Cummins stock holds after a $9.46 billion quarter

Cummins Inc. (US2310211063) is trading against a $9.46 billion quarterly revenue backdrop, a $6.73 per-share earnings result and an $80.93 billion market value as of August 23, 2026. Revenue rose 9.4% year over year, while earnings missed the $7.21 consensus estimate by $0.48, and the board lifted the quarterly dividend to $2.20 per share.

Earnings and dividend

The latest quarterly report from August 4, 2026 showed revenue above the $9.33 billion estimate, but EPS came in below expectations. That mix matters more than the headline revenue beat, because the margin profile still has to absorb higher operating friction even as sales growth stays positive.

MarketBeat's earnings summary put Cummins at a 30.04 P/E, a 1.24 beta and a 52-week range of $389.52 to $737.76. The same source also showed a 50-day moving average of $660.86 and a 200-day moving average of $628.31, with analysts carrying an average price target of $745.64 and a Moderate Buy view.

What analysts are seeing

The consensus setup suggests Wall Street is still treating Cummins as a durable industrial franchise, even after the August 4 earnings miss. The stock's $587.87 opening level sits below both moving averages and far under the 52-week high, which leaves the dividend hike and revenue trend as the two most visible support points in the current tape.

Institutional positioning adds another layer. Northwestern Mutual Wealth Management reported a new $18.25 million stake, and Kendall Capital Management disclosed a $5.51 million purchase, while institutional investors collectively held 83.46% of the shares.

Product backdrop

Cummins' product mix spans diesel and natural gas engines, electrified powertrains, generator sets and related components. That portfolio still gives the company exposure to freight, construction, power generation and data-center demand in one industrial platform.

For investors, the key tension is simple: the company is still producing $9.46 billion in quarterly revenue, but the market is asking whether $6.73 in EPS is enough to justify the valuation that followed the post-earnings rerating.

More on Cummins shares

Analysts have kept a Moderate Buy stance on Cummins, with a $745.64 average target tied to the latest broker consensus. The latest quarter, August 4, 2026, also brought a dividend increase to $2.20 a share, equal to an annualized $8.80 payout.

Company snapshot

Company: Cummins Inc.
ISIN: US2310211063
Ticker: CMI
Exchange: NYSE
Price (as of August 23, 2026, 4:00 p.m. ET): $587.87 USD
Market cap: $80.93 billion (as of August 23, 2026)
Sector / Industry: Industrials / Heavy Machinery
Index membership: S&P 500

Next earnings date: September 29, 2026