Accelera by Cummins – supported by our global manufacturing and extensive service and support network, skilled workforce and vast techno
The Board of Directors of Cummins Inc. (NYSE:CMI) today declared a quarterly common stock cash dividend of 1.68 dollars per share, payable on June 6, 2024, to shareholders of record on May 24, 2024. About Cummins Inc. Cummins Inc., a global power solutions leader, is comprised of five business segments – Components, Engine, Distribution, Power Systems and Accelera by Cummins – supported by our global manufacturing and extensive service and support network, skilled workforce and vast technological expertise. Cummins is committed to its Destination Zero strategy, which is grounded in the company's commitment to sustainability and helping its customers successfully navigate the energy tran
First quarter revenues of $8.4 billion; GAAP1 Net Income of $2.0 billion EBITDA in the first quarter was 30.6% of sales; Diluted EPS of $14.03 First quarter results include a net gain of $1.3 billion, or $9.08 per diluted share, related to the separation of Atmus and $29 million, or $0.15 per diluted share, of restructuring expenses. The company is raising its guidance for full year 2024 revenue and EBITDA after adjusting for the separation of Atmus. Full year revenues are expected to decline 2% to 5%; prior guidance was also down 2% to 5% but assumed the inclusion of Atmus revenues for the full year. EBITDA is now expected to be in the range of 14.5% to 15.5%; an increase f
The Board of Directors of Cummins Inc. (NYSE:CMI) today declared a quarterly common stock cash dividend of 1.68 dollars per share, payable on March 7, 2024, to shareholders of record on February 23, 2024. About Cummins Inc. Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company's products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, valvetrain technologies, controls systems, air handling systems, automated transmissions, axles, drivelines