The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Cummins Inc. shares valued at $836,652 were sold by Fier Walter J on Feb 22. At $252.99 per share, Fier Walter J sold 3,307 shares. The insider’s holdings dropped to 8,090 shares worth approximately $1.71 million following the completion of this transaction.
25-cent Stock Takes $11T Commodities Sector Digital
One brilliantly-run technology firm has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector. Best of all, this upstart technology firm is currently trading undiscovered — below 25-cents per share — so very, very few investors know about it yet! For investors… it's an early-stage opportunity in a company that's bringing the US$11T global commodities sector straight into the 21st century.
All the details are in the FREE online report you can get here.
Sponsored
Also, Barner Sharon R sold 5,929 shares, netting a total of over 1,524,553 in proceeds. Following the sale of shares at $257.13 each, the insider now holds 16,144 shares.
Before that, Barner Sharon R had sold 5,540 shares from its account. In a trade valued at $1,397,976, the VP – Chief Administrative Off. traded Cummins Inc. shares for $252.34 each. Upon closing the transaction, the insider’s holdings decreased to 5,540 shares, worth approximately $3.41 million.
Analyzing CMI Stock Performance
On Thursday, Cummins Inc. [NYSE: CMI] rose 0.20% to $210.96. The stock’s lowest price that day was $208.64, but it reached a high of $212.765 in the same session. During the last five days, there has been a drop of approximately -1.72%. Over the course of the year, Cummins Inc. shares have dropped approximately -12.93%. Shares of the company reached a 52-week high of $261.91 on 03/07/23 and a 52-week low of $208.64 on 05/25/23. A 50-day SMA is recorded $226.49, while a 200-day SMA reached $233.60. Nevertheless, trading volume fell to 0.76 million shares from 0.79 million shares the previous day.
Support And Resistance Levels for Cummins Inc. (CMI)
According to the 24-hour chart, there is a support level at 208.81, which, if violated, would cause prices to drop to 206.66. In the upper region, resistance lies at 212.94. The next price resistance is at 214.91. RSI (Relative Strength Index) is 35.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.83, which suggests the price will decrease in the coming days. Percent R is at 88.14%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Cummins Inc. subject to short interest?
Stocks of Cummins Inc. saw a sharp steep in short interest on May 14, 2023 dropping by -0.54 million shares to 1.79 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 2.33 million shares. A decline of -30.17% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.08 of the overall float, the days-to-cover ratio (short ratio) decline to 2.08.
Which companies own the most shares of Cummins Inc. (CMI)?
According to The Vanguard Group, Inc. filings, the company currently owns 12,825,815 shares, which is about 9.07% of the total CMI shares outstanding. The investor’s shares have appreciated by 196,099 from its previous 13-F filing of 12629716.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $1,765,132,067. SSgA Funds Management, Inc. acquire a 3.05% interest valued at $1.52 billion while T. Rowe Price Associates, Inc. sold a -668,415 stake. A total of 5,324 shares of Cummins Inc. were sold by Geode Capital Management LLC during the quarter, and -456,599 were sold by Capital Research & Management Co. In its current portfolio, Columbia Management Investment Ad holds 2,178,973 shares valued at $512.15 million.
In terms of Cummins Inc. share price expectations, FactSet research, analysts set an average price target of $256.53 in the next 12 months, up nearly 21.6% from the previous closing price of $210.53. Analysts anticipate Cummins Inc. stock to reach $299.00 by 2023, with the lowest price target being $216.00. In spite of this, 24 analysts ranked Cummins Inc. stock as an Overweight at the end of 2023.