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CMI Cummins

Cummins, Inc. designs, manufactures and markets diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems and New Power. The Engine segment manufactures and markets diesel and natural gas powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, agricultural, construction, mining, marine, oil and gas, rail and governmental equipment markets. The Distribution segment consists of parts, engines, power generation and service, which service and distributes its products and services. The Components segment supplies products such as, aftertreatment systems, turbochargers, transmissions, filtration products, electronics and fuel systems for commercial diesel and natural gas applications. The Power Systems segment engages in power generation, industrial and generator technologies. The New Power segment designs, manufactures, sells and supports electrified power systems with components and subsystems, including battery, fuel cell and hydrogen production technologies. The company was founded by Clessie Lyle Cummins and William Glanton Irwin on February 3, 1919 and is headquartered in Columbus, IN.

Company profile

Ticker
CMI
Exchange
CEO
Norman Thomas Linebarger
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CUMMINS ENGINE CO INC
SEC CIK
IRS number
350257090

CMI stock data

(
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Calendar

10 Feb 21
17 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Cummins earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Mar 21 Srikanth Padmanabhan Common Stock Grant Aquire A No No 0 4,408 0 15,196
1 Mar 21 Amy Rochelle Davis Common Stock Grant Aquire A No No 0 6,612 0 7,695.013

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

82.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 1143 1054 +8.4%
Opened positions 167 135 +23.7%
Closed positions 78 73 +6.8%
Increased positions 408 341 +19.6%
Reduced positions 388 425 -8.7%
13F shares
Current Prev Q Change
Total value 27.55B 30.39B -9.3%
Total shares 121.33M 119.96M +1.1%
Total puts 1.31M 1.11M +18.0%
Total calls 885.98K 949.85K -6.7%
Total put/call ratio 1.5 1.2 +26.6%
Largest owners
Shares Value Change
BLK Blackrock 13.03M $2.96B +1.9%
Vanguard 12.98M $2.95B -0.2%
STT State Street 7.01M $1.59B -1.7%
TROW T. Rowe Price 5.1M $1.16B -17.0%
Capital Research Global Investors 2.94M $668.25M -3.1%
FMR 2.72M $616.64M +148.6%
Geode Capital Management 2.7M $611.46M +0.4%
LSV Asset Management 2.46M $558.5M -10.0%
NTRS Northern Trust 2.22M $503.36M -1.7%
Charles Schwab Investment Management 2.17M $492.75M +8.1%
Largest transactions
Shares Bought/sold Change
Norges Bank 1.98M +1.98M NEW
FMR 2.72M +1.62M +148.6%
AIG American International 76.39K -1.1M -93.5%
TROW T. Rowe Price 5.1M -1.05M -17.0%
PRU Prudential Financial 714.82K +525.32K +277.2%
FIL 1.71K -513.43K -99.7%
BEN Franklin Resources 1.6M -508.84K -24.2%
WFC Wells Fargo & Co. 921.15K -462.69K -33.4%
MNGPF Man 456.53K +429.45K +1585.7%
Harris Associates L P 883.33K -412.4K -31.8%

Financial report summary

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Risks
  • We are conducting a formal internal review of our emission certification process and compliance with emission standards with respect to our pick-up truck applications and are working with the EPA and CARB to address their questions about these applications. The results of this formal review and regulatory processes, or the discovery of any noncompliance issues, could have a material adverse impact on our results of operations and cash flows.
  • We operate our business on a global basis and policy changes affecting international trade could adversely impact the demand for our products and our competitive position.
  • The U.K.’s exit from the European Union (EU) could materially and adversely impact our results of operations, financial condition and cash flows.
  • Unanticipated changes in our effective tax rate, the adoption of new tax legislation or exposure to additional income tax liabilities could adversely affect our profitability.
  • Our global operations are subject to laws and regulations that impose significant compliance costs and create reputational and legal risk.
  • Our operations are subject to increasingly stringent environmental laws and regulations.
  • Future bans or limitations on the use of diesel-powered vehicles or other applications could have a material adverse impact on our business over the long term.
  • We are vulnerable to supply shortages from single-sourced suppliers, including suppliers that may be impacted by the COVID-19 pandemic, and any delay in receiving critical supplies could have a material adverse effect on our results of operations, financial condition and cash flows.
  • A sustained market slowdown due to the impacts from the COVID-19 pandemic, other public health crises, epidemics or pandemics or otherwise, could have a material and adverse effect on our results of operations, financial condition and cash flows.
  • Our manufacturing and supply chain abilities may be materially and adversely impacted by an extended shutdown or disruption of our operations due to the COVID-19 pandemic which could materially and adversely affect our results of operations, financial condition and cash flows.
  • We face the challenge of accurately aligning our capacity with our demand.
  • Our truck manufacturers and OEM customers discontinuing outsourcing their engine supply needs, financial distress, particularly related to the COVID-19 pandemic or bankruptcy, or a change-in-control of one of our large truck OEM customers could have a material adverse impact on our results of operations, financial condition and cash flows.
  • A slowdown in infrastructure development and/or depressed commodity prices could adversely affect our business.
  • We may fail to realize all of the expected enhanced revenue, earnings and cash flow from our investment in the Eaton Cummins Automated Transmission Technologies joint venture.
  • We derive significant earnings from investees that we do not directly control, with more than 50 percent of these earnings from our China-based investees.
  • Our products are subject to recall for performance or safety-related issues.
  • Lower-than-anticipated market acceptance of our new or existing products or services could have a material adverse impact on our results of operations, financial condition and cash flows.
  • Our products are exposed to variability in material and commodity costs.
  • Our business is exposed to potential product liability claims.
  • The COVID-19 pandemic created disruptions and turmoil in global credit and financial markets and ongoing impacts could have a material adverse effect on our results of operations, financial condition and cash flows.
  • We may be adversely impacted by work stoppages and other labor matters.
  • We rely on our executive leadership team and other key personnel as a critical part of our human capital resources.
  • Our plan to reposition our portfolio of product offerings through exploration of strategic acquisitions and divestitures may expose us to additional costs and risks.
  • Our information technology systems and our products are exposed to potential security breaches or other disruptions which may adversely impact our competitive position, reputation, results of operations, financial condition and cash flows.
  • We are exposed to political, economic and other risks that arise from operating a multinational business.
  • We face significant competition in the regions we serve.
  • Increasing global competition among our customers may affect our existing customer relationships and restrict our ability to benefit from some of our customers' growth.
  • We are subject to foreign currency exchange rate and other related risks.
  • Significant declines in future financial and stock market conditions, particularly those related to the global recession due to the COVID-19 pandemic, could diminish our pension plan asset performance and adversely impact our results of operations, financial condition and cash flow.
  • We are exposed to risks arising from the price and availability of energy.
Management Discussion
  • Worldwide revenues decreased 16 percent in 2020 compared to 2019, as we experienced lower demand in all major operating segments and most geographic regions due to the economic impacts of COVID-19 and the anticipated 2020 down cycle in most of our markets. Net sales in the U.S. and Canada declined by 21 percent primarily due to COVID-19 impacts resulting in decreased demand in the North American on-highway markets, which also negatively impacted our emission solutions, automated transmissions and turbo technologies businesses, reduced sales in all distribution product lines, decreased demand for power generation equipment and lower demand in off-highway markets (especially construction). International demand (excludes the U.S. and Canada) declined by 7 percent compared to 2019, with lower sales in all geographic regions except China. The decrease in international sales was principally due to COVID-19 impacts resulting in lower demand for industrial products (primarily international mining markets), decreased demand for power generation equipment, lower volumes in on-highway markets (mainly medium-duty truck markets), reduced demand in all distribution product lines and unfavorable foreign currency impacts of 2 percent of international sales (primarily the
Content analysis
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Positive
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8th grade Avg
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Patents

GRANT
Design
Routing guide
13 Apr 21
Inventors: Jacob D. Canik, Corey Verseman, Andrew Komisarek, Stephen James Kindem, Alexander Swendson
GRANT
Utility
High speed rotating crankcase ventilation filter media and media pack
13 Apr 21
Filter media and media packs that provide robust performance in high-speed rotating coalescer (HSRC) elements for crankcase ventilation systems are described.
GRANT
Utility
Pressure and flow control for fixed displacement pump in reductant dosing system
13 Apr 21
A reductant dosing system includes: a doser; a fixed displacement pump in fluid communication with the doser; a reductant source in fluid communication with the fixed displacement pump; and a controller communicatively coupled to the fixed displacement pump to control operation of the fixed displacement pump, wherein the controller is programmed to operate the fixed displacement pump using a pressure control system responsive to data indicative of the doser not dosing reductant and the controller is programmed to operate the fixed displacement pump using a flow control system responsive to data indicative of the doser dosing reductant.
GRANT
Utility
Systems and methods for heating reductant
13 Apr 21
An aftertreatment system includes a reductant source, a junction, a dosing pump module, a valve assembly, and a dosing module.
GRANT
Utility
Spark plug for an internal combustion engine having a combustion pre-chamber
13 Apr 21
A spark plug is disclosed that includes at least one bore extending through a shell of the spark plug in order to form a passageway between an annular volume around the spark plug insulator nose and a pre-chamber volume of a pre-chamber device, thus directing a purge of exhaust gases trapped in the annular volume to a space formed by the exterior of the spark plug body and the interior of the pre-chamber device.