Cummins Inc.’s recent filing unveils that its Senior Vice President Satterthwaite Tony unloaded Company’s shares for reported $7.47 million on Aug 23 ’24. In the deal valued at $308.24 per share,24,250 shares were sold. As a result of this transaction, Satterthwaite Tony now holds 77,442 shares worth roughly $25.76 million.
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Then, LIVINGSTON LORD SATTERTHWAITE bought 24,250 shares, generating $7,474,876 in total proceeds.
Before that, Barner Sharon R sold 6,489 shares. Cummins Inc. shares valued at $1,977,637 were divested by the VP – Chief Administrative Off. at a price of $304.77 per share. As a result of the transaction, Barner Sharon R now holds 20,873 shares, worth roughly $6.94 million.
Raymond James initiated its Cummins Inc. [CMI] rating to a Mkt perform in a research note published recently. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in late June with a ‘”a Buy”‘ rating. TD Cowen also remained covering CMI and reiterated its “Buy” recommendation on May 10, 2024. UBS revised its rating on March 15, 2024. It rated CMI as “a Buy” which previously was an “a Neutral”.
Price Performance Review of CMI
On Tuesday, Cummins Inc. [NYSE:CMI] saw its stock fall -1.68% to $332.68. Over the last five days, the stock has gained 0.93%. Cummins Inc. shares have risen nearly 38.87% since the year began. Nevertheless, the stocks have risen 46.09% over the past one year. While a 52-week high of $338.78 was reached on 10/15/24, a 52-week low of $212.80 was recorded on 01/19/24. SMA at 50 days reached $309.85, while 200 days put it at $282.84.
Levels Of Support And Resistance For CMI Stock
The 24-hour chart illustrates a support level at 330.02, which if violated will result in even more drops to 327.36. On the upside, there is a resistance level at 337.56. A further resistance level may holdings at 342.44. The Relative Strength Index (RSI) on the 14-day chart is 63.40, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.74, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 38.48%. Stochastics %K at 84.16% indicates the stock is a selling.
How much short interest is there in Cummins Inc.?
A steep rise in short interest was recorded in Cummins Inc. stocks on 2024-09-30, growing by 0.2 million shares to a total of 2.34 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 2.14 million shares. There was a rise of 8.66%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on March 14, 2024 when Truist began covering the stock and recommended ‘”a Hold”‘ rating along with a $303 price target.
