Cummins (NYSE:CMI) Stock Gets Price Target Cut from Truist Financial

Cummins (NYSE:CMI) had its price target dropped by Truist Financial from $779.00 to $637.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial‘s price objective would indicate a potential upside of 40.74% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Weiss Ratings cut Cummins from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, August 31st. Zacks Research lowered Cummins from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. UBS Group dropped their target price on shares of Cummins from $835.00 to $741.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. JPMorgan Chase & Co. cut their price target on shares of Cummins from $690.00 to $600.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 23rd. Finally, Barclays decreased their target price on Cummins from $760.00 to $675.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $680.71.

Cummins Stock Up 0.9%

NYSE CMI traded up $4.04 during trading on Friday, hitting $452.62. 978,596 shares of the company traded hands, compared to its average volume of 1,023,248. The business has a fifty day simple moving average of $528.92 and a 200 day simple moving average of $600.18. Cummins has a 12 month low of $443.62 and a 12 month high of $737.76. The company has a current ratio of 1.73, a quick ratio of 1.13 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $62.31 billion, a P/E ratio of 23.13, a PEG ratio of 1.24 and a beta of 1.26.

Cummins (NYSE:CMI) last released its quarterly earnings results on Thursday, November 5th. The company reported $8.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.20 by $0.05. The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.89 billion. Cummins had a net margin of 7.82% and a return on equity of 25.29%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company earned $5.59 earnings per share. As a group, sell-side analysts predict that Cummins will post 29.98 EPS for the current year.

Insider Buying and Selling

In related news, VP Earl Newsome sold 698 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $572.22, for a total value of $399,409.56. Following the completion of the sale, the vice president directly owned 4,479 shares in the company, valued at approximately $2,562,973.38. The trade was a 13.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Cummins

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMI. BlackRock Inc. bought a new stake in shares of Cummins in the 2nd quarter valued at about $8,204,241,000. Bank of America Corp DE acquired a new stake in Cummins in the second quarter worth $1,408,353,000. Bank of New York Mellon Corp bought a new stake in Cummins in the 2nd quarter valued at about $973,198,000. Legal & General Group Plc acquired a new position in shares of Cummins during the second quarter worth approximately $666,635,000. Finally, Vontobel Holding Ltd. raised its holdings in Cummins by 1,436.1% during the third quarter. Vontobel Holding Ltd. now owns 584,674 shares of the company’s stock worth $302,025,000 after buying an additional 546,613 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Key Cummins News

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Third-quarter profit more than doubled from a year earlier, while revenue grew 13.5%. Cummins also cited rising data-center power demand, recovering shipments and capacity expansion as growth supports. Cummins Q3 Earnings Call Highlights Power Demand and Truck Weakness
• Positive Sentiment: Wells Fargo retained an “overweight” rating, although it cut its price target to $520 from $608. The revised target still implies upside from the recent share price. Wells Fargo rating and price target
• Negative Sentiment: Cummins lowered its 2026 revenue outlook to $37 billion, below the roughly $37.7 billion analyst consensus, citing weakness in pickup-truck demand. Third-quarter revenue also fell short of expectations, tempering the strong year-over-year growth and profit performance. Cummins Q3 Profit More Than Doubles; Cuts FY26 Revenue Outlook

About Cummins

Cummins Inc is a global power technology company founded in 1919 and headquartered in Columbus, Indiana. It designs, manufactures, distributes and services products used in commercial vehicles, industrial equipment, power generation and other applications.

The company’s offerings include diesel and natural gas engines, power generation systems, and components such as filtration, turbochargers and emissions-control systems. Through its Accelera business, Cummins also develops technologies including batteries, fuel cells and electrolyzers for lower-emission power and transportation.

Cummins serves customers in markets around the world through manufacturing operations, distribution networks and service locations.