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Cummins Inc. (CMI) may enjoy gains as insiders got busy in the recent days

Cummins Inc.’s filing revealed that its VP – Chief Administrative Off. Barner Sharon R unloaded Company’s shares for reported $0.57 million on Feb 28 ’24. In the deal valued at $271.29 per share,2,100 shares were sold. As a result of this transaction, Barner Sharon R now holds 16,899 shares worth roughly $4.96 million.

Then, Quintos Karen H sold 1,000 shares, generating $270,238 in total proceeds. Upon selling the shares at $270.24, the Director now owns 2,835 shares.

Before that, Fisher Daniel William bought 562 shares. Cummins Inc. shares valued at $149,810 were divested by the Director at a price of $266.57 per share. As a result of the transaction, Fisher Daniel William now holds 1,068 shares, worth roughly $0.31 million.

UBS upgraded its Cummins Inc. [CMI] rating to a Buy from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including Truist’s analysts, who began to cover the stock in mid March with a ‘”a Hold”‘ rating. TD Cowen also remained covering CMI and reiterated its “an Outperform” recommendation on February 07, 2024. BofA Securities revised its rating on January 19, 2024. It rated CMI as “an Underperform” which previously was an “a Neutral”.

Price Performance Review of CMI

On Monday, Cummins Inc. [NYSE:CMI] saw its stock jump 0.86% to $293.65. Over the last five days, the stock has gained 1.12%. Cummins Inc. shares have risen nearly 22.57% since the year began. Nevertheless, the stocks have risen 27.18% over the past one year. While a 52-week high of $304.24 was reached on 04/11/24, a 52-week low of $203.18 was recorded on 01/19/24. SMA at 50 days reached $283.32, while 200 days put it at $247.26. A total of 0.47 million shares were traded, compared to the trading of 0.48 million shares in the previous session.

Levels Of Support And Resistance For CMI Stock

The 24-hour chart illustrates a support level at 291.96, which if violated will result in even more drops to 290.27. On the upside, there is a resistance level at 294.87. A further resistance level may holdings at 296.09. The Relative Strength Index (RSI) on the 14-day chart is 56.00, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.89, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 54.83%. Stochastics %K at 37.33% indicates the stock is a holding.

The most recent change occurred on January 08, 2024 when Morgan Stanley began covering the stock and recommended ‘”an Overweight”‘ rating along with a $278 price target.

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