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

Avior Wealth Management LLC increased its position in shares of Cummins Inc. (NYSE:CMI) by 44.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 342 shares of the company’s stock after purchasing an additional 106 shares during the period. Avior Wealth Management LLC’s holdings in Cummins were worth $111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CMI. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Cummins in the second quarter valued at about $28,000. Cultivar Capital Inc. bought a new stake in Cummins in the 2nd quarter valued at about $28,000. Lynx Investment Advisory acquired a new position in shares of Cummins during the 2nd quarter worth approximately $29,000. LRI Investments LLC bought a new position in shares of Cummins during the first quarter worth approximately $31,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Cummins in the third quarter valued at approximately $34,000. 83.46% of the stock is currently owned by institutional investors.

Cummins Trading Up 1.5 %

Shares of Cummins stock opened at $372.62 on Friday. The firm has a market capitalization of $51.12 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.79 and a beta of 0.97. The company has a current ratio of 1.32, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $335.78 and its 200 day moving average is $304.53. Cummins Inc. has a 1 year low of $222.04 and a 1 year high of $373.35.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $0.97. Cummins had a net margin of 6.13% and a return on equity of 26.86%. The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the business earned $4.73 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts forecast that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently declared 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 payout ratio is 48.08%.

Insider Transactions at Cummins

In related news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the sale, the vice president now directly owns 20,803 shares in the company, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CMI. Vertical Research downgraded Cummins from a “buy” rating to a “hold” rating and set a $350.00 price target on the stock. in a research report on Wednesday, November 6th. Citigroup raised their price target on Cummins from $375.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI raised Cummins from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $294.00 to $408.00 in a research note on Wednesday, November 13th. StockNews.com upgraded shares of Cummins from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Robert W. Baird boosted their target price on shares of Cummins from $330.00 to $372.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $337.67.

About Cummins

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.