Short interest for Cummins gives investors a sense of the degree to which investors are betting on the decline of Cummins's stock. Short interest data is updated every two weeks.

Cummins Stock (NYSE:CMI), Short Interest Report

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.

CMI (1)

Earnings

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News

Guidance

Cummins reported a slight sales decline of 0.6% YoY in Q1 2024, missing consensus. Sales in NA were flat, international down 1%. Adjusted EPS of $5.10 missed consensus.

Cummins Q1 Revenue Falls Short As International Demand Weakens: Details

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The time it takes to fuel a hydrogen-powered fuel cell truck is already on par with diesel. But there is still a yawning gap when it comes to comparable driving range.

Really Cold Hydrogen Could Bring Driving Range Parity with Diesel

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Platform Science, a provider of connected vehicle solutions, announced on Tuesday a significant milestone in its growth journey, securing $125 million in funding aimed at bolstering its presence in the commercial trucking sector. 

Participating in this round are existing investors 8VC, NewRoad Capital Partners, and Prologis Ventures (NYSE: 

Platform Science Secures $125M to Grow OEM Partnerships

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<p>Cummins Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) and Isuzu Motors Limited (hereinafter "Isuzu"), a leading global truck manufacturer headquartered in Japan, are launching a new 6.7-liter engine jointly developed by the two companies, designed for use in Isuzu's new medium-duty truck lineup. The "Isuzu DB6A" will power on-highway truck applications built for the Japanese market and will be available for the Asia Pacific markets and other global markets later this year. The engine will be assembled at Isuzu's engine plant in Tochigi Prefecture, Japan.</p>


Global

Cummins And Isuzu Motors Launches New 6.7-Liter Engine For Japan, Southeast Asia And Other Global Markets

<p>TD Cowen  analyst Matt Elkott   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 $272 to $292.</p>


Price Target

Analyst Ratings

TD Cowen Maintains Buy on Cummins, Raises Price Target to $292

<p>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 $303 to $319.</p>


Truist Securities Maintains Hold on Cummins, Raises Price Target to $319

<p>7 analysts have expressed a variety of opinions on Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.</p>
<p>The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></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><strong>Last 30D</strong></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><strong>1M Ago</strong></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><strong>2M Ago</strong></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;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></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>
<p>Analysts have recently evaluated Cummins and provided 12-month price targets. The average target is $289.86, accompanied by a high estimate of $321.00 and a low estimate of $244.00. Observing a 11.27% increase, the current average has risen from the previous average price target of $260.50. </p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1714737616_0.png" alt="price target chart" /></p>
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
<p>An in-depth analysis of recent analyst actions unveils how financial experts perceive Cummins. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<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>David Leiker</td>
<td>Baird</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$295.00</td>
<td>$298.00</td>
</tr>
<tr>
<td>Jerry Revich</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Neutral</td>
<td>$306.00</td>
<td>$270.00</td>
</tr>
<tr>
<td>Tami Zakaria</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$275.00</td>
<td>$245.00</td>
</tr>
<tr>
<td>Steven Fisher</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$321.00</td>
<td>$254.00</td>
</tr>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Announces</td>
<td>Hold</td>
<td>$303.00</td>
<td>-</td>
</tr>
<tr>
<td>David Raso</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$244.00</td>
<td>$231.00</td>
</tr>
<tr>
<td>Timothy Thein</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$285.00</td>
<td>$265.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> 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><strong>Rating:</strong> Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Cummins compared to the broader market.</li>
<li><strong>Price Targets:</strong> Delving into movements, analysts provide estimates for the future value of Cummins's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
<p>Capture valuable insights into Cummins's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/CMI/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on Cummins analyst ratings.</strong></a></p>
<h2>Unveiling the Story Behind Cummins</h2>
<p>Cummins is the top manufacturer of diesel engines used in commercial trucks, off-highway equipment, 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.</p>
<h3>A Deep Dive into Cummins's Financials</h3>
<p><strong>Market Capitalization Highlights:</strong> Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.</p>
<p><strong>Positive Revenue Trend:</strong> Examining Cummins's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of <strong>9.95%</strong> as of 31 December, 2023, showcasing a substantial increase in top-line earnings. When compared to others in the Industrials sector, the company excelled with a growth rate higher than the average among peers.</p>
<p><strong>Net Margin:</strong> Cummins's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive <strong>-16.75%</strong> net margin, the company effectively manages costs and achieves strong profitability.</p>
<p><strong>Return on Equity (ROE):</strong> The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of <strong>-14.67%,</strong> the company may need to address challenges in generating satisfactory returns for shareholders.</p>
<p><strong>Return on Assets (ROA):</strong> The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of <strong>-4.46%,</strong> the company may need to address challenges in generating satisfactory returns from its assets.</p>
<p><strong>Debt Management:</strong> The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at <strong>0.81</strong>.</p>
<h2>What Are Analyst Ratings?</h2>
<p>Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.</p>
<p>Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


The Analyst Verdict: Cummins In The Eyes Of 7 Experts

<p>Baird  analyst David Leiker   maintains Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) with a Neutral and lowers the price target from $298 to $295.</p>


Baird Maintains Neutral on Cummins, Lowers Price Target to $295

<p><strong>Cummins Inc</strong>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) reported&nbsp;a first-quarter 2024 slight sales&nbsp;decline of 0.6% year-over-year to $8.401 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b38578802/cummins-reports-first-quarter-2024-results" rel="noreferrer noopener">missing the consensus of $8.449 billion.</a></p>
<p>The Columbus, Indiana-based company stated that sales in North America were flat YoY, and international revenues decreased by 1%, reflecting lower demand in China and Europe.</p>
<p>Adjusted EPS of $5.10&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">missed the consensus of $5.13.</a></p>
<p>The results included a net gain from the Atmus separation of $1.3 billion, or $9.08 per diluted share, after accounting for transaction costs and other expenses, and restructuring expenses of $29 million, or $0.15 per diluted share.</p>
<p>Sales by segments: Components $3.3 billion (-6% Y/Y), Engine $2.9 billion (-2% Y/Y), Distribution $2.5 billion (+5% Y/Y), Power Systems $1.4 billion (+3% Y/Y), and Accelera $93 million (+9% Y/Y).</p>
<p>Gross profit increased 0.6% Y/Y to $2.04 billion, and the margin expanded by 30 bps to 24.3%.</p>
<p>CMI reported an operating income of $923 million (-10% Y/Y), and the margin contracted by 115 bps to 10.9%.</p>
<p>Cummins&#8217; operating cash flow for the quarter totaled $276 million, compared to $495 million a year ago. CMI held cash and equivalents of $2.54 billion as of March-end.</p>
<p>EBITDA as a percentage of net sales was 30.6% compared to 16.1% in the same quarter of 2023.</p>
<p>&#8220;We have raised our expectations on revenue and profitability for 2024 due to continued demand for Cummins&#8217; products and services. We do still expect slowing demand in some of our key markets in the second half of the year,&#8221; commented Jennifer Rumsey, Chair and CEO.</p>
<p><strong>2024 Outlook:</strong>&nbsp;Cummins projects revenues to decline 2%-5% on a year-over-year basis and EBITDA margin to be in the range of 14.5%-15.5% (prior 14.4%-15.4%).</p>
<p><strong>Price Action:</strong> CMI shares are trading lower by 1.50% at $279.62 at the last check Thursday.</p>
<p><em>Photo via Wikimedia Commons</em></p>


Cummins CEO Says Co Is Raising Forecast For Heavy-Duty Trucks In North America To 255K-275K Units In 2024; Expect Softening In H2 Of Year

Cummins Sees 2024 Revenues Down 2-5%

<p>Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) reported quarterly earnings of $5.10 per share which missed the analyst consensus estimate of $5.13 by 0.58 percent.  The company reported quarterly sales of $8.403 billion which missed the analyst consensus estimate of $8.449 billion by 0.55 percent.  This is a 0.59 percent decrease over sales of $8.453 billion the same period last year.</p>


Earnings Misses

Cummins Q1 2024 Adj EPS $5.10 Misses $5.13 Estimate, Sales $8.403B Miss $8.449B Estimate

WIIM

CNHI

Shares of industrial and machinery stocks are trading lower amid overall market weakness. Some names in the sector may also be down in sympathy with PACCAR, which fell after reporting Q1 earnings.

<div>The time it takes to fuel a hydrogen-powered fuel cell truck is already on par with diesel. But there is still a yawning gap when it comes to comparable driving range. A new hydrogen storage system that packs more energy density might change that.</div>

<p>The goal of hydrogen and battery-electric trucks is to reduce the 12% of greenhouse gas emissions attributed to heavy-duty trucking.</p>

<h2 id="h-chill-out-verne-goes-deep-into-minus-celsius-for-cryo-compression"><strong>Chill out: Verne goes deep into minus celsius for cryo-compression</strong></h2>

<p>San Francisco-based startup Verne is named after 19th Century science fiction pioneer Jules Verne,. He predicted the eventual use of hydrogen as a fuel in his 1875 book The Mysterious Island.</p>

<p>Verne is developing high-density hydrogen storage systems. It says its cryo-compressed hydrogen technology (CcH2) could improve range and payload for hydrogen-powered fuel cell trucks and hydrogen internal combustion engines (ICE) by up to 87%.</p>

<p>Let's get the chemistry lesson out of the way first. The CcH2 comparison is to 700 bar. That's a metric unit for fueling that equates to slightly more than 10,000 pounds of pressure per square inch. At 350 bar, or 5,000 psi, Verne expects 200% greater hydrogen-storage density operating at less than 400 bar. Compared to liquid hydrogen, Verne projects 33% greater efficiency. </p>

<p>Cryo-compressed hydrogen is minus 200 degrees Celsius compared to compressed gaseous hydrogen. Gaseous hydrogen is kept at an ambient temperature of about 25 C. So, CcH2 is 225 C colder than compressed hydrogen. It is about 50 degrees Celsius warmer than liquid hydrogen, which is chilled to minus 253 C.</p>

<h2 id="h-comparisons-to-diesel-driving-range">Comparisons to diesel driving range</h2>

<p>For comparison, the Nikola (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nkla#NASDAQ">NKLA</a>) Tre fuel cell electric vehicle with a 200kW fuel cell advertises a maximum range of up to 500 miles on a liquid hydrogen fillup of 70kg at 700 bar. The Hyundai Xcient fuel cell truck has twin 90kW fuel cells and seven H2 tanks that allow a 400-mile range with a full load. A truck running on diesel fuel can travel 1,000 miles or more between fill-ups. </p>

<p><img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/25/042624-TT115-Hyla-fueling-station-1200x800.jpg" /></p>

<p>Nikola recently opened a liquid hydrogen fueling station in Ontario, California, that can accommodate 30 fuel cell trucks a day. (Photo: Nikola)</p>

<p>Meeting or exceeding diesel driving range is critical to broaden hydrogen adoption for long-haul trucking. This is especially true as manufacturers embrace H2 ICE led by Cummins' 15-liter offering for 2028.</p>

<h2 id="h-verne-technology-still-theoretical"><strong>Verne technology still theoretical</strong></h2>

<p>Verne's technology is still mostly theoretical. It plans to conduct real-world testing this year with fleets in Alberta, Canada. Verne will retrofit a diesel engine to run on a hydrogen-diesel blend. It tested its technology on a smaller vehicle in late 2023.</p>

<p>Earlier in April, the company closed a strategic capital raise led by Trucks Venture Capital. That brought Verne's total funding to $15.5 million, including grants like one announced Wednesday from Alberta Innovates. It will fund engine development and demonstration in collaboration with Diesel Tech Industries.</p>

<p>Verne worked with Lawrence Livermore National Laboratory on a 29-kilogram storage system. The system boasts three times greater capacity than previously known examples. Two such systems mounted to a Class 8 truck could enable a range exceeding 500 miles, according to Verne analysis.</p>

<p><img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/25/042624-TT115-Verne-hydrogen.jpg" /></p>

<p>The Verne cryo-compressed hydrogen system could be 33% more energy-dense and efficient than liquid hydrogen. (Photo: Verne)</p>

<p>The energy stored in one 29-kg CcH2 tank is roughly equivalent to a 1 megawatt-hour battery storage system. It weighs about 882 pounds compared to a 1 megawatt-hour battery, which tips the scales at more than 11,000 pounds.</p>

<p>"Verne has developed high-density, lightweight hydrogen storage systems for use onboard heavy-duty vehicles at low cost" David Jaramillo, co-founder of Verne, said in a December news release. "Our solution builds upon decades of research pioneered at Livermore to provide a reliable, scalable and cost-effective storage solution."</p>

<h2 id="h-what-s-next"><strong>What's next?</strong></h2>

<p>On the hardware side, Verne is working with Arta, a Diez, Germany-based maker of coupling and connector systems. They are jointly developing receptacles for CcH2 truck refueling stations. The goal is creating high-performance equipment for a trucking refueling network. </p>

<p>Verne is also developing a mobile CcH2 refueler. It will be used to support Verne's truck demonstrations, Pat Donley, Verne business operations manager, told me in an email. The company is working toward 10-minute refueling for 500 miles of driving range. A Nikola Tre fillup takes about 20 minutes.</p>

<p>"We are in discussions with many traditional OEMs, for both hydrogen combustion engines and fuel cells, as well as fuel cell makers" Donley said. "We've worked on paid technology evaluations with two major companies, and are now in discussions about commercial pilots with several companies."</p>

<p>Nikola and fuel cell maker Hyzon Motors declined comment on CcH2.</p>

<p>Verne is also working with ZeroAvia on using CcH2 on board aircraft and for refueling from gaseous and liquid hydrogen.</p>

<h2 id="h-veggie-tales-volvo-and-mack-switch-to-renewable-diesel-factory-fills"><strong><strong>Veggie tales: Volvo and Mack switch to renewable diesel factory fills</strong></strong></h2>

<p>In the same week that new research showed renewable diesel fuel would cost a fifth as much as converting the nation's trucking fleet to run on electricity, Volvo Trucks North America and sibling Mack Trucks said they would begin filling new trucks at their factories with hydrotreated vegetable oil (HVO) fuel.</p>

<p>Using waste products as feedstocks — similar to renewable natural gas — HVO production can promote a more sustainable circular economy by converting waste into fuel.</p>

<p>HVO has the same chemical and physical properties as diesel fuel but with a lower carbon content. Volvo and Mack engines made in Hagerstown, Maryland, need no modifications to operate on up to 100% renewable diesel.</p>

<h2 id="h-atri-pegs-renewable-diesel-at-a-fifth-of-battery-electric-truck-cost">ATRI pegs renewable diesel at a fifth of battery-electric truck cost</h2>

<p>The American Transportation Research Institute reported Tuesday that the 15-year price tag of switching from petroleum-based diesel to renewable diesel would be about $203 billion. That is about a fifth of the $1 trillion estimate of converting to battery-electric vehicles.</p>

<p><img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/25/042624-TT115-Renewable-diesel-1200x823.jpg" /></p>

<p>New Volvo and Mack Trucks are being fueled with hydrotreated vegetable oil, a renewable diesel fuel, at the Volvo Trucks North America New River Valley Plant in Virginia and at the Mack plant in Lower Macungie, Pennsylvania. (Photo: Volvo Trucks North America)</p>

<p><strong>Volvo</strong> (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vlvly#OTC">VLVLY</a>) described the initiative as part of a broader strategy to decarbonize the industry. It is starting that by enhancing internal combustion engine efficiency with drop-in renewable fuels. The two continue to scale electric trucks. Notably the Class 8 Volvo VNR Electric, and the Mack LR refuse truck and MD Class 6-7.</p>

<p>Volvo is part of cellcentric, a joint venture with Daimler Truck developing hydrogen fuel cell-powered trucks. </p>

<p>"Today and for the foreseeable future there will not be a one-size fits all approach to decarbonizing transportation" VTNA President Peter Voorhoeve said in a news release. </p>

<p>Each new diesel-powered truck leaves the NRV plant with 20 to 25 gallons of HVO per tank. Trucks destined for end customers get a full tank of HVO. Volvo estimates it will replace 1,125,000 gallons of fossil-based diesel annually, cutting 75% to 85% of carbon dioxide emissions from its operations.</p>

<hr />

<p><strong>On the other hand …</strong></p>

<p>In a new report, telematics leader Geotab says that data from more than 750,000 light-duty commercial vehicles in North America and Europe suggests nearly four in 10 of them in the U.S. are good candidates to switch to battery-electric mobility.</p>

<p>While excluding heavy-duty trucks, the analysis found that replacing every suitable internal combustion engine (ICE) vehicle with an electric vehicle could save 2.2 billion gallons of fuel while avoiding 19 million metric tons of CO2 emissions over the next seven years.</p>

<p>On a cost and range basis, 38% of U.S. commercial light-duty ICE vehicles could be replaced with an EV equivalent right now, Geotab said.</p>

<p>By the numbers, each EV-suitable commercial vehicle replacement over its lifespan would save on average $15,000, avoid the use of 7,800 gallons of fuel and avoid generating 68 tons of CO2 emissions.</p>

<p>"By leveraging real-world data insights, we can demonstrate the operational and economic viability of EVs across a wide range of fleet applications" Eric Mallia, Geotab's vice president of Sustainability Solutions, said in a news release.</p>

<p>While the study does not directly address the paucity of electric charging  infrastructure, it said scheduled charging saves money and reduces the need to upgrade electrical systems. Since most local delivery trucks spend more than half of their time parked in a 24-hour period, opportunities abound to schedule charging.</p>

<hr />

<div><iframe height="281" src="https://www.youtube.com/embed/FEfYvTfcboo?feature=oembed" width="500"></iframe></div>

<p>Jim Nebergall, general manager of Cummins' hydrogen engine business, does not see meaningful hydrogen fueling infrastructure being available for the company's X15H hydrogen internal combustion engine before 2028.</p>

<h2 id="h-briefly-noted">Briefly noted …</h2>

<p><strong>Paccar Inc.</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pcar#NASDAQ">PCAR</a>) reports Q1 earnings next week. It is one of 14 S&amp;P 500 stocks with both a 10% share or higher share price gain and a dividend exceeding 3%, according to Seeking Alpha.</p>

<p>Shareholder advocate <strong>As You Sow</strong> wants<strong> Cummins </strong>(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmi#NYSE">CMI</a>)<strong> </strong>shareholders to establish a link between emissions reductions and executive compensation. The company board opposes the proposal.</p>

<p><strong>Megawatt charging</strong> became a reality for Daimler Truck's <strong>Mercedes-Benz </strong>(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mbgaf#OTC">MBGAF</a>)<strong> </strong>eActros 600 during testing in Germany.</p>

<p><img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/25/042624-TT115-eActros-600-MCS-1200x801.jpg" /></p>

<p>The Mercedes Benz eActros 600 gets a megawatt charge of electricity, the first truck known to take such a high charging rate. (Photo: Daimler Truck)</p>

<p><strong>Peterbilt</strong> is introducing Digital Vision System-Mirrors in the Models 579 and 567, accelerating a trend that could eventually lead to the end of boxy, aero-defeating  50-inch side mirrors.</p>

<p><img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/25/042624-TT115-Peterbilt-VMS-1200x817.jpg" /></p>

<p>When approved for regular production, A-pillar mounted video cameras could replace the bulky, outsized mirrors and improve aerodynamics and safety. (Photo: Peterbilt)</p>

<hr />

<p>The post <a href="https://www.freightwaves.com/news/really-cold-hydrogen-could-bring-driving-range-parity-with-diesel">Really cold hydrogen could bring driving range parity with diesel</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.</p>
 

<p><a href="https://www.baesystems.com/en/article/bae-systems-to-collaborate-with-cummins-on-transit-bus-hybrid-drivetrain-for-2027-and-beyond#:~:text=2027%20and%20beyond-,BAE%20Systems%20to%20collaborate%20with%20Cummins%20on%20transit,drivetrain%20for%202027%20and%20beyond&amp;text=BAE%20Systems%20and%20Cummins%20Inc,targeted%20for%20launch%20in%202027.">https://www.baesystems.com/en/article/bae-systems-to-collaborate-with-cummins-on-transit-bus-hybrid-drivetrain-for-2027-and-beyond#:~:text=2027%20and%20beyond-,BAE%20Systems%20to%20collaborate%20with%20Cummins%20on%20transit,drivetrain%20for%202027%20and%20beyond&amp;text=BAE%20Systems%20and%20Cummins%20Inc,targeted%20for%20launch%20in%202027.</a></p>
<p>&nbsp;</p>
<p>Hybrid electric solution will continue to provide transit agencies with proven, cost-effective technology that reduces fuel use and emissions</p>
<p>BAE Systems and Cummins Inc. have announced plans to collaborate on the integration and certification of a B hybrid-compatible diesel engine and hybrid electric drivetrain for the transit market, targeted for launch in 2027. The hybrid electric solution will continue to provide transit agencies with a proven and cost-effective technology that reduces fuel use and emissions.</p>
<p>In this effort, BAE Systems will supply its <a href="https://www.baesystems.com/en/productfamily/electric-and-hybrid-solutions">electric drive</a> hardware to interface with the engine and form a full hybrid electric drivetrain, as well as provide engineering support and system integration expertise.</p>
<p>"Hybrid electric systems will remain an important technology for the bus market for years to come," said Rob Dykema, director of North American Transit Accounts for Power &amp; Propulsion Solutions at BAE Systems. "BAE Systems and Cummins have enjoyed many years of successful collaboration delivering this proven capability to the market, and this is another step forward as we sustain a range of clean, efficient solutions in transit."</p>
<p>BAE Systems and Cummins have worked together to develop hybrid electric solutions for buses since 1994. This newly expanded collaboration underscores a shared commitment to offering more emission-reducing options in transit.</p>
<p>Hybrid electric buses facilitate workforce development for training on high-voltage systems and do not require investment in extensive charging infrastructure.</p>
<p>In addition, hybrid buses with BAE Systems' electric drive systems allow for increased zero-emission capable solutions. This includes proven engine start and stop and geofencing technology, allowing a hybrid bus to automatically switch to full electric bus mode when entering designated green zones.</p>
<p>BAE Systems has more than 25 years of experience developing and integrating electric power and propulsion systems for buses, boats, and heavy-duty vehicles. The company has more than 16,000 propulsion systems in service on transit buses worldwide, including on hybrid electric, battery electric, and hydrogen fuel cell applications.</p>
<p>Its electric propulsion technology is developed and serviced at its facilities in Endicott, New York and Rochester, U.K.</p>


'BAE Systems To Collaborate With Cummins On Transit Bus Hybrid Drivetrain For 2027 And Beyond'

<p>Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) underwent analysis by 8 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.</p>
<p>The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></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><strong>1M Ago</strong></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;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>Analysts have recently evaluated Cummins and provided 12-month price targets. The average target is $275.5, accompanied by a high estimate of $321.00 and a low estimate of $225.00. Observing a 9.39% increase, the current average has risen from the previous average price target of $251.86. </p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713276073_0.png" alt="price target chart" /></p>
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
<p>The analysis of recent analyst actions sheds light on the perception of Cummins by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<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>Jerry Revich</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Neutral</td>
<td>$306.00</td>
<td>$270.00</td>
</tr>
<tr>
<td>Tami Zakaria</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$275.00</td>
<td>$245.00</td>
</tr>
<tr>
<td>Steven Fisher</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$321.00</td>
<td>$254.00</td>
</tr>
<tr>
<td>Jamie Cook</td>
<td>Truist Securities</td>
<td>Announces</td>
<td>Hold</td>
<td>$303.00</td>
<td>-</td>
</tr>
<tr>
<td>David Raso</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$244.00</td>
<td>$231.00</td>
</tr>
<tr>
<td>Timothy Thein</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$285.00</td>
<td>$265.00</td>
</tr>
<tr>
<td>Ross Gilardi</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Underperform</td>
<td>$225.00</td>
<td>$243.00</td>
</tr>
<tr>
<td>Tami Zakaria</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$245.00</td>
<td>$255.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Cummins. This offers insight into analysts' perspectives on the current state of the company.</li>
<li><strong>Rating:</strong> Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Cummins compared to the broader market.</li>
<li><strong>Price Targets:</strong> Gaining insights, analysts provide estimates for the future value of Cummins's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
<p>Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Cummins's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/CMI/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on Cummins analyst ratings.</strong></a></p>
<h2>Discovering Cummins: A Closer Look</h2>
<p>Cummins is the top manufacturer of diesel engines used in commercial trucks, off-highway equipment, 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.</p>
<h3>A Deep Dive into Cummins's Financials</h3>
<p><strong>Market Capitalization:</strong> Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.</p>
<p><strong>Revenue Growth:</strong> Cummins's remarkable performance in 3 months is evident. As of 31 December, 2023, the company achieved an impressive revenue growth rate of <strong>9.95%</strong>. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Industrials sector.</p>
<p><strong>Net Margin:</strong> Cummins's net margin excels beyond industry benchmarks, reaching <strong>-16.75%</strong>. This signifies efficient cost management and strong financial health.</p>
<p><strong>Return on Equity (ROE):</strong> Cummins's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of <strong>-14.67%,</strong> the company may encounter challenges in delivering satisfactory returns for shareholders.</p>
<p><strong>Return on Assets (ROA):</strong> Cummins's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of <strong>-4.46%,</strong> the company may face hurdles in achieving optimal financial performance.</p>
<p><strong>Debt Management:</strong> With a below-average debt-to-equity ratio of <strong>0.81</strong>, Cummins adopts a prudent financial strategy, indicating a balanced approach to debt management.</p>
<h2>The Basics of Analyst Ratings</h2>
<p>Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.</p>
<p>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.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Evaluating Cummins: Insights From 8 Financial Analysts

<p>Goldman Sachs  analyst Jerry Revich   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 $270 to $306.</p>


Goldman Sachs Maintains Neutral on Cummins, Raises Price Target to $306

<div>Platform Science, a provider of connected vehicle solutions, announced on Tuesday a significant milestone in its growth journey, securing $125 million in funding aimed at bolstering its presence in the commercial trucking sector. </div>

<p>Participating in this round are existing investors 8VC, NewRoad Capital Partners, and <strong>Prologis Ventures</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pld#NYSE">PLD</a>), joined by new backers Activant Capital, Manhattan Ventures Partners and BDT &amp; MSD Partners.</p>

<p>This expansion round also witnessed participation from Platform Science's strategic allies, including C.R. England, <strong>Cummins</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmi#NYSE">CMI</a>), and <strong>Paccar</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pcar#NASDAQ">PCAR</a>), all of whom forged partnerships with the company in 2023. </p>

<p>Additionally, past partners such as Daimler Truck North America (DTNA), <strong>RyderVentures</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/r#NYSE">R</a>), and <strong>Schneider National</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sndr#NYSE">SNDR</a>) reiterated their support, underscoring the continued momentum of Platform Science's collaborative efforts within the industry.</p>

<p>The company last announced its Series C raise in 2022, led by SoftBank Vision Fund 2 for $115 million, valuing the company at $575 million. Platform Science has raised $309 million since 2017.</p>

<p>"This funding has the potential to help us accelerate the launch of additional OEM partners and it will enable us to accelerate the number of on-vehicle applications and service partners we add to the vehicle ecosystem" Jack Kennedy, CEO of Platform Science said while continuing to elaborate on the success of its Virtual Vehicle platform that was developed in collaboration with DTNA, Navistar, Paccar and other OEMs.</p>

<p>Virtual Vehicle facilitates direct access to real-time vehicle data for enterprise fleets, telematics service providers (TSPs), third-party developers, shippers, fleet managers and OEMs. By integrating telematics hardware during production, Virtual Vehicle eliminates the need for costly aftermarket installations. </p>

<table><thead><tr><th>Funding details</th>
			<th><a href="https://www.platformscience.com/">Platform Science</a></th>
		</tr></thead><tbody><tr><td><strong>Funding amount</strong></td>
			<td>$125 million</td>
		</tr><tr><td><strong>Funding round</strong></td>
			<td>Growth investment</td>
		</tr><tr><td><strong>Lead investors</strong></td>
			<td>8VC, NewRoad Capital Partners, and Prologis Ventures</td>
		</tr><tr><td><strong>Secondary investors</strong></td>
			<td>Activant Capital, Manhattan Ventures Partners, BDT &amp; MSD Partners, C.R. England, Cummins, Paccar, DTNA, RyderVentures and Schneider National </td>
		</tr><tr><td><strong>Business goals for the round</strong></td>
			<td>Expand partnerships with OEMs</td>
		</tr><tr><td><strong>Total funding</strong></td>
			<td>$309 million*</td>
		</tr></tbody></table>

<p>*According to Pitchbook</p>

<p>At the same time, fleet managers gain access to a diverse catalog of tailored solutions, while TSPs and developers tap into a vast customer base and distribution channel.</p>

<p>In May 2020, DTNA became the first OEM to integrate factory-installed telematics with cloud and in-dash technology onto Virtual Vehicle.</p>

<p>"We see OEMs who partner with Platform Science becoming more and more creative as they leverage our platform and tools to become software developers providing value-added applications and services to the vehicles they design and manufacture" Kennedy told FreightWaves.</p>

<p>Kennedy explained that with the investment and participation of its OEM partners, Platform Science will have the potential to leverage the OEMs' pool of data to build AI models, "to capture more and more nuance to fine-tune predictive maintenance, supply chain optimization, traffic flow management, fuel and power consumption and an endless number of other use cases."</p>

<p>Platform Science has also recently announced partnerships with LTL provider Averitt in August and truckload transportation company Cheema Freightlines in December. </p>

<div>
<div>
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</div>

<div><iframe height="281" src="https://www.youtube.com/embed/3WPAcltOcdI?feature=oembed&amp;enablejsapi=1&amp;origin=https://www.freightwaves.com" width="500"></iframe></div>

<p>The post <a href="https://www.freightwaves.com/news/platform-science-secures-125m-to-grow-oem-partnerships">Platform Science secures $125M to grow OEM partnerships</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.</p>


<p>On CNBC&rsquo;s &quot;Mad Money Lightning Round,&quot; Jim Cramer said he likes <strong> New Fortress Energy Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nfe#NYSE">NFE</a>), but &quot;right now Wes Edens [co-founder of Fortress Investment Group and founder of New Fortress Energy] is kind of just <a href="https://www.benzinga.com/markets/equities/23/12/36407259/new-fortress-energy-powers-up-brazil-business-with-game-changing-1-6-gw-capacity-reserve-contrac">hurt by the president.&rdquo;</a></p>
<p>On March 5, New Fortress Energy reported upsizing and pricing of $750 million of senior secured notes.</p>
<p>Cramer said he likes <strong> Cummins Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmi#NYSE">CMI</a>) and recommended buying the stock. &quot;I think it&rsquo;s terrific,&quot; he added.</p>
<p>On March 14, Truist Securities analyst Jamie Cook initiated coverage on the shares of Cummins with a Hold rating and a price target of $303.</p>
<p>When asked about <strong> Palantir Technologies Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pltr#NYSE">PLTR</a>), Cramer said, &quot;Make a move and buy some.&quot;</p>
<p>The company, last week, inked a pact with Oracle to provide secure cloud and AI solutions to power businesses and governments worldwide.</p>
<p>The &quot;Mad Money&quot; host recommended buying <strong> The PNC Financial Services Group, Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pnc#NYSE">PNC</a>). &quot;You got horse sense,&quot; he added.</p>
<p>On April 8, Jefferies analyst Ken Usdin maintained PNC Finl with a Hold and raised the price target from $164 to $171.</p>
<p>&quot;I really want&quot; you in <strong> Abbott Laboratories </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abt#NYSE">ABT</a>), Cramer said.</p>
<p>The FDA, last week, approved Abbott Laboratories&rsquo; first-of-its-kind TriClip transcatheter edge-to-edge repair (TEER) system that&rsquo;s specifically designed to treat tricuspid regurgitation (TR), or a leaky tricuspid valve.</p>
<p>Cramer recommended selling <strong> NIO Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>).</p>
<p>On April 9,&nbsp;NIO filed its 2023 annual report on Form 20-F.</p>
<h3><strong>Price Action:</strong></h3>
<ul>
<li>New Fortress Energy shares fell 1.3% to settle at $28.96 on Thursday.</li>
<li>Palantir shares gained 1.9% to close at $22.84.</li>
<li>PNC shares fell 0.6% to settle at $154.08.</li>
<li>Cummins shares gained 0.2% to close at $302.86.</li>
<li>Abbott Labs shares gained 0.3% to close at $111.45 during Thursday&rsquo;s session.</li>
<li>Shares of NIO fell 2.8% to close at $4.46 on Thursday.</li>
</ul>
<p><em>Read Next: </em><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38200890/top-3-health-care-stocks-which-could-rescue-your-portfolio-this-quarter"><em> Top 3 Health Care Stocks Which Could Rescue Your Portfolio This Quarter </em></a></p>


Long Ideas

Media

PLTR

Jim Cramer Calls Cummins 'Terrific,' Recommends Selling This Chinese Auto Manufacturer

<p>Deep-pocketed investors have adopted a bullish approach towards Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CMI usually suggests something big is about to happen.</p>
<p>We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Cummins. This level of activity is out of the ordinary.</p>
<p>The general mood among these heavyweight investors is divided, with 54% leaning bullish and 45% bearish. Among these notable options, 4 are puts, totaling $219,560, and 7 are calls, amounting to $882,580.</p>
<h3>Predicted Price Range</h3>
<p>Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $250.0 to $350.0 for Cummins over the recent three months. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>In terms of liquidity and interest, the mean open interest for Cummins options trades today is 34.67 with a total volume of 1,574.00.</p>
<p>In the following chart, we are able to follow the development of volume and open interest of call and put options for Cummins's big money trades within a strike price range of $250.0 to $350.0 over the last 30 days.</p>
<h3>Cummins Option Activity Analysis: Last 30 Days</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1712261755_0.png" alt="Options Call Chart" /></p>
<h3>Noteworthy Options Activity:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th style="text-align: right;"><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>CMI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/10/24</td>
<td>$23.9</td>
<td>$23.2</td>
<td>$23.9</td>
<td>$280.00</td>
<td>$396.7K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">166</td>
</tr>
<tr>
<td>CMI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/10/24</td>
<td>$21.3</td>
<td>$20.4</td>
<td>$20.4</td>
<td>$280.00</td>
<td>$338.6K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">332</td>
</tr>
<tr>
<td>CMI</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$16.3</td>
<td>$15.2</td>
<td>$15.2</td>
<td>$260.00</td>
<td>$76.0K</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">30</td>
</tr>
<tr>
<td>CMI</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$13.4</td>
<td>$12.6</td>
<td>$12.6</td>
<td>$250.00</td>
<td>$63.0K</td>
<td style="text-align: right;">27</td>
<td style="text-align: right;">31</td>
</tr>
<tr>
<td>CMI</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$31.5</td>
<td>$29.1</td>
<td>$29.2</td>
<td>$290.00</td>
<td>$52.5K</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">23</td>
</tr>
</tbody>
</table>
</p>
<h3>About Cummins</h3>
<p>Cummins is the top manufacturer of diesel engines used in commercial trucks, off-highway equipment, 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.</p>
<p>Following our analysis of the options activities associated with Cummins, we pivot to a closer look at the company's own performance.</p>
<h3>Cummins's Current Market Status</h3>
<ul>
<li>Trading volume stands at 1,202,175, with CMI's price up by 0.03%, positioned at $294.75.</li>
<li>RSI indicators show the stock to be may be overbought.</li>
<li>Earnings announcement expected in 26 days.</li>
</ul>
<h3>What Analysts Are Saying About Cummins</h3>
<p>3 market experts have recently issued ratings for this stock, with a consensus target price of $299.6666666666667.</p>
<ul>
<li>An analyst from Truist Securities has revised its rating downward to Hold, adjusting the price target to $303. </li>
<li>An analyst from JP Morgan persists with their Underweight rating on Cummins, maintaining a target price of $275. </li>
<li>In a positive move, an analyst from UBS has upgraded their rating to Buy and adjusted the price target to $321. </li>
</ul>
<p>Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Cummins options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>


Options

Check Out What Whales Are Doing With CMI

<p>CNBC&rsquo;s <strong>Jim Cramer</strong> can&rsquo;t recommend <strong> Archer Aviation Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/achr#NYSE">ACHR</a>). It just has &quot;no earnings power,&quot; he said, adding, &quot;There&rsquo;s so many good stocks right now, <a href="https://www.benzinga.com/news/earnings/24/02/37324977/archer-aviation-stock-falls-after-q4-earnings-miss">we don&rsquo;t need that.</a>&quot;</p>
<p>On Feb. 26, Archer Aviation reported worse-than-expected fourth-quarter financial results. The company reported quarterly losses of 34 cents per share which missed the analyst consensus estimate of losses of 28 cents by 21.43% and represents a 12.82% increase over losses of 39 cents per share from the same period last year. Archer Aviation expects non-GAAP operating expenses of $75 million to $95 million for the first quarter of 2024.</p>
<p>&quot;I think that that Greyhound bus has left the station, and I got to wait,&quot; Cramer said on Thursday&#39;s &quot;Mad Money Lightning Round&quot; reffering to <strong> <a href="https://www.benzinga.com/money/robinhood-alternatives/">Robinhood</a> Markets, Inc. </strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hood#NASDAQ">HOOD</a>).</p>
<p>&quot;I mean, the thing just doubled in no time whatsoever,&quot; Cramer said. &quot;We don&rsquo;t buy doubles here.&quot;</p>
<p>Robinhood Markets recently unveiled the Robinhood Gold Card at its first-ever keynote event this week. Co-founder and CEO Vlad Tenev explained the company&rsquo;s <a href="https://www.benzinga.com/news/24/03/37964253/robinhood-aims-to-make-gold-membership-a-no-brainer-with-3-cash-back-card-vlad-tenev-says">strategy following the event</a>.</p>
<p>The &quot;Mad Money&quot; host recommended not selling <strong> Cummins Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmi#NYSE">CMI</a>).</p>
<p>On March 25, JPMorgan analyst Tami Zakaria maintained Cummins with an Underweight and raised the price target from $245 to $275.</p>
<p>Cramer said he would buy some more <strong> Crown Castle Inc </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cci#NYSE">CCI</a>) stock at this level with a 6% yield. &quot;I think it&rsquo;s a good idea, and I haven&rsquo;t felt that way about Crown Castle in ages,&quot; he added.</p>
<p>On Jan. 24, Crown Castle reported better-than-expected results for its fourth quarter.</p>
<h3><strong>Price Action:</strong></h3>
<ul>
<li>Shares of Archer Aviation fell 1% to close at $4.74 on Wednesday.</li>
<li><a href="https://www.benzinga.com/money/robinhood-alternatives/">Robinhood</a> shares gained 3.8% to close at $20.01.</li>
<li>Cummins shares gained 1% to settle at $294.69 on Wednesday.</li>
<li>Crown Castle shares gained 3.6% to close at $105.59 during Wednesday&rsquo;s session.</li>
</ul>
<p><em>Read Next:</em> <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37956686/top-3-consumer-stocks-that-may-rocket-higher-this-quarter"><em> Top 3 Consumer Stocks That May Rocket Higher This Quarter </em></a></p>
<p><em>Image: Shutterstock</em></p>


ACHR

HOOD

Jim Cramer Likes Crown Castle, But Can't Recommend Archer Aviation: It Has 'No Earnings Power'

<p>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 $245 to $275.</p>


JP Morgan Maintains Underweight on Cummins, Raises Price Target to $275

<p>Financial giants have made a conspicuous bearish move on Cummins. Our analysis of options history for Cummins (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) revealed 11 unusual trades.</p>
<p>Delving into the details, we found 45% of traders were bullish, while 54% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $178,536, and 8 were calls, valued at $304,927.</p>
<h3>What's The Price Target?</h3>
<p>Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $170.0 to $320.0 for Cummins over the last 3 months. </p>
<h3>Volume &amp; Open Interest Development</h3>
<p>In terms of liquidity and interest, the mean open interest for Cummins options trades today is 170.0 with a total volume of 485.00.</p>
<p>In the following chart, we are able to follow the development of volume and open interest of call and put options for Cummins's big money trades within a strike price range of $170.0 to $320.0 over the last 30 days.</p>
<h3>Cummins 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1711032427_0.png" alt="Options Call Chart" /></p>
<h3>Biggest Options Spotted:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th style="text-align: right;"><strong>Open Interest</strong></th>
<th style="text-align: right;"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>CMI</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$300.00</td>
<td>$108.9K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>CMI</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>03/28/24</td>
<td>$295.00</td>
<td>$84.0K</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">201</td>
</tr>
<tr>
<td>CMI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$280.00</td>
<td>$44.1K</td>
<td style="text-align: right;">318</td>
<td style="text-align: right;">30</td>
</tr>
<tr>
<td>CMI</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$300.00</td>
<td>$43.6K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">151</td>
</tr>
<tr>
<td>CMI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$260.00</td>
<td>$40.2K</td>
<td style="text-align: right;">473</td>
<td style="text-align: right;">17</td>
</tr>
</tbody>
</table>
</p>
<h3>About Cummins</h3>
<p>Cummins is the top manufacturer of diesel engines used in commercial trucks, off-highway equipment, 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.</p>
<p>Following our analysis of the options activities associated with Cummins, we pivot to a closer look at the company's own performance.</p>
<h3>Where Is Cummins Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 551,513, the CMI's price is down by 0.0%, now at $287.13. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 40 days.</li>
</ul>
<h3>Expert Opinions on Cummins</h3>
<p>2 market experts have recently issued ratings for this stock, with a consensus target price of $312.0.</p>
<ul>
<li>An analyst from Truist Securities downgraded its action to Hold with a price target of $303. </li>
<li>In a positive move, an analyst from UBS has upgraded their rating to Buy and adjusted the price target to $321. </li>
</ul>
<p>Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Cummins with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


Behind the Scenes of Cummins's Latest Options Trends

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p><strong>Cummins</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/cmi-stock-quote/"><strong>CMI</strong></a></span>) just reported results for the first quarter of 2024.</p><ul><li>Cummins reported earnings per share of $5.10. This was below the analyst estimate for EPS of $5.13.</li><li>The company reported revenue of $8.40 billion.</li><li>This was 0.56% worse than the analyst estimate for revenue of $8.45 billion.</li></ul><div><p>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</p></div><h3>More From InvestorPlace</h3>
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CMI Stock Earnings: Cummins Misses EPS, Misses Revenue for Q1 2024

Cummins Inc. 2024 Q1 - Results - Earnings Call Presentation

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>The <strong>Global X Hydrogen ETF </strong>(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/hydr-stock-quote/"><strong>HYDR</strong></a></span>) was launched on July 12, 2021. The ETF included <a href="https://investorplace.com/industries/energy/renewable-energy/hydrogen/">hydrogen stocks</a> to buy that were benefiting from the global hydrogen industry.&nbsp;</p>



<p>Nearly four years later, it has less than $38 million in net assets invested across 25 companies. The ETF itself has lost <a href="https://www.globalxetfs.com/funds/hydr/">79%</a> of its value as of April 30.</p>



<p>ING&rsquo;s January report about hydrogen was a glass-half-full publication about where the industry is headed.&nbsp;</p>




<p>&ldquo;We expect the hydrogen market to grow in 2024, but less so than many have hoped for. The year ahead is also set to deliver policies for future growth,&rdquo; <a href="https://think.ing.com/articles/hold-back-to-reality-paving-the-way-for-future-growth-in-hydrogen/">wrote</a> ING Senior Sector Economist Gerben Hieminga.&nbsp;</p>




<p>As the report highlighted, unsubsidized green hydrogen prices remain prohibitive for most European consumers, 2-3 times more expensive than grey and blue hydrogen. In the U.S., prices are about half those overseas.&nbsp;</p>



<p>The report concludes that early proponents of green energy were too optimistic about the future. In 2024, the companies that move the world away from fossil fuels will likely do well.&nbsp;</p>



<p>Here are three names from HYDR to well over the long haul.&nbsp;</p>



<h2>Global X Hydrogen ETF (HYDR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/11/hydrogen_1600_c-300x169.jpg" alt="An image of a hydrogen fueling station against a blue sky. top hydrogen stocks to buy. Hydrogen Stocks"><div>Source: DesignRage / Shutterstock.com</div></div><p>As I was running through the 25 names from HYDR, it occurred to me that the smartest bet if you&rsquo;re looking for hydrogen stocks to buy, would be the ETF itself. After all, it&rsquo;s down 79% in less than three years. Should hydrogen stocks make a big move in the next 18-24 months, getting in on the ground floor seems like a winning bet in the long haul.&nbsp;</p>



<p>Many of the names in Global X&rsquo;s fund are related to the production of fuel cells, etc. The top 10 holdings account for <a href="https://www.morningstar.com/etfs/xnas/hydr/portfolio">70%</a> of its net assets. That means in less than two years it will have turned over the entire portfolio.&nbsp;</p>



<p>As you&rsquo;ll see with the next two names, I&rsquo;ve selected companies outside the top 10. That&rsquo;s because it makes little sense to buy one of the stocks with a higher weighting, especially if you plan on buying the ETF and one or two others.&nbsp;</p>



<p>Broken down by sector, the ETF invests in three sectors: industrials (76.8% of the portfolio), consumer discretionary (17.5%), and materials (5.7%). Country-wise, it&rsquo;s nicely diversified, with the U.S. accounting for 36.2%, followed by the UK (17.0%), and South Korea (11.2%).&nbsp;</p>



<p>While many of the 25 names don&rsquo;t make money, the average market capitalization is $18.4 billion, which is quite large for money losers.&nbsp;</p>



<p>Consider this the reversion to the mean bet.&nbsp;</p>



<h2>Cummins (CMI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/cmi-stock-1-300x169.jpg" alt="A Cummins sign in bright red."><div>Source: Jonathan Weiss / Shutterstock.com</div></div><p>I still remember when my wife and I moved to Halifax. Right across the street and behind us were two military bases. On one of them there was this very large <strong>Cummins </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/cmi-stock-quote/"><strong>CMI</strong></a></span>) <a href="https://www.cummins.com/generators/6bta59-i-range">diesel generator</a>. On several occasions, it&rsquo;s been pressed into action during hurricanes and big storms to keep things running.</p>



<p>In April, the company <a href="https://www.ivtinternational.com/news/engines/cummins-to-debut-hydrogen-engine-in-paris.html">debuted</a> its next-generation B6.7H hydrogen engine at a trade show in Paris.&nbsp;</p>




<p>&ldquo;Our current B6.7 is a leader in the market, and it is important that we keep developing its capability and value for our customers as well as reducing the environmental impact.&nbsp; The new B6.7H hydrogen engine will fit in today&rsquo;s machines, work with today&rsquo;s transmissions and hydraulic systems, and integrate into the industry&rsquo;s service networks and practices,&rdquo; said Antonio Leitao, VP of Cummins&rsquo; off-highway engine business.</p>




<p>The company&rsquo;s Engine segment accounted for 28% of its 2023 revenue.&nbsp;</p>



<p>While still in its infancy, the company&rsquo;s <a href="https://www.cummins.com/news/releases/2023/03/08/cummins-launches-accelera-cummins-advance-transition-zero-emissions-future">Accelera segment</a> is in the early stages of developing hydrogen production technologies and electrified power systems with innovative components and subsystems, including battery, fuel cell, and electric powertrain technologies.</p>



<p>In 10 years, Accelera should be more than a rounding error on Cummins&rsquo; income statement.&nbsp;</p>



<h2>Hyster-Yale Materials Handling (HY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/06/supply-chain-forklift-workers-1600-300x169.jpg" alt="silhouettes of a forklift and driver as well as two workers by a semi truck backdropped by a sunset sky. represents the supply chain"><div>Source: shutterstock.com/By yuttana Contributor Studio</div></div><p><strong>Hyster-Yale Materials Handling </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/hy-stock-quote/"><strong>HY</strong></a></span>) manufactures forklifts and other materials handling products for warehouse and logistics operations. Its brands include Hyster, Yale, Maximal, Bolzoni, and several others.&nbsp;</p>



<p>The company&rsquo;s history dates back to the <a href="https://www.hyster-yale.com/history">1840s</a> when Linus Yale Sr. started making security locks. In 1868, it became Yale and Towne Manufacturing, and in 1875, it entered the materials handling business.&nbsp;</p>



<p>In 1929, The Willamette-Ersted Company is born in Portland, Oregon. Five years later, it became the Willamette Hyster Company. Ten years after that, it was renamed the Hyster Company.&nbsp;&nbsp;</p>



<p>In 1985, North American Coal bought control of Yale. NACCO Industries became the holding company for Yale and others. It bought Hyster in 1989. In 2012, the two companies were combined into Hyster-Yale Materials Handling and spun off from NACCO.&nbsp;</p>



<p>Two years later, it acquired Nuvera Fuel Cells LLC, an alternative-power technology company focused on fuel cell stacks and engines, on-site hydrogen production and dispensing systems.</p>



<p>A decade later, its fuel cell business is starting to generate revenue, but it remains a money loser, funded through its Lift Truck business. In <a href="https://filecache.investorroom.com/mr5ir_hysteryale/1132/2023%20Q4%20Investor%20Presentation%2022724%20FINAL.pdf">Q4 2023</a>, the segment&rsquo;s revenue was $982 million with an operating profit of $54.2 million.&nbsp;&nbsp;</p>



<p>The company estimates that Nuvera&rsquo;s fuel cell products have a global addressable market of $28 billion. It continues to gradually grow hydrogen as a clean power source in more than 20 applications.&nbsp;</p>



<p><em>On the date of publication, Will Ashworth </em><em>did not have (either directly or indirectly) any positions in the securities mentioned in this article. </em><em>The opinions expressed in this article are those of the writer, subject to the </em>InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"><em> </em>Publishing Guidelines</a><em>.</em></p>
<div><p>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</p></div><h3>More From InvestorPlace</h3>
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In a report released today, Noah Kaye from Oppenheimer maintained a Hold rating on Cummins (CMI – Research Report). The company's shares closed yes...

Cummins (CMI) Gets a Hold from Oppenheimer

PACCAR: Too Far Too Fast - Time To Sell

In a report released yesterday, Jamie Cook from Truist Financial maintained a Hold rating on Cummins (CMI – Research Report), with a price target o...

Truist Financial Sticks to Its Hold Rating for Cummins (CMI)

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<p>Everyone who has tried generative AI knows it&rsquo;s a transformational technology. And it isn&rsquo;t a fad; artificial intelligence will be with us for decades. Let&rsquo;s highlight some under-the-radar <a href="https://investorplace.com/industries/technology/artificial-intelligence/">AI stocks</a> to profit from this revolution.</p>



<p>Investors have increased their exposure to AI investments as the payoffs of the innovation become clearer. A major focus has been on semiconductor companies like <strong>Nvidia</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/nvda-stock-quote/"><strong>NVDA</strong></a></span>) and <a href="https://investorplace.com/industries/technology/software/">software stocks</a> like <strong>Microsoft</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/msft-stock-quote/"><strong>MSFT</strong></a></span>). While these industries might still have more upside, the AI impact is likely priced in.</p>



<p>Instead, other companies in adjacent industries could have material upside as AI investment goes into overdrive. During Q1 2024 earnings, hyperscalers like <strong>Meta Platforms</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/meta-stock-quote/"><strong>META</strong></a></span>) and <strong>Amazon</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/amzn-stock-quote/"><strong>AMZN</strong></a></span>) disclosed increasing<a href="https://www.fierce-network.com/cloud/alphabet-microsoft-ramp-cloud-capex-lead-ai-charge"> their capital expenditures</a> to support their AI efforts. These capex plans have a straightforward implication: a multi-year AI data center buildout.</p>



<p>This capital expenditure bodes well for these under-the-radar AI stocks whose products go into AI data centers. Their products are integral in supporting the AI revolution.</p>



<h2>Vertiv (VRT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/03/vrtv-stock-1-300x169.jpg" alt="A magnifying glass zooms in on the website for Veritiv (VRTV)."><div>Source: Casimiro PT / Shutterstock.com</div></div><p>One major investment area triggered by AI is the buildout of data centers. According to <a href="https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/investing-in-the-rising-data-center-economy">McKinsey estimates</a>, U.S. demand based on power consumption could grow from 17 gigawatts (GW) in 2022 to 35 GW by 2030. This creates an upside for one of the under-the-radar AI stocks, <strong>Vertiv</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/vrt-stock-quote/"><strong>VRT</strong></a></span>).</p>



<p>Due to the significant computations, AI data centers run hot. That&rsquo;s why Vertiv&rsquo;s solutions are key to data center players. The company provides a portfolio of power, cooling and IT infrastructure solutions geared to this industry. For instance, it offers a range of data center cooling solutions to maintain optimal temperature levels.</p>



<p>Indeed, Vertiv is heavily exposed to the data center at 75% of revenues. Furthermore, it is banking on its decades of experience serving the segment. Therefore, management is confident that they will capitalize on the AI trend.</p>



<p>Notably, the company saw 60% organic order growth related to large-scale AI data center projects in <a href="https://investors.vertiv.com/financial-news/news-details/2024/Vertiv-Reports-60-Organic-Orders-Growth-8-Net-Sales-Growth-in-First-Quarter-Updates-Full-Year-2024-Outlook/default.aspx">Q1 2024</a>. Pipeline velocity surged in the quarter, leading to an $800 million backlog increase, pushing the total to a record $6.3 billion.</p>



<p>Due to the robust demand, Vertiv is ramping up production. Management expects expanding demand as larger projects come online. It will be a top beneficiary as a key supplier of cooling solutions for data centers.</p>



<h2>Cummins (CMI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/cmi-stock-1-300x169.jpg" alt="A Cummins sign in bright red."><div>Source: Jonathan Weiss / Shutterstock.com</div></div><p>While <strong>Cummings</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/cmi-stock-quote/"><strong>CMI</strong></a></span>) is mainly an engine and commercial components provider, it is one of the best under-the-radar AI stocks to buy. That&rsquo;s because it&rsquo;s one of the <a href="https://www.cummins.com/generators/data-centers">primary providers of backup power generators</a> necessary to keep data centers running.</p>



<p>Data centers need reliable power at all times. Cummings provides a range of power generators that guarantee unlimited operation hours without limit on the average variable load factor. These backup solutions are critical, especially during power grid outages.</p>



<p>Due to the robust demand, Cummings posted a 21% revenue increase in the North American power generation segment. Similarly, it revealed accelerating data center demand in the Chinese market.</p>



<p>In the <a href="https://seekingalpha.com/article/4688536-cummins-inc-cmi-q1-2024-earnings-call-transcript">Q1 2024 earnings call</a>, management highlighted the robust demand from the data center market. CEO Jennifer Rumsey said they expect power generation revenues to increase 10% to 15% in 2024. She cited the data center market as the main driver and noted that some products were sold out through 2025.</p>



<p>Demand for data center power generation solutions is surging. In line with this, Cummings has increased its revenue growth guidance for the power generation segment from 5%&mdash;10% to 10%&mdash;15%. This increased optimism makes CMI stock a top buy.</p>



<h2>Eaton (ETN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/11/etn-stock-1-300x169.jpg" alt="An Eaton (ETN) sign on a company building."><div>Source: Lukassek / Shutterstock.com</div></div><p><strong>Eaton</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/etn-stock-quote/"><strong>ETN</strong></a></span>) will be another beneficiary as the data center buildout to support AI innovation accelerates. According to <a href="https://www.goldmansachs.com/intelligence/pages/gs-research/generational-growth-ai-data-centers-and-the-coming-us-power-surge/report.pdf">Goldman Sachs</a>, data center power demand will grow at a 15% compounded annual growth rate between 2023 and 2030. This will spur demand for the power distribution and backup power protection equipment Eaton offers for data centers.</p>



<p>Today, Eaton&rsquo;s equipment is integral to multi-tenant and hyperscale data centers, making it among the best under-the-radar AI stocks. For instance, most data centers use their power distribution equipment, which includes panelboards, switchgear, busways and transformers.</p>



<p>Eaton provided an update on the AI data center market after <a href="https://www.eaton.com/content/dam/eaton/company/investor-relations/quarterly-earnings/filings/2024/q1/1Q-2024-analyst-presentation.pdf">impressive Q1 2024 results</a>. Management expects the market to grow at a 25% CAGR between 2022 and 2025. Additionally, they noted Eaton&rsquo;s strong position in this market, which accounted for 14% of total revenues in 2023.</p>



<p>Regarding forward growth, CEO Craig Arnold highlighted that orders had doubled over the trailing 12-month period. He also noted that the company had a strong negotiating pipeline. In the quarter, the project negotiation pipeline increased 169% year-over-year.</p>



<p>These solid fundamentals point to the momentum from AI data center growth driven by AI, big data and edge computing. The secular growth in data center demand makes Eaton one of the top under-the-radar AI stocks.</p>



<p><em>On the date of publication, Charles Munyi did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a></em></p>
<div><p>Charles Munyi has extensive writing experience in various industries, including personal finance, insurance, technology, wealth management and stock investing. He has written for a wide variety of financial websites including Benzinga, The Balance and Investopedia.</p></div><h3>More From InvestorPlace</h3>
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