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Cummins, Inc.
Type
Public
Traded as
  • NYSE: CMI
  • S&P 500 Component
Industry Heavy equipment
Founded 1919; 98 years ago (1919)
Founder Clessie Lyle Cummins
Headquarters Cummins Corporate Office Building
500 Jackson Street
Columbus, Indiana, U.S.
Key people
Tom Linebarger
(Chairman and CEO)
Rich Freeland
(President and COO)
Products Engines, Filtration, Power Generation, Turbo Technologies
Revenue IncreaseUS$19,200,000,000 (2014)
Net income
IncreaseUS$1,650,000,000 (2014)
Total assets US$12,500,000,000 (2012)
Total equity US$6,600,000,000 (2012)
Number of employees
54,600
Website www.cummins.com

Cummins, Inc. is an American Fortune 500 corporation that designs, manufactures, and distributes engines, filtration, and power generation products. Cummins also services engines and related equipment, including fuel systems, controls, air handling, filtration, emission control and electrical power generation systems. Headquartered in Columbus, Indiana, United States, Cummins sells in approximately 190 countries and territories through a network of more than 600 company-owned and independent distributors and approximately 6,000 dealers. Cummins reported net income of $1.65 billion on sales of $19.2 billion in 2014.

The Cummins Engine Company was founded in Columbus, Indiana, in 1919 by Clessie Cummins, a local mechanic. It focused on developing the diesel engine invented 20 years earlier, but in spite of several well publicized endurance trials it was not until 1933 that their Model H, used in small railroad switchers, proved successful. In the post-World War II U.S. road building boom Cummins N Series engines became the industry leader, with more than half the heavy duty truck market from 1952 to 1959. In the 1960s the company opened an assembly plant in Shotts, Scotland. By 2013 they had operations in 197 countries and territories.

Cummins Engine Business Unit consists of Aftermarket support, Mid-Range, Heavy-Duty, and High-Horsepower Engines. Cummins manufactures and markets a complete line of diesel and natural gas-powered engines for on-highway and off-highway use. Its markets include heavy-and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and a number of industrial uses including, construction, mining, marine, oil and gas, railroad and military equipment.

For the general public, the most visible Cummins product may be the 5.9-liter in-line six-cylinder engine used in the Dodge Ram light duty pickups starting in 1989. In 2007, a 6.7-liter version of the Cummins straight six engine became optional on the RAM pickup. In 2008, Cummins was a named defendant in a class action suit related to 1998-2001 model year Chrysler Dodge Ram trucks, model 2500 or 3500, originally equipped with a Cummins ISB 5.9 liter diesel engine built using a pattern 53 Block. The case has been settled, but some qualified Chrysler owners may receive $500 for repairs to the block, which was alleged to crack and create a coolant leak.

In April 2013, Cummins utilized technology developed by Westport Innovations to begin shipping large natural gas fueled engines to truck manufacturers in the United States as trucking companies began converting portions of their fleets to natural gas and the natural gas distribution network in the United States began to expand.

Cummins has a Technical Centre in Darlington UK, where it develops products for the European, Middle Eastern and Asian markets.

Cummins Power Systems Business Unit consists of Alternators, Automatic Transfer Switches, Commercial Power Systems, Consumer Systems, Engines, and Paralleling Systems. Cummins Power Systems is a global provider of power generation systems, components and services in standby power, distributed power generation, as well as auxiliary power in mobile applications to meet the needs of a diversified customer base.

All of the above solutions stem from Cummins Onan, of which products are still in service today.

This Business Unit was formed recently, following a merge of the Power Generation Unit and High Horsepower Sub-Division.

Cummins Component Business Unit consists of Emission Solutions, Filtration (Fleetguard), Fuel Systems, Turbo Technologies (Holset), and Electronics. With regards to Turbo Technologies, Cummins designs and manufactures turbochargers and related products, on a global scale, for diesel engines above 3 liters. In regard to Emission Solutions, Cummins develops and supplies catalytic exhaust systems and related products to the medium-and heavy-duty commercial diesel engine markets. In regard to Filtration, Cummins designs, manufactures and distributes heavy-duty and light-duty air, fuel, hydraulic and lube filtration, chemicals and exhaust system technology products for diesel and gas-powered equipment. With regards to Electronics, Cummins designs engine control units and sensors for Cummins diesel engines.

Cummins Distribution Business consists of Engine and Power Generation Distribution as well as Service and Parts. The distribution unit of Cummins consists of 17 Cummins owned distributors and 10 joint ventures, covering 90 countries and territories through 234 locations.

The Holset Engineering Co. was a British company that produced turbochargers, primarily for diesel and heavy duty application

In 1973 the company was purchased by Cummins after briefly being owned by the Hanson Trust. Holset now operates facilities in China, India, Brazil, the Netherlands, the United Kingdom, and the United States.

In 2006, the division officially changed its name to Cummins Turbo Technologies to be identified more closely with its parent company. The turbocharger products still use the Holset brand name.

In 1986, Cummins began acquisition of Onan and completed it in 1992. Since then, Onan has evolved into Cummins Power Generation ( now Cummins Power Systems), a wholly invested division of Cummins. The Onan name continues to be used for modern versions of their traditional engine-driven generators for RV, marine, commercial mobility, home standby, and portable use.

Exhaust and emissions after-treatment company Nelson Industries was purchased in 1999, due to the increasing importance of exhaust after-treatment systems for meeting future emissions standards. The division officially changed its name to Cummins Emission Solutions, in order to be identified more closely with their parent company.

Cummins have some joint venture with Chinese manufacturer, such as Dengfeng Cummins, a joint venture with Dongfeng Automobile Company, as well as Guangxi Cummins Industrial Power with LiuGong.

Other entities were Cummins Beijing, Chongqing Cummins Engine, Xi’an Cummins Engine, Wuxi Newage Alternators, Xiangfan Fleetguard, Wuxi Cummins Turbo Technologies.

Cummins began its India operations on 17 February 1962 in a joint venture with the Kirloskar Group. The ownership structure of the joint venture was divided as follows:

As of 2013, the Cummins group had revenues of over $1.5 billion, 20 factories and 9000 employees in India.

Cummins does a significant part of its R&D in India at the Cummins Research and Technology centre that was set up in 2003. Also, Cummins is building an advanced technical centre in Pune which will house over 2000 engineers.

Cummins India has also made significant contributions to local skill development by establishing the MKSSS's Cummins College of Engineering for Women, a women-only engineering college in Pune.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2021-02-02 Future report Set alerts
Q3 2020 2020-10-27 Future report Set alerts
Q2 2020 2020-07-28 1.95 1.86
Q1 2020 2020-04-28 3.18 3.41
Q4 2019 2020-02-04 2.56 1.97
Q3 2019 2019-10-29 3.83 3.97
Q2 2019 2019-07-30 4.27 4.27
Q1 2019 2019-04-30 4.20 4.20
Q4 2018 2019-02-06 3.48 3.63
Q3 2018 2018-10-30 4.05 4.28

Ratings

2016-07-07 Reiterated Rating Jefferies Group Hold $115.00
2016-05-14 Reiterated Rating Citigroup Inc. Hold
2016-05-13 Boost Price Target Citigroup Inc. Neutral $100.00 to $115.00
2016-05-04 Reiterated Rating RBC Capital Sector Perform $98.00 to $112.00
2016-05-04 Reiterated Rating Royal Bank Of Canada Sector Perform $98.00 to $112.00
2016-05-03 Boost Price Target Credit Suisse Outperform $125.00 to $130.00
2016-05-03 Boost Price Target Avondale Partners Market Perform $80.00 to $100.00
2016-05-03 Boost Price Target Credit Suisse Group AG Outperform $125.00 to $130.00
2016-04-21 Boost Price Target Piper Jaffray Overweight $114.00 to $132.00
2016-04-21 Downgrade Robert W. Baird Neutral to Underperform $96.00 to $110.00
2016-04-21 Boost Price Target Piper Jaffray Cos. Overweight $114.00 to $132.00
2016-04-18 Upgrade Bank of America Underperform to Neutral $96.00 to $122.00
2016-04-18 Upgrade Bank of America Corp. Underperform to Neutral $96.00 to $122.00
2016-04-14 Reiterated Rating Barclays Sell
2016-04-14 Reiterated Rating Barclays PLC Sell
2016-04-13 Reiterated Rating Barclays Underweight $88.00 to $90.00
2016-04-11 Downgrade Macquarie Outperform to Neutral
2016-04-06 Downgrade Buckingham Research Buy to Neutral $100.00 to $95.00
2016-03-28 Boost Price Target Goldman Sachs $94.00 to $115.00
2016-03-28 Boost Price Target Goldman Sachs Group Inc. $94.00 to $115.00
2016-03-15 Initiated Coverage RBC Capital Sector Perform $98.00
2016-02-08 Reiterated Rating William Blair Market Perform $95.00
2016-02-05 Lower Price Target Macquarie Outperform $111.00 to $99.00
2016-02-05 Lower Price Target Susquehanna Neutral $91.00 to $88.00
2016-02-05 Boost Price Target Robert W. Baird Neutral $93.00 to $96.00
2016-02-05 Boost Price Target Deutsche Bank Hold $87.00 to $93.00
2016-02-05 Boost Price Target Deutsche Bank AG Hold $87.00 to $93.00
2016-01-25 Reiterated Rating Longbow Research Neutral
2016-01-25 Downgrade Citigroup Inc. Buy to Neutral $95.00
2016-01-19 Lower Price Target Barclays Underweight $91.00 to $88.00
2016-01-13 Lower Price Target Credit Suisse $116.00 to $98.00
2016-01-07 Lower Price Target Jefferies Group Hold $100.00
2016-01-05 Lower Price Target Piper Jaffray Overweight $123.00 to $115.00
2015-12-22 Lower Price Target Susquehanna Neutral $106.00 to $91.00
2015-12-17 Lower Price Target Deutsche Bank Hold $102.00 to $87.00
2015-12-03 Reiterated Rating Cleveland Research Neutral
2015-12-02 Downgrade Bank of America Buy to Sell
2015-12-01 Reiterated Rating Bank of America Buy to Underperform $115.00 to $90.00
2015-11-11 Reiterated Rating Deutsche Bank Hold $108.00 to $102.00
2015-10-30 Lower Price Target BMO Capital Markets Hold $110.00 to $92.00
2015-10-28 Lower Price Target Macquarie Outperform $135.00 to $118.00
2015-10-28 Lower Price Target Deutsche Bank Hold $123.00 to $108.00
2015-10-28 Lower Price Target Barclays Underweight $99.00 to $91.00
2015-10-28 Lower Price Target Argus Buy $135.00 to $120.00
2015-10-28 Downgrade Robert W. Baird Outperform to Neutral $162.00 to $118.00
2015-10-28 Downgrade Morgan Stanley Equal Weight to Underweight $112.00 to $79.00
2015-10-15 Lower Price Target Robert W. Baird $162.00
2015-10-09 Lower Price Target JPMorgan Chase & Co. $131.00 to $110.00
2015-10-06 Downgrade BMO Capital Markets Outperform to Market Perform $140.00 to $110.00
2015-10-02 Lower Price Target Credit Suisse Outperform $148.00 to $124.00
2015-09-28 Downgrade BB&T Corp. Buy to Hold $10.35
2015-09-25 Downgrade William Blair Outperform to Market Perform
2015-09-24 Initiated Coverage Barclays Underweight
2015-09-22 Downgrade Deutsche Bank Buy to Hold $154.00 to $123.00
2015-08-26 Lower Price Target BMO Capital Markets Outperform $145.00 to $140.00
2015-08-25 Reiterated Rating Deutsche Bank Buy $154.00
2015-08-21 Upgrade Standpoint Research Hold to Buy $148.00
2015-08-04 Reiterated Rating Evercore Partners Inc. Buy to Hold
2015-08-04 Downgrade Evercore ISI Buy to Hold $148.00 to $135.00
2015-07-29 Lower Price Target Susquehanna Neutral $143.00 to $140.00
2015-07-28 Reiterated Rating S&P Equity Research Buy $180.00
2015-07-28 Reiterated Rating BMO Capital Markets Buy $145.00
2015-07-21 Reiterated Rating Citigroup Inc. Buy $160.00 to $155.00
2015-06-12 Reiterated Rating Piper Jaffray Overweight $162.00
2015-06-05 Reiterated Rating Longbow Research Neutral
2015-04-16 Downgrade Wolfe Research Market Perform to Underperform
2015-04-15 Downgrade Stifel Nicolaus Buy to Hold $157.00
2015-04-08 Downgrade Goldman Sachs Buy to Neutral $136.76 to $155.00
2015-03-30 Reiterated Rating Deutsche Bank Buy $154.00
2015-03-24 Upgrade Robert W. Baird Neutral to Outperform $154.00 to $166.00
2015-03-04 Initiated Coverage Macquarie Outperform $165.00
2015-02-09 Downgrade Susquehanna Positive to Neutral $168.00 to $148.00
2015-02-09 Downgrade Atlantic Securities Overweight to Neutral
2015-02-06 Lower Price Target Barclays Overweight $176.00 to $165.00
2015-02-06 Lower Price Target Citigroup Inc. Buy $165.00 to $160.00
2015-02-06 Lower Price Target Deutsche Bank Buy $164.00 to $154.00
2015-02-05 Set Price Target BMO Capital Markets Buy $162.00
2015-01-27 Downgrade First Global Outperform to Market Perform
2015-01-20 Set Price Target Piper Jaffray Buy $173.00
2015-01-08 Upgrade Bank of America Neutral to Buy $158.00 to $160.00
2014-12-08 Boost Price Target Barclays Overweight $161.00 to $176.00
2014-11-12 Downgrade Standpoint Research Buy to Hold
2014-10-30 Reiterated Rating Citigroup Inc. Buy $163.00 to $165.00
2014-10-29 Reiterated Rating Barclays Overweight $159.00 to $161.00
2014-10-29 Reiterated Rating Credit Suisse Outperform $156.00 to $160.00
2014-10-27 Downgrade Wolfe Research Outperform to Market Perform
2014-10-20 Reiterated Rating Deutsche Bank Buy $170.00 to $164.00
2014-10-15 Upgrade Standpoint Research Hold to Buy $148.00
2014-10-13 Reiterated Rating Barclays Overweight $167.00 to $159.00
2014-10-08 Initiated Stifel Buy $160
2014-10-08 Initiated Coverage Stifel Nicolaus Buy $160.00
2014-10-07 Downgrade Bank of America Buy to Neutral $165.00 to $150.00
2014-07-29 Boost Price Target Morgan Stanley $2.00 to $174.00
2014-07-29 Boost Price Target Robert W. Baird Neutral $150.00 to $160.00
2014-07-29 Boost Price Target Credit Suisse Outperform $161.00 to $167.00
2014-07-10 Reiterated Rating JPMorgan Chase & Co. Hold $145.00 to $156.00
2014-07-09 Downgrade Goldman Sachs Conviction-Buy to Buy
2014-07-03 Reiterated Rating Argus Buy $170.00
2014-04-30 Reiterated Rating Barclays Overweight $167.00
2014-04-30 Boost Price Target Robert W. Baird $144.00 to $150.00
2014-04-30 Boost Price Target William Blair Outperform $165.00 to $175.00
2014-04-30 Boost Price Target Jefferies Group Hold $130.00 to $145.00
2014-04-22 Boost Price Target Robert W. Baird $139.00 to $144.00
2014-04-10 Reiterated Rating JPMorgan Chase & Co. Neutral $128.00 to $140.00
2014-04-01 Boost Price Target BMO Capital Markets Outperform $144.00 to $160.00
2014-03-31 Initiated Coverage Argus Buy $162.00
2014-03-31 Reiterated Rating Deutsche Bank Buy $170.00
2014-03-11 Boost Price Target Citigroup Inc. Buy $145.00 to $163.00
2014-02-27 Initiated Coverage Morgan Stanley Equal Weight
2014-02-24 Upgrade Evercore ISI Neutral to Buy $161.00
2014-02-20 Initiated Coverage Deutsche Bank Buy $170.00
2014-02-10 Downgrade S&P Equity Research Strong-Buy to Hold
2014-02-07 Lower Price Target Credit Suisse Outperform $156.00 to $146.00
2014-02-07 Boost Price Target Robert W. Baird $131.00 to $139.00
2014-02-07 Upgrade Wells Fargo & Co. Market Perform to Outperform
2014-02-07 Upgrade Wells Fargo Market Perform to Outperform
2014-01-17 Initiated Coverage Wolfe Research Outperform
2014-01-17 Initiated Coverage Susquehanna Positive $165.00
2014-01-13 Boost Price Target Barclays Overweight $137.00 to $165.00
2013-12-16 Initiated Coverage Bank of America Buy $158.00
2013-11-07 Downgrade Evercore ISI Buy to Neutral
2013-10-30 Lower Price Target Barclays Overweight $140.00 to $137.00
2013-10-30 Reiterated Rating Jefferies Group Hold $130.00
2013-10-29 Downgrade Robert W. Baird Outperform to Neutral $138.00 to $131.00
2013-09-19 Boost Price Target Jefferies Group Hold $120.00 to $130.00
2013-09-18 Boost Price Target BMO Capital Markets Outperform $135.00 to $146.00
2013-09-18 Reiterated Rating Goldman Sachs Conviction-Buy
2013-09-16 Reiterated Rating Credit Suisse Buy $136.00
2013-09-16 Boost Price Target Barclays Overweight $134.00 to $140.00
2013-07-11 Initiated BB&T Capital Mkts Buy $135
2012-12-05 Initiated Robert W. Baird Outperform $119
2012-07-17 Reiterated UBS Buy $130 to $110
2012-05-17 Upgrade Standpoint Research Hold to Buy
2011-12-16 Initiated Standpoint Research Buy $110
2010-12-10 Reiterated Barclays Capital Overweight $113 to $120
2016-07-07 Reiterated Rating Jefferies Group Hold $115.00
2016-05-14 Reiterated Rating Citigroup Inc. Hold
2016-05-13 Boost Price Target Citigroup Inc. Neutral $100.00 to $115.00
2016-05-04 Reiterated Rating RBC Capital Sector Perform $98.00 to $112.00
2016-05-04 Reiterated Rating Royal Bank Of Canada Sector Perform $98.00 to $112.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
LINEBARGER NORMAN THOMAS Chairman & CEO 0.04%  (68592) CMI / HOG /
MILLER WILLIAM I 0.02%  (41260) CMI /
Satterthwaite Tony President - Power Generation 0.02%  (40240) CMI /
HERMAN ALEXIS M 0.02%  (29655) CMI / ETR / KO /
WALL JOHN C VP-Chief Technical Officer 0.01%  (18284) CMI /
ROSE MARYA M V.P. - CAO 0.01%  (17714) CMI /
NELSON GEORGIA R 0.01%  (16511) BLL / CMI /
Carter Pamela L President-Distribution 0.01%  (15020) BR / CMI / CSX / ENB / SE /
WARE CARL 0.01%  (14237) CMI / CVX /
Talaulicar Anant VP & President - Components 0.01%  (13029) CMI /
Bernhard Robert J 0.01%  (12464) CMI /
HERDMAN ROBERT 0.01%  (12250) CMI / WPX /
Cook Jill E VP-Human Resources 0.01%  (11029) CMI /
HARRIS RICHARD E VP - Chief Investment Officer 0.01%  (10426) CMI /
Levett Mark A Ex. VP-Cty Rel 0.01%  (9535) CMI /

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