Envestnet Portfolio Solutions Inc. and Janney Montgomery Scott LLC have sold shares of Cummins Inc. (CMI), while Morgan Stanley initiated coverage of Cummins with an 'Overweight' Recommendation, suggesting positive future growth. Despite some underperformance trends in the market, Cummins raised its long-term financial targets and increased its dividend yield to 2.3%. Moreover, the company announced its plans to acquire Faurecia's manufacturing plants, indicating an expansion in its manufacturing capabilities. Cummins missed the EPS and revenue expectations for Q1 2024, however, managed to surpass Q4 earnings and revenue expectations, indicative of an inconsistent financial performance. Notably, the company's Spinoff, Atmus, debuted impressively in the stock market. Insider sale trends from the company show VP - Chief Administrative Officer Sharon Barner selling a notable number of company shares. Lastly, the company's Rocky Mount Engine Plant announced a $580M project, which could potentially indicate significant business developments ahead.
Cummins CMI News Analytics from Tue, 26 Dec 2023 08:00:00 GMT to Sun, 19 May 2024 13:58:24 GMT -
Rating 3
- Innovation 6
- Information 5
- Rumor -3
