Avior Wealth Management LLC Purchases 106 Shares of Cummins Inc. (NYSE:CMI)

Avior Wealth Management LLC increased its holdings in shares of Cummins Inc. (NYSE:CMI) by 44.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 342 shares of the company’s stock after acquiring an additional 106 shares during the period. Avior Wealth Management LLC’s holdings in Cummins were worth $111,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Cummins in the third quarter valued at $4,883,000. Banque Cantonale Vaudoise increased its position in Cummins by 27.1% in the 3rd quarter. Banque Cantonale Vaudoise now owns 16,727 shares of the company’s stock valued at $5,416,000 after acquiring an additional 3,567 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its stake in shares of Cummins by 2.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,610 shares of the company’s stock worth $1,169,000 after acquiring an additional 82 shares during the last quarter. Verity & Verity LLC lifted its position in shares of Cummins by 1.0% during the third quarter. Verity & Verity LLC now owns 34,640 shares of the company’s stock worth $11,216,000 after purchasing an additional 357 shares in the last quarter. Finally, Caprock Group LLC grew its stake in shares of Cummins by 3.1% during the third quarter. Caprock Group LLC now owns 8,579 shares of the company’s stock valued at $2,778,000 after purchasing an additional 255 shares during the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on CMI shares. Citigroup upped their price objective on Cummins from $375.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on Cummins from $285.00 to $340.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. Robert W. Baird lifted their price objective on Cummins from $330.00 to $372.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their target price on shares of Cummins from $324.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, Barclays lifted their price target on shares of Cummins from $259.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $337.67.

Insider Buying and Selling

In other Cummins news, VP Sharon R. Barner sold 162 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the sale, the vice president now owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 6,489 shares of company stock worth $2,357,531. Insiders own 0.56% of the company’s stock.

Cummins Stock Up 1.5 %

NYSE:CMI opened at $372.62 on Friday. The stock has a 50-day simple moving average of $335.78 and a 200 day simple moving average of $304.53. Cummins Inc. has a 52-week low of $222.04 and a 52-week high of $373.35. The company has a market cap of $51.12 billion, a PE ratio of 24.61, a PEG ratio of 1.79 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.32.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $0.97. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.29 billion. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.73 earnings per share. On average, sell-side analysts expect that Cummins Inc. will post 20.75 EPS for the current fiscal year.

Cummins Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd will be paid a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, November 22nd. Cummins’s dividend payout ratio is currently 48.08%.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.