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Cummins

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.

Cummins Inc

CMIC HOLDINGS Co Ltd

CAPELLA MINERALS LTD by Capella Minerals Ltd.

Capella Minerals Ltd

CHANGMING INDSTL MGMT GRP by Changming Industrial Management Group Holding

Changming Industrial Management Group Holding Inc

CMARK INTERNATIONAL INC by CMARK International, Inc.

Cmark International Inc

Earnings

Earnings Beats

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Cummins Q3 2024 Adj. EPS $5.60 Beats $4.80 Estimate

2024 Outlook:
Based on its current forecast, Cummins is maintaining its full-year 2024 revenue guidance to be in the range of down 3% to flat. EBITDA is expected to be approximately 15.5%; at the top end of the previous guidance of 15.0% to 15.5%.
Cummins plans to continue generating strong operating cash flow and returns for shareholders and is committed to our long-term strategic goal of returning 50% of operating cash flow back to shareholders. In the near term, we will focus on reinvesting for profitable growth, dividends and reducing debt.

Guidance

Cummins Affirms FY24 Sales Guidance Of $33.04B-$34.06B Vs, $33.60B Estimate

Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) reported quarterly earnings of $5.86 per share which beat the analyst consensus estimate of $4.78 by 22.59 percent. This is a 27.67 percent increase over earnings of $4.59 per share from the same period last year. The company reported quarterly sales of $8.456 billion which beat the analyst consensus estimate of $8.294 billion by 1.96 percent. This is a 0.30 percent increase over sales of $8.431 billion the same period last year.

Cummins Q3 2024 GAAP EPS $5.86 Beats $4.78 Estimate, Sales $8.456B Beat $8.294B Estimate

U.S. stocks could open on a tentative note on Tuesday after the <a href="https://www.benzinga.com/news/earnings/24/11/41696201/market-volatility-soars-ahead-of-elections-tech-earnings-mixed-strikes-and-hurricanes-knock-employm">averages registered a mixed October</a>. Futures of all three major indices were slightly up on Tuesday, pointing to a cautious sentiment on Wall Street.
While the S&amp;P 500 and Dow Jones snapped their six-week winning streak, the Nasdaq Composite chalked its seventh straight week of gains to round off a volatile October.
America goes to polls on Tuesday to elect its 47th president, and data so far suggests that it will be a neck-to-neck race between Democratic candidate&nbsp;Kamala Harris&nbsp;and Republican nominee&nbsp;Donald Trump.
Another factor playing on investors' minds will be the Federal Open Market Committee's (FOMC) rate decision – the prevailing sentiment is that the Fed will deliver a 25-basis point cut.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.27%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.16%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.12%</td>
</tr>
<tr>
<td>R2K</td>
<td>0.05%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Tuesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.16% to $570.71 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged up by 0.25% to $487.24, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
The Dow Jones tumbled over 250 points on Monday, closing the day down by 0.61%. The other two averages also declined amid declining investor sentiment and rising fear in the market.
Oil prices continued to rebound after tanking the week before, amid delays in production output increase by the Organization of the Petroleum Exporting Countries, or OPEC.
Treasury yields continued to rise, signaling concerns that regardless of who wins the elections, the next administration might struggle with fiscal discipline. This sentiment was further exacerbated by the International Monetary Fund's warnings on the long-term trajectory <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41495286/deficit-strain-in-washington-will-get-worse-imf-warns-national-debt-projections-rev" target="_blank" rel="noreferrer noopener">of the U.S. national debt</a>.
On the economic data front, U.S. factory orders declined by 0.5% from the previous month to $584.2 billion in September compared to a revised 0.8% fall in August.
Most sectors on the S&amp;P 500 closed on a negative note, with utilities, communication services, and financials stocks recording the biggest losses on Monday.
However, energy and real estate stocks bucked the overall market trend, closing the session higher.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.33%</td>
<td>18,179.98</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.28%</td>
<td>5,712.62</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.61%</td>
<td>41,794.60</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.40%</td>
<td>2,219.03</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Ryan Detrick, chief market strategist at Carson Group, underscored that stocks perform well on election day, which could assuage investor concerns amid rising volatility.
"What really stands out is how well stocks have done after the 10 most recent elections. Higher a year later 9 times and up 15.2% on avg (median of 17.2%)," he said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Here&#39;s how stocks have done after the past 24 elections. What really stands out is how well stocks have done after the 10 most recent elections. Higher a year later 9 times and up 15.2% on avg (median of 17.2%). <a href="https://t.co/ztim9o3RxP">pic.twitter.com/ztim9o3RxP</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1853476226741989530?ref_src=twsrc%5Etfw">November 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Echoing Detrick's sentiment, WisdomTree and Wharton School economist&nbsp;Jeremy Siegel said the equity bull run could continue.
"In the near term, stock markets seem poised for further gains, bolstered by resilient earnings and steady economic fundamentals, while bond markets will likely grapple with higher yields and volatility ahead," he said.
"The bull market in stocks looks set to continue, while bonds face a rougher road."
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data
Tuesday's economic calendar is fairly light.
<ul>
<li>On Tuesday, U.S. trade deficit data will be released at 8:30 a.m. ET.</li>
<li>ISM services data will be released at 10 a.m. ET.</li>
<li>API weekly crude oil stock data will be released at 4:30 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares soared 5.6% on election eve.</li>
<li>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) shares surged 13% in premarket trading after the company delivered strong performance and raised guidance.</li>
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares rose nearly 2% after striking machinists ratified a new deal late Monday, ending a seven-week-long strike.</li>
<li>NXP Semiconductors NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) stock fell over 5% after the company's soft guidance, despite beating expectations in the September quarter.</li>
<li>Investors are awaiting earnings results from Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) and Cummins Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) today.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures surged in the early New York session, rising by 0.4% after OPEC announced a delay in increasing production.
The 10-year Treasury note yield surged to 4.311%.
Major Asian markets ended in the green on Tuesday, and European stocks showed strength as well in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41736062/boeing-workers-end-seven-week-strike-by-accepting-new-contract-with-major-pay-increases">Boeing Workers End Seven-Week Strike By Accepting New Contract With Major Pay Increases</a></li>
</ul>
Photo courtesy: Wikimedia

Equities

Futures

Economics

Federal Reserve

Pre-Market Outlook

Markets

Movers

Trading Ideas

NXPI

PLTR

US Stocks Set For Cautious Start As Investors Brace For Volatility On Election Day: Expert Points To 'Pretty Well Overall' Historical Performance

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Monday.
U.S. stocks settled lower on Monday, with the Dow Jones index falling more than 250 points as investors braced for the high-stakes presidential election.
On the economic data front, U.S. factory orders declined by 0.5% from the previous month to $584.2 billion in September compared to a revised 0.8% fall in August.
Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>) shares gained more than 7% on Monday after the company reported better-than-expected third-quarter EPS and revenue.
Shares of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) have gained around 182% year-to-date, while Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) has lost over half its value this year.
Most sectors on the S&amp;P 500 closed on a negative note, with utilities, communication services, and financials stocks recording the biggest losses on Monday. However, energy and real estate stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 258 points to 41,794.60 on Monday. The S&amp;P 500 fell 0.28% to 5,712.69, while the Nasdaq Composite fell 0.33% to close at 18,179.98 during Monday's session.
Investors are awaiting earnings results from Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) and Cummins Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 42.9, the index remained in the &#8220;Fear&#8221; zone on Monday, versus a prior reading of 44.5.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/11/41713185/top-4-tech-and-telecom-stocks-that-may-collapse-this-month">Top 4 Tech And Telecom Stocks That May Collapse This Month</a></li>
</ul>
Photo courtesy: Shutterstock

INTC

NVDA

YUMC

Dow Tumbles 250 Points As Investors Brace For High-Stakes Presidential Election: Greed Index Enters 'Fear' Zone

With U.S. stock futures trading mixed this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>) to report quarterly earnings at $1.25 per share on revenue of $21.35 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Archer-Daniels-Midland shares rose 0.8% to $55.75 in after-hours trading.</li>
<li>Analysts expect Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) will post quarterly earnings at $1.41 per share on revenue of $1.9 billion. The company will release earnings before the markets open. Yum! Brands shares fell 0.5% to $132.06 in after-hours trading.</li>
<li>Lattice Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) reported in-line earnings for its third quarter on Monday. The company reported quarterly earnings of 24 cents per share, which met the analyst consensus estimate. Quarterly revenue came in at $127.091 million, compared to the analyst consensus estimate of $127.092 million. Lattice Semiconductor said it sees fourth-quarter revenue in a range of $112 million to $122 million, versus the $132.03 million estimate. Lattice Semiconductor shares tumbled 17.7% to $42.70 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>After the markets close, Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) is projected to report quarterly earnings at 75 cents per share on revenue of $6.45 billion. Super Micro Computer shares fell 0.3% to $25.96 in the after-hours trading session.</li>
<li>Analysts expect Cummins Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) to report quarterly earnings at $4.80 per share on revenue of $8.29 billion before the opening bell. Cummins shares gained 1% to $329.00 in after-hours trading.</li>
</ul>
Check This Out:
<ul>
<li> <a href="https://www.benzinga.com/news/24/11/41713185/top-4-tech-and-telecom-stocks-that-may-collapse-this-month">Top 4 Tech And Telecom Stocks That May Collapse This Month</a></li>
</ul>
Photo courtesy: Shutterstock

LSCC

SMCI

Archer-Daniels-Midland, Yum! Brands And 3 Stocks To Watch Heading Into Tuesday

JP Morgan analyst Tami Zakaria maintains Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) with a Underweight and raises the price target from $285 to $340.

Price Target

Analyst Ratings

JP Morgan Maintains Underweight on Cummins, Raises Price Target to $340

Citigroup analyst Kyle Menges maintains Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) with a Buy and raises the price target from $345 to $375.

Citigroup Maintains Buy on Cummins, Raises Price Target to $375

Across the recent three months, 6 analysts have shared their insights on Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>), expressing a variety of opinions spanning from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Cummins and provided 12-month price targets. The average target is $320.67, accompanied by a high estimate of $371.00 and a low estimate of $285.00. This current average has increased by 7.91% from the previous average price target of $297.17. 
<img src="https://www.benzinga.com/files/images/story/2024/1728504037_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The perception of Cummins by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$371.00</td>
<td>$349.00</td>
</tr>
<tr>
<td>David Raso</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$294.00</td>
<td>$290.00</td>
</tr>
<tr>
<td>Adam Seiden</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$310.00</td>
<td>$259.00</td>
</tr>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$349.00</td>
<td>$315.00</td>
</tr>
<tr>
<td>Tami Zakaria</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$285.00</td>
<td>$275.00</td>
</tr>
<tr>
<td>David Leiker</td>
<td>Baird</td>
<td>Raises</td>
<td>Neutral</td>
<td>$315.00</td>
<td>$295.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Cummins. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Cummins compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Cummins's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/CMI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Cummins analyst ratings.</a>
<h2>About Cummins</h2>
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.
<h3>Financial Insights: Cummins</h3>
Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.
Revenue Growth: Over the 3 months period, Cummins showcased positive performance, achieving a revenue growth rate of 1.83% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Industrials sector.
Net Margin: Cummins's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 8.25% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Cummins's ROE stands out, surpassing industry averages. With an impressive ROE of 7.8%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 2.3%, the company showcases effective utilization of assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.83.
<h2>What Are Analyst Ratings?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Latest Analyst Ratings For Cummins

Truist Securities analyst Jamie Cook maintains Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) with a Hold and raises the price target from $349 to $371.

Truist Securities Maintains Hold on Cummins, Raises Price Target to $371

Tropical Storm Helene is forecasted to turn <a href="https://www.benzinga.com/markets/equities/24/08/40259269/storm-debby-headed-for-nyc-highly-populated-areas-as-catastrophic-flooding-persists">into a hurricane</a> as it makes landfall over Florida on Thursday.
The storm was located about 60 miles northeast of Cozumel, Mexico, Wednesday morning, moving northwest at 9 mph with maximum sustained winds of 70 mph, according to the National Weather Service (NWS).
The storm is expected to strengthen into a hurricane as it passes over the Gulf of Mexico&#8217;s eastern coast later Wednesday and into Thursday and reaches the Big Bend of Florida late Thursday.
The NWS has already issued a tropical storm warning for all of the Florida Keys, the state&#8217;s west coast from Flamingo to Anclote River, including Tampa Bay, and the Florida east coast from Flamingo northward to Altamaha Sound, Georgia. 
Read Also: <a href="https://www.benzinga.com/markets/equities/24/09/40982087/shell-braces-for-tropical-storm-35-prepares-major-gulf-of-mexico-oil-fields-for-shut-down">Shell Braces For Tropical Storm 35: Prepares Major Gulf Of Mexico Oil Fields For Shut Down</a>
Helene is forecasted to produce 5 to 10 inches of rain, with isolated totals of 15 inches over the southeastern U.S. This will likely result in considerable urban and flash flooding and significant river flooding. It may also cause landslides in steep terrain areas in the southern Appalachians.
Helene is also expected to bring 4 to 8 inches of rain to Cuba, the Cayman Islands and the northern Yucatan Peninsula before reaching the U.S.
Price Action: The approaching storm has impacted stocks of generator producers, retailers, and utility companies with a presence or a subsidiary in Florida.
Generators
<ul>
<li>Generac Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) slipped 0.45% to $150.16</li>
<li>Cummins Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) declined 0.55% to $321.78</li>
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Retail Sales

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A significant insider transaction involving the exercise of company stock options was reported on August 27, by Tony Satterthwaite, Senior Vice President at Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>), as per the latest SEC filing.
What Happened: In an insider options sale disclosed in a Form 4 filing on Tuesday with the <a href="https://www.sec.gov/Archives/edgar/data/0000026172/000122520824008258//Archives/edgar/data/26172/000122520824008258/0001225208-24-008258-index.htm">U.S. Securities and Exchange Commission</a>, Satterthwaite, Senior Vice President at Cummins, exercised stock options for 24,250 shares of CMI. The transaction value amounted to $4,784,040.
The Wednesday morning update indicates Cummins shares down by 0.0%, currently priced at $306.37. At this value, Satterthwaite's 24,250 shares are worth $4,784,040.
<h3>All You Need to Know About Cummins</h3>
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.
<h3>A Deep Dive into Cummins's Financials</h3>
Revenue Growth: Cummins's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 1.83%. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Industrials sector.
Key Profitability Indicators:
<ul>
<li>
Gross Margin: Achieving a high gross margin of 24.93%, the company performs well in terms of cost management and profitability within its sector.
</li>
<li>
Earnings per Share (EPS): Cummins's EPS outshines the industry average, indicating a strong bottom-line trend with a current EPS of 5.3.
</li>
</ul>
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.83.
Understanding Financial Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: A higher-than-average P/E ratio of 21.93 suggests caution, as the stock may be overvalued in the eyes of investors.
</li>
<li>
Price to Sales (P/S) Ratio: The current P/S ratio of 1.27 is above industry norms, reflecting an elevated valuation for Cummins's stock and potential overvaluation based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): At 11.16, the company's EV/EBITDA ratio outperforms industry norms, reflecting positive market perception. This positioning indicates optimistic expectations for the company's future performance.
</li>
</ul>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
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<h3>Uncovering the Importance of Insider Activity</h3>
Insider transactions serve as a piece of the puzzle in investment decisions, rather than the entire picture.
In the context of legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as outlined by Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are obligated to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Despite insider sells not always signaling a bearish sentiment, they can be driven by various factors.
<h3>Essential Transaction Codes Unveiled</h3>
When analyzing transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> tend to focus on those in the open market, detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase,while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000026172">Check Out The Full List Of Cummins's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Tony Satterthwaite Exercises Options, Realizes $4.78M

Evercore ISI Group analyst David Raso maintains Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) with a In-Line and raises the price target from $290 to $294.

Evercore ISI Group Maintains In-Line on Cummins, Raises Price Target to $294

WIIM

Cummins shares are trading higher after Barclays raised its price target on the stock from $259 to $310.

Barclays analyst Adam Seiden maintains Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) with a Equal-Weight and raises the price target from $259 to $310.

Barclays Maintains Equal-Weight on Cummins, Raises Price Target to $310

During the last three months, 7 analysts shared their evaluations of Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>), revealing diverse outlooks from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Cummins, revealing an average target of $313.57, a high estimate of $349.00, and a low estimate of $285.00. Marking an increase of 4.81%, the current average surpasses the previous average price target of $299.17. 
<img src="https://www.benzinga.com/files/images/story/2024/1722888019_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
A clear picture of Cummins's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$349.00</td>
<td>$315.00</td>
</tr>
<tr>
<td>Tami Zakaria</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$285.00</td>
<td>$275.00</td>
</tr>
<tr>
<td>David Leiker</td>
<td>Baird</td>
<td>Raises</td>
<td>Neutral</td>
<td>$315.00</td>
<td>$295.00</td>
</tr>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$315.00</td>
<td>$319.00</td>
</tr>
<tr>
<td>Kyle Menges</td>
<td>Citigroup</td>
<td>Announces</td>
<td>Buy</td>
<td>$320.00</td>
<td>-</td>
</tr>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Maintains</td>
<td>Hold</td>
<td>$319.00</td>
<td>$319.00</td>
</tr>
<tr>
<td>Matt Elkott</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$292.00</td>
<td>$272.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Cummins. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Cummins compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Cummins's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Cummins's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/CMI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Cummins analyst ratings.</a>
<h2>Delving into Cummins's Background</h2>
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.
<h3>A Deep Dive into Cummins's Financials</h3>
Market Capitalization Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Revenue Growth: Cummins displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 1.83%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Industrials sector.
Net Margin: Cummins's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 8.25%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Cummins's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 7.8% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Cummins's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 2.3%, the company showcases efficient use of assets and strong financial health.
Debt Management: Cummins's debt-to-equity ratio is below the industry average. With a ratio of 0.83, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>What Are Analyst Ratings?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

7 Analysts Assess Cummins: What You Need To Know

Truist Securities analyst Jamie Cook maintains Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) with a Hold and raises the price target from $315 to $349.

Truist Securities Maintains Hold on Cummins, Raises Price Target to $349

JP Morgan analyst Tami Zakaria maintains Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) with a Underweight and raises the price target from $275 to $285.

JP Morgan Maintains Underweight on Cummins, Raises Price Target to $285

GTES

Shares of machinery companies are trading lower amid overall market weakness following weak US data.

Baird analyst David Leiker maintains Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) with a Neutral and raises the price target from $295 to $315.

Baird Maintains Neutral on Cummins, Raises Price Target to $315

Dividend per share market pricing is 'too pessimistic' says Goldman, lists high dividend yield and growth stocks

CVS Health, Apollo Global Management, And Novo Nordisk Reported Results

Wall Street Week Ahead

Earnings week ahead: O, PLTR, QCOM, SQ, AMC, PARA, LCID, RIVN, WBD, and more

Cummins Q3 2024 Earnings Preview

Here's the major earnings before the open tomorrow

A Packed Week: Peak Earnings Season, A U.S. Presidential Election And A Fed Decision

Cummins GAAP EPS of $5.86 beats by $1.02, revenue of $8.46B beats by $150M

Reports Q3 revenue $8.5B, consensus $8.29B…EBITDA in the third quarter was 16.4% of sales; Diluted EPS of $5.86…"We achieved strong sales and profi...

Cummins reports Q3 EPS $5.86 , consensus $4.80

Based on its current forecast, Cummins (CMI) is maintaining its full-year 2024 revenue guidance to be in the range of down 3% to flat. EBITDA is ex...

Cummins sees FY24 revenue down 3% to flat, consensus $33.62B

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Press Releases

Cummins Reports Strong Second Quarter 2024 Results

CUMMINS INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Cummins Inc. - CMI

Cummins Inc. Declares Quarterly Common Stock Dividend

Legal

Rosen Law Firm Issues Updated Notice In Securities Class Action Lawsuit on Behalf of Cummins Inc. Investors – CMI

CMI INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Cummins Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

CMI INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces That Cummins Inc. Investors With Substantial Losses Have Opportunity to Lead Class Action Lawsuit

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