Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cummins Inc. shares valued at $80,401 were purchased by Wiltrout Jeffrey T on May 24 ’24. At $285.11 per share, Wiltrout Jeffrey T acquired 282 shares. The insider’s holdings grew to 1,262 shares worth approximately $0.35 million following the completion of this transaction.
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Also, Boakye Marvin purchased 1,745 shares, netting a total of over 499,133 in proceeds. Following the buying of shares at $286.04 each, the insider now holds 1,745 shares.
Before that, Barner Sharon R had sold 2,390 shares from its account. In a trade valued at $708,110, the VP – Chief Administrative Off. traded Cummins Inc. shares for $296.28 each. Upon closing the transaction, the insider’s holdings decreased to 2,390 shares, worth approximately $5.81 million.
As published in a research note from TD Cowen on May 10, 2024, Cummins Inc. [CMI] has been retained to a Buy and the price target has been revised to $292. Analysts at UBS upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid March. As of March 14, 2024, Truist has initiated its “Hold” rating for CMI. Earlier on February 07, 2024, TD Cowen resumed its rating. Their recommendation was “an Outperform” for CMI stock.
Analyzing CMI Stock Performance
During the last five days, there has been a surge of approximately 2.24%. Over the course of the year, Cummins Inc. shares have jumped approximately 16.17%. Shares of the company reached a 52-week high of $304.24 on 04/11/24 and a 52-week low of $226.52 on 01/19/24. A 50-day SMA is recorded $284.76, while a 200-day SMA reached $253.94. Nevertheless, trading volume fell to 2.12 million shares from 0.94 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 274.85, which, if violated, would cause prices to drop to 271.40. In the upper region, resistance lies at 282.82. The next price resistance is at 287.34. RSI (Relative Strength Index) is 50.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.37, which suggests the price will decrease in the coming days. Percent R is at 24.90%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
