Recent Insider Transactions • May 21
Insider recently sold €3.0m worth of stock On the 12th of May, Jennifer Bush sold around 5k shares on-market at roughly €594 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €23m more than they bought in the last 12 months. Annuncio • Apr 06
Cummins Inc., Annual General Meeting, May 12, 2026 Cummins Inc., Annual General Meeting, May 12, 2026. Buy Or Sell Opportunity • Mar 13
Now 21% undervalued Over the last 90 days, the stock has risen 5.8% to €469. The fair value is estimated to be €594, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 13%. For the next 3 years, revenue is forecast to grow by 6.9% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Recent Insider Transactions • Mar 07
Insider recently sold €2.0m worth of stock On the 3rd of March, Amy Davis sold around 4k shares on-market at roughly €484 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €9.1m. Insiders have been net sellers, collectively disposing of €14m more than they bought in the last 12 months. Recent Insider Transactions • Feb 17
Independent Director recently sold €9.1m worth of stock On the 11th of February, William Miller sold around 18k shares on-market at roughly €503 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €10m more than they bought in the last 12 months. Declared Dividend • Feb 16
Fourth quarter dividend of US$2.00 announced Shareholders will receive a dividend of US$2.00. Ex-date: 20th February 2026 Payment date: 5th March 2026 Dividend yield will be 1.5%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 9.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 53% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annuncio • Feb 11
Cummins Inc. Declares Quarterly Common Stock Dividend, Payable on March 5, 2026 The Board of Directors of Cummins Inc. declared a quarterly common stock cash dividend of $2.00 per share. The dividend is payable on March 5, 2026, to shareholders of record on February 20, 2026. Reported Earnings • Feb 06
Full year 2025 earnings released: EPS: US$20.62 (vs US$28.55 in FY 2024) Full year 2025 results: EPS: US$20.62 (down from US$28.55 in FY 2024). Revenue: US$33.7b (down 1.3% from FY 2024). Net income: US$2.84b (down 28% from FY 2024). Profit margin: 8.4% (down from 12% in FY 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Feb 05
Cummins Inc. Provides Earnings Guidance for the Full Year of 2026 Cummins Inc. provided earnings guidance for the full year of 2026. Based on its current forecast, the company projects full-year 2026 revenue to be in the range of up 3% to 8%, and EBITDA to be in the range of 17.0% and 18.0% of sales. The company remains well-positioned to invest in future growth, deliver strong financial results and return cash to shareholders in 2026. Upcoming Dividend • Nov 14
Upcoming dividend of US$2.00 per share Eligible shareholders must have bought the stock before 21 November 2025. Payment date: 04 December 2025. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (3.4%). Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: US$3.88 (vs US$5.90 in 3Q 2024) Third quarter 2025 results: EPS: US$3.88 (down from US$5.90 in 3Q 2024). Revenue: US$8.32b (down 1.6% from 3Q 2024). Net income: US$536.0m (down 34% from 3Q 2024). Profit margin: 6.4% (down from 9.6% in 3Q 2024). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 19% per year. Declared Dividend • Oct 20
Second quarter dividend of US$2.00 announced Shareholders will receive a dividend of US$2.00. Ex-date: 21st November 2025 Payment date: 4th December 2025 Dividend yield will be 2.2%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (34% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 9.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 42% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annuncio • Oct 15
Cummins Inc. Declares Quarterly Common Stock Dividend, Payable on December 4, 2025 The Board of Directors of Cummins Inc. declared a quarterly common stock cash dividend of 2.00 dollars per share. The dividend is payable on December 4, 2025, to shareholders of record on November 21, 2025. Annuncio • Jan 08
Cummins Inc. Launches Next Generation 6.7L Turbo Diesel Pickup Engine System for 2025 Ram Heavy Duty Trucks Cummins Inc. unveiled the new 2025 6.7-liter Turbo Diesel Pickup engine system for Ram Heavy Duty, their most advanced diesel pickup engine yet. As part of this, Cummins and Stellantis have extended their partnership to supply Ram Brand through 2030, paving the way for continued innovation among the most iconic Pickup brands in the business. Cummins’ 6.7-liter Turbo Diesel advanced engine system and powertrain will be offered in the recently announced 2025 Ram 2500, 3500 Heavy Duty Pickups and Ram 3500, 4500 and 5500 Chassis Cab trucks. The next generation of the Cummins 6.7L Turbo Diesel engine system was designed with steadfast commitment to reliability and durability, living up to the 106-year-old brand customers expect, while setting new benchmarks for performance and efficiency. Cummins’ latest offering delivers enhanced performance alongside High-Output ratings of 430 horsepower and 1,075 lb.-ft. of torque for Pickups, and 360 horsepower and 800 lb.-ft. of torque for Chassis Cab. In close collaboration with Ram and their powertrain providers, the 2025 Cummins 6.7L Turbo Diesel engine is optimized with a brand-new 8-speed transmission, providing the right combinations of power, responsiveness and driveability. All 2025 Ram Heavy Duty truck models powered by Cummins received noticeable gains in acceleration and power, driving home stronger overall truck performance and towing capability. The Ram 2500 gained improvements in towing speeds and responsiveness, with faster 0-60 mph and quarter-mile times, especially when towing heavy loads. These enhancements promise drivers smoother transient responses and greater confidence under towing conditions. Noise, vibration and harshness were also improved using helical valve train synchronizing gears which enable a quieter ride. The latest power offering for Pickups and Chassis Cab from Cummins includes advanced emissions air handling that also introduces a new airflow management design. This accompanies a new high-pressure fuel delivery system that offers top feed dry service injectors and a new fuel pump. Cummins’ newest variable-geometry turbocharger for the new 6.7-liter delivers intelligent condition-based power output that is now faster and more efficient. Cummins has also introduced new features that make it easier to service the engine system and get back on the road. Software updates can now be executed from the comfort and convenience of inside the truck. In addition, the oil filter and dual fuel filter are now thoughtfully positioned to enable serviceability from the top side of the engine, improving the ease of maintenance—resulting in faster and less complex servicing for the 2025 Cummins 6.7-liter Turbo Diesel. Additionally, the Cummins 6.7 Turbo Diesel Pickup and Chassis Cab engine systems offer significantly improved cold-start management with the integration of advanced glow plug technology. By reducing the wait to start time, this enhancement ensures reliable vehicle operation even in the harshest and most extreme weather conditions. Together since 1989, Cummins and Ram set the standard for innovation, power and durability; and the two are marking more than 35 years of partnership that will continue beyond the decade. Built in Columbus, Indiana, the 6.7 Turbo Diesel has evolved from the first generation 5.9-liter, 160-horsepower to today’s 6.7-liter engine up to 430 horsepower. Annuncio • Nov 05
Cummins Inc. Revises Earnings Guidance for the Year 2024 Cummins Inc. revised earnings guidance for the year 2024. Based on its current forecast, the company is maintaining its full-year 2024 revenue guidance to be in the range of down 3% to flat. Annuncio • Oct 16
Cummins Inc. Declares Quarterly Common Stock Dividend, Payable on December 5, 2024 The Board of Directors of Cummins Inc. declared a quarterly common stock cash dividend of USD 1.82 per share. The dividend is payable on December 5, 2024, to shareholders of record on November 22, 2024. Annuncio • Oct 08
Cummins Inc. to Report Q3, 2024 Results on Nov 05, 2024 Cummins Inc. announced that they will report Q3, 2024 results on Nov 05, 2024 Annuncio • Aug 02
Cummins Inc. Raises Earnings Guidance for the Full Year 2024 Cummins Inc. raised earnings guidance for the full year 2024. for the year, the company is raising its full-year 2024 revenue guidance to be down 3% to flat, an improvement from prior guidance of down 2% to 5%, due to stronger than expected demand across several markets, especially in North America on-highway and power generation. Annuncio • Jul 12
Accelera by Cummins Receives $75 Million for Zero-Emissions Manufacturing from Department of Energy Cummins Inc. announced that the company has been awarded $75 million to convert approximately 360,000 sq. ft. of existing manufacturing space at its Columbus (Indiana) Engine Plant (CEP) for zero-emissions components and electric powertrain systems. The $75 million grant is the largest federal grant ever awarded solely to Cummins and is part of the appropriations related to the Inflation Reduction Act. Cummins will match the grant and invest $75 million for a total of $150 million to convert the space and expand production of battery packs, powertrain systems and other battery-electric vehicle (BEV) components for Accelera by Cummins, the company’s zero-emissions business segment. To support this additional manufacturing capacity, Cummins anticipates adding approximately 250 full-time jobs, with opportunities for the plant’s existing workforce to transition to many of these positions over time. After the completion of this project, CEP will house approximately 350 employees focused on BEV-related work. Nearly half of the 1.42 million sq. ft. facility, which opened in 1926, will be dedicated to zero-emissions manufacturing. The electric powertrains produced at CEP will result in greenhouse gas emission reductions of approximately 104 million metric tons of carbon dioxide by 2030. Through its Destination Zero strategy, Cummins is committed to helping customers seamlessly and successfully transition to a zero-emissions future and understands that a variety of solutions are required to reach this goal. The company is unique in its ability to meet customers’ needs wherever they are in their journey, offering fuel-agnostic engine platforms powered by advanced diesel, natural gas and alternate fuels; fully electric and hydrogen fuel cell solutions; and key components. Cummins continues to be committed to advancing all of these solutions. Annuncio • Jul 10
Cummins Inc. Increases Quarterly Common Stock Dividend, Payable on September 5, 2024 The Board of Directors of Cummins Inc. approved an increase in the company’s quarterly common stock cash dividend of approximately 8.3% from USD 1.68 per share to USD 1.82 per share. The dividend is payable on September 5, 2024, to shareholders of record on August 23, 2024. Cummins has increased the quarterly common stock dividend to shareholders for 15 consecutive years. Annuncio • May 31
Cummins Inc Announces Retirement of Tony Satterthwaite as Senior Vice President, Effective September 2024 Cummins Inc. announced that Senior Vice President Tony Satterthwaite will retire, effective September 2024, after 36 years in leadership positions with the company. Satterthwaite joined the company in 1988, holding several critical sales, regional and business leadership roles throughout his tenure. Early in his career, he led sales and product planning in several areas of the company’s off-highway engine business before moving to Singapore to lead the company’s Southeast Asia region. From there, Satterthwaite spent many years in the company’s Power Generation Business, ultimately serving as President. In this role, he oversaw a period of tremendous growth and profitability for the business, leading several successful product launches, including bringing the 95-liter Hedgehog into the power generation market, while also expanding the Power Generation business internationally and entering the data center market for the first time. Annuncio • May 23
Accelera Launches Next-Gen Hydrogen and Electric Solutions for Commercial Vehicles Accelera™ by Cummins has launched the next generation of several of its cutting-edge decarbonizing technologies that are shaping the future of clean transportation. New versions of its hydrogen fuel cell engines, a high efficiency eAxle, and its next-generation batteries are among the new products Accelera unveiled at this year’s Advanced Clean Transportation (ACT) Expo on May 20 in Las Vegas. More powerful fuel cell engines: The latest generation of Accelera's fuel cell technology can be found in the newly launched FCE300 and FCE150 fuel cell engines. Both offer increased power density for larger systems, improved system efficiency and advanced durability. The modular architecture enables seamless configurations for a multitude of applications and layouts, while streamlining integration processes for on- and off-highway mobile and stationary applications. Accelera’s 300kW fuel cell engine will be on display at ACT Expo in addition to a Navistar RH International Class 8 heavy-duty truck equipped with two rail-mounted FCE150 engines and Accelera’s newest eAxle. This clean-power configuration showcases the connectivity and versatility of Accelera’s offerings. eAxle technology advancements: Touting increased energy efficiency, the next-gen 14Xe is Accelera’s newest and most versatile eAxle. Available with a 3-speed twin-countershaft or a 2-speed planetary transmission, the 14Xe is designed to accommodate increased torque, power and battery voltage requirements. The new 14Xe also minimizes the need for wheel-end reductions, making it a more flexible option for customers. For an enhanced electric drivetrain with an increased focus on functional safety and cybersecurity, the 14Xe is equipped with Accelera’s ELFA 3 V3.2, a high-power inverter. The 14Xe is best suited for heavy-duty 6x4 applications in a tandem configuration or as a single application for medium-duty and school bus applications. Adaptable and reliable battery innovations: Accelera's BP104E is its newest and most flexible battery platform. This next-gen lithium iron phosphate (LFP) platform is highly modular and can adapt easily to different customer needs, providing superior life performance and fast charging capabilities. With a rated energy capacity of 104kWh and a max voltage range of 830V, the BP104E is engineered to redefine energy storage standards along with unparalleled performance, reliability and safety to meet the evolving demands of the transportation sector. The next-gen LFP chemistry composition and cell-to-pack architecture also make it more energy dense and cost competitive. Volume production of this battery is planned for 2027 with locally manufactured cells in the U.S. Accelerating the shift to zero emissions: These next-gen products join Accelera’s wide range of innovative zero-emissions solutions that span the hydrogen and electrification value chains. Also on display at ACT Expo are the BP97E nickel manganese cobalt (NMC) battery pack; the BP107E LFP battery pack; and the 1 CS2002 high powered, remote-mount, direct-drive traction motor. Many of these products can be easily integrated into existing commercial vehicles or paired with other Accelera products, making for a seamless transition to lower- or zero-carbon applications for customers. Annuncio • May 16
Cummins Inc. Declares Quarterly Common Stock Dividend, Payable on June 6, 2024 The Board of Directors of Cummins Inc. declared a quarterly common stock cash dividend of $1.68 per share, payable on June 6, 2024, to shareholders of record on May 24, 2024. Annuncio • May 14
Cummins Inc. and Isuzu Motors Limited Introduce New 6.7-Liter Engine for Japan, Southeast Asia and Other Global Markets Cummins Inc. and Isuzu Motors Limited 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. Isuzu and Cummins signed the Isuzu Cummins Powertrain Partnership in May 2019 to realize the efficient development of next-generation powertrains. The two companies agreed to collaborate globally in the medium-duty diesel powertrain segment, and the newly developed DB6A is the first engine to be incorporated into the FORWARD medium-duty truck as a result. In 2022, Isuzu North America Corporation Commercial integrated the Cummins B6.7™? into its FTR and FVR trucks for customers in the United States and Canada. As Cummins continues to be a global leader in diesel and to innovate and advance future power sources for commercial vehicles, this collaboration paves the way for future opportunities to harness the technology and products of each company to drive global growth. The two companies formally unveiled the new engine with a ceremony at Isuzu's Tochigi Plant in January. Annuncio • May 03
Cummins Inc. Provides Earnings Guidance for 2024 Based on its current forecast, Cummins projects full year 2024 revenues to decline 2% to 5% on a year-over- year basis. Due to strong global demand, the revenue guidance is unchanged as compared to the prior guidance despite the separation of Atmus. Annuncio • Apr 24
As You Sow Files an Exempt Solicitation and Solicits Votes for the Proposal On April 23, 2024, As You Sow filed an exempt solicitation statement and urged the shareholders of Cummins Inc to vote for the shareholder proposal requesting the Board to disclose a plan, at reasonable expense and excluding confidential information, to link executive compensation to 1.5°C-aligned greenhouse gas emissions reductions across the Company’s full value chain., at the 2024 annual meeting of shareholders on May 14, 2024. New Risk • Mar 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 56% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (125% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). Buy Or Sell Opportunity • Mar 02
Now 20% undervalued Over the last 90 days, the stock has risen 23% to €249. The fair value is estimated to be €312, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 2.2% per annum. Earnings are also forecast to grow by 26% per annum over the same time period. Declared Dividend • Feb 19
Fourth quarter dividend of US$1.68 announced Shareholders will receive a dividend of US$1.68. Ex-date: 22nd February 2024 Payment date: 7th March 2024 Dividend yield will be 2.5%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is not covered by earnings (125% earnings payout ratio). However, it is well covered by cash flows (35% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 39% to bring the payout ratio under control. EPS is expected to grow by 106% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Annuncio • Feb 14
Cummins Inc. Declares Quarterly Common Stock Dividend, Payable on March 7, 2024 The Board of Directors of Cummins Inc. declared a quarterly common stock cash dividend of 1.68 dollars per share, payable on March 7, 2024, to shareholders of record on February 23, 2024. Reported Earnings • Feb 07
Full year 2023 earnings released: EPS: US$5.19 (vs US$15.20 in FY 2022) Full year 2023 results: EPS: US$5.19 (down from US$15.20 in FY 2022). Revenue: US$34.1b (up 21% from FY 2022). Net income: US$735.0m (down 66% from FY 2022). Profit margin: 2.2% (down from 7.7% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 5% per year. Annuncio • Feb 06
Cummins Inc. Provides Earnings Guidance for the Year 2024 Cummins Inc. provided earnings guidance for the year 2024. Based on its current forecast, the company projects full year 2024 revenues to decline 2% to 5% on a year-over-year basis. Buying Opportunity • Dec 21
Now 20% undervalued Over the last 90 days, the stock is up 2.4%. The fair value is estimated to be €278, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings is also forecast to grow by 1.3% per annum over the same time period. New Risk • Nov 04
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 40% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. Minor Risk High level of debt (40% net debt to equity). Annuncio • Nov 03
Cummins Inc. Raises Earnings Guidance for the Full Year 2023 Cummins Inc. raised earnings guidance for the full year 2023. For the period, the company raising its full year 2023 revenue guidance to be up 18% to 21% due to strong demand across most markets, especially North America. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: US$4.63 (vs US$2.84 in 3Q 2022) Third quarter 2023 results: EPS: US$4.63 (up from US$2.84 in 3Q 2022). Revenue: US$8.43b (up 15% from 3Q 2022). Net income: US$656.0m (up 64% from 3Q 2022). Profit margin: 7.8% (up from 5.5% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Machinery industry in Germany. Annuncio • Oct 28
Cummins Inc. Names Amy Davis President of Components Business Segment Cummins Inc. announced that Amy Davis will assume leadership of both the Accelera and Components Business Segments, serving as President – Accelera and Components, effective November 1, 2023. Davis has led the Accelera business since 2020 and has a strong track record of growing and evolving the businesses she leads, while leaning on existing skills and investing in the growth and development of her workforce. In Accelera, Davis led the acquisition and integration of several key businesses, growing annual revenues more than 400% and increasing electrolyzer order backlog tenfold. Davis is very familiar with the Components Business, having served as Vice President of the Cummins Filtration business prior to her current role, where she achieved record revenues and profits. Davis joined Cummins in 1994 and had held numerous roles. Prior to her role in the Filtration Business, she served as President of the Cummins Northeast distributor, where she oversaw significant revenues and profit increases. She has also served in other roles at Cummins, including General Manager of the European Bus Business; Marketing Communications for the Engine segment; leader of Market Strategy, Planning and Customer Support Excellence in global engine markets; and Executive Director of the Medium Truck and Bus Business. Annuncio • Oct 18
Cummins Inc. Announces Departure of Mahesh Narang as President of the Components Business, Effective on October 27, 2023 Cummins Inc. announced that Mahesh Narang, Cummins Vice President and President of the Components Business, is departing Cummins on Oct. 27 to pursue an external opportunity. Mahesh served in a variety of business leadership roles during his more-than 20-year career at Cummins. Narang has led the Components Business since 2021. During that time, Mahesh launched a forward-thinking strategic framework for the business, focused on driving growth in core diesel segments, while also expanding into adjacencies and new technologies on the path to zero. Mahesh grew the business, expanded its capabilities, and led the acquisition and integration of Jacobs Vehicle Systems and Meritor, the largest acquisition in Cummins’ history. Prior to his current role, Narang led Cummins Emission Solutions, a global leader in designing, manufacturing and integrating exhaust aftertreatment solutions to meet the highest emissions standards worldwide. He also previously served as Vice President and General Manager of Cummins Turbo Technologies, another business unit within the Components Segment, as well as Chief Operating Officer of Cummins’ India Area Business Organization. Annuncio • Jul 01
Cummins Inc. (NYSE:CMI) acquired 19% stake in Hydrogenics Corporation from L'Air Liquide S.A. (ENXTPA:AI). Cummins Inc. (NYSE:CMI) acquired 19% stake in Hydrogenics Corporation from L'Air Liquide S.A. (ENXTPA:AI) on June 30, 2023.Cummins Inc. (NYSE:CMI) completed the acquisition of 19% stake in Hydrogenics Corporation from L'Air Liquide S.A. (ENXTPA:AI) on June 30, 2023. 
