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 $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 $0.38 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 $6.2 million.
As published in their initiating research note from Raymond James on June 28, 2024, Cummins Inc. [CMI] has been a Mkt perform. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in late June. As of May 10, 2024, TD Cowen has reiterated its “Buy” rating for CMI. Earlier on March 15, 2024, UBS upgraded its rating. Their new recommendation was “a Buy” for CMI stock which previously was a “a Neutral”.
Analyzing CMI Stock Performance
During the last five days, there has been a drop of approximately -2.89%. Over the course of the year, Cummins Inc. shares have jumped approximately 24.07%. Shares of the company reached a 52-week high of $322.83 on 08/01/24 and a 52-week low of $226.52 on 01/19/24. A 50-day SMA is recorded $281.20, while a 200-day SMA reached $263.22. Nevertheless, trading volume fell to 0.58 million shares from 0.85 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 294.09, which, if violated, would cause prices to drop to 290.93. In the upper region, resistance lies at 299.74. The next price resistance is at 302.23. RSI (Relative Strength Index) is 56.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.58, which suggests the price will increase in the coming days. Percent R is at 57.15%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
