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Fintel reports that on December 22, 2025, Raymond James upgraded their outlook for Cummins (NYSE:CMI) from Market Perform to Outperform.

Analyst Price Forecast Suggests 4.25% Upside

As of December 21, 2025, the average one-year price target for Cummins is $541.33/share. The forecasts range from a low of $454.50 to a high of $685.65. The average price target represents an increase of 4.25% from its latest reported closing price of $519.28 / share.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Cummins is 30,512MM, a decrease of 9.14%. The projected annual non-GAAP EPS is 21.33.

What is the Fund Sentiment?

There are 2,536 funds or institutions reporting positions in Cummins. This is an increase of 64 owner(s) or 2.59% in the last quarter. Average portfolio weight of all funds dedicated to CMI is 0.31%, an increase of 5.31%. Total shares owned by institutions decreased in the last three months by 1.03% to 130,541K shares.

The put/call ratio of CMI is 0.75, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,428K shares representing 3.21% ownership of the company. In its prior filing, the firm reported owning 4,341K shares , representing an increase of 1.96%. The firm decreased its portfolio allocation in CMI by 4.91% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 3,911K shares representing 2.83% ownership of the company. In its prior filing, the firm reported owning 3,821K shares , representing an increase of 2.31%. The firm decreased its portfolio allocation in CMI by 4.98% over the last quarter.

Geode Capital Management holds 3,549K shares representing 2.57% ownership of the company. In its prior filing, the firm reported owning 3,499K shares , representing an increase of 1.41%. The firm decreased its portfolio allocation in CMI by 36.75% over the last quarter.

Fisher Asset Management holds 3,367K shares representing 2.44% ownership of the company. In its prior filing, the firm reported owning 3,275K shares , representing an increase of 2.73%. The firm increased its portfolio allocation in CMI by 20.88% over the last quarter.

VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 3,040K shares representing 2.20% ownership of the company. In its prior filing, the firm reported owning 2,961K shares , representing an increase of 2.62%. The firm decreased its portfolio allocation in CMI by 2.09% over the last quarter.

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This story originally appeared on Fintel.

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