Fintel reports that on January 14, 2025, B of A Securities upgraded their outlook for Cummins (NYSE:CMI) from Underperform to Neutral.
Analyst Price Forecast Suggests 8.99% Upside
As of December 23, 2024, the average one-year price target for Cummins is $393.54/share. The forecasts range from a low of $284.15 to a high of $483.00. The average price target represents an increase of 8.99% from its latest reported closing price of $361.07 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cummins is 30,512MM, a decrease of 10.78%. The projected annual non-GAAP EPS is 21.33.
What is the Fund Sentiment?
There are 2,327 funds or institutions reporting positions in Cummins. This is an increase of 56 owner(s) or 2.47% in the last quarter. Average portfolio weight of all funds dedicated to CMI is 0.25%, an increase of 12.95%. Total shares owned by institutions increased in the last three months by 1.61% to 131,234K shares. 
The put/call ratio of CMI is 0.62, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 5,800K shares representing 4.23% ownership of the company. In its prior filing, the firm reported owning 6,882K shares , representing a decrease of 18.66%. The firm decreased its portfolio allocation in CMI by 5.20% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,352K shares representing 3.17% ownership of the company. In its prior filing, the firm reported owning 4,328K shares , representing an increase of 0.55%. The firm increased its portfolio allocation in CMI by 10.42% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 3,589K shares representing 2.62% ownership of the company. In its prior filing, the firm reported owning 3,511K shares , representing an increase of 2.19%. The firm increased its portfolio allocation in CMI by 10.00% over the last quarter.
Geode Capital Management holds 3,293K shares representing 2.40% ownership of the company. In its prior filing, the firm reported owning 3,357K shares , representing a decrease of 1.92%. The firm decreased its portfolio allocation in CMI by 44.74% over the last quarter.
Fisher Asset Management holds 3,006K shares representing 2.19% ownership of the company. In its prior filing, the firm reported owning 2,840K shares , representing an increase of 5.50%. The firm increased its portfolio allocation in CMI by 16.54% over the last quarter.
Cummins Background Information
(This description is provided by the company.)
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, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 57,825 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $1.8 billion on sales of $19.8 billion in 2020.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
