Avantax Advisory Services Inc. Purchases 453 Shares of Cummins Inc. (NYSE:CMI)

Avantax Advisory Services Inc. boosted its stake in Cummins Inc. (NYSE:CMIFree Report) by 10.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,675 shares of the company’s stock after buying an additional 453 shares during the period. Avantax Advisory Services Inc.’s holdings in Cummins were worth $1,068,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Lion Street Advisors LLC lifted its stake in Cummins by 3.5% in the 2nd quarter. Lion Street Advisors LLC now owns 1,291 shares of the company’s stock valued at $310,000 after purchasing an additional 44 shares during the last quarter. Haverford Trust Co raised its stake in shares of Cummins by 2.3% during the second quarter. Haverford Trust Co now owns 1,921 shares of the company’s stock valued at $471,000 after acquiring an additional 44 shares during the last quarter. Prospera Financial Services Inc raised its stake in shares of Cummins by 1.9% during the second quarter. Prospera Financial Services Inc now owns 2,370 shares of the company’s stock valued at $582,000 after acquiring an additional 45 shares during the last quarter. Columbia Trust Co 01012016 raised its stake in shares of Cummins by 1.2% during the third quarter. Columbia Trust Co 01012016 now owns 4,156 shares of the company’s stock valued at $949,000 after acquiring an additional 48 shares during the last quarter. Finally, Spears Abacus Advisors LLC raised its stake in shares of Cummins by 5.1% during the first quarter. Spears Abacus Advisors LLC now owns 982 shares of the company’s stock valued at $235,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

Cummins Trading Up 0.7 %

CMI opened at $249.92 on Friday. Cummins Inc. has a 1-year low of $203.18 and a 1-year high of $265.28. The company has a current ratio of 1.18, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. The company has a market cap of $35.42 billion, a P/E ratio of 48.25, a price-to-earnings-growth ratio of 1.36 and a beta of 1.02. The company has a fifty day moving average price of $238.47 and a two-hundred day moving average price of $233.53.

Cummins (NYSE:CMIGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $4.14 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.27). Cummins had a net margin of 2.16% and a return on equity of 25.68%. The company had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.10 billion. During the same period last year, the firm posted $4.52 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Analysts predict that Cummins Inc. will post 19.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CMI shares. Bank of America downgraded shares of Cummins from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $243.00 to $225.00 in a research note on Friday, January 19th. JPMorgan Chase & Co. dropped their price target on shares of Cummins from $255.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, January 18th. StockNews.com cut shares of Cummins from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 16th. TheStreet cut shares of Cummins from an “a-” rating to a “c+” rating in a research report on Tuesday. Finally, Morgan Stanley started coverage on shares of Cummins in a research report on Monday, January 8th. They set an “overweight” rating and a $278.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Cummins presently has a consensus rating of “Hold” and a consensus target price of $261.67.

View Our Latest Research Report on Cummins

About Cummins

(Free Report)

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 New Power. 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 new parts and services, as well as remanufactured parts and engines.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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