Recent developments concerning Cummins Inc. (CMI) have seen a lot of trading activity. The company, a major player in the automotive industry, specifically known for their engines and power systems, has both surpassed and missed earnings estimations in several quarters. These varied performances have resulted in multiple changes in the stock's price targets by various financial institutions.
It has been observed that institutional shareholders dominate the ownership of Cummins' shares, implying high confidence in the firm’s outlook amongst seasoned investors. Besides, Victory Capital Management Inc. and Raymond James Financial Services Advisors Inc. have increased their holdings in the company. However, certain institutions like M&T Bank Corp, Retirement Systems of Alabama, and Van ECK Associates Corp have reduced their stake.
Cummins had a strategic partnership over hydrogen engines and also finalized the separation of Atmus Filtration Technologies Inc., showcasing their continued efforts towards innovation and growth. Despite some setbacks in international demand, their commitment towards strategic gains is evident in their Q1 2024 reports. It is also noteworthy that they are facing a record-setting fine under the Clean Air Act and subsequent securities fraud lawsuits, adding an element of uncertainty to their current situation.
Cummins CMI News Analytics from Fri, 27 Oct 2023 07:00:00 GMT to Tue, 07 May 2024 01:32:00 GMT - Rating 1 - Innovation 4 - Information 9 - Rumor 3
