Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cummins Inc. shares valued at $7,474,875 were sold by Satterthwaite Tony on Aug 23 ’24. At $308.24 per share, Satterthwaite Tony sold 24,250 shares. The insider’s holdings dropped to 77,442 shares worth approximately $25.7 million following the completion of this transaction.
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Also, LIVINGSTON LORD SATTERTHWAITE purchased 24,250 shares, netting a total of over 7,474,876 in proceeds.
Before that, Barner Sharon R had sold 6,489 shares from its account. In a trade valued at $1,977,637, the VP – Chief Administrative Off. traded Cummins Inc. shares for $304.77 each. Upon closing the transaction, the insider’s holdings decreased to 6,489 shares, worth approximately $6.93 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 surge of approximately 0.57%. Over the course of the year, Cummins Inc. shares have jumped approximately 38.51%. Shares of the company reached a 52-week high of $340.82 on 10/18/24 and a 52-week low of $226.52 on 01/19/24. A 50-day SMA is recorded $317.90, while a 200-day SMA reached $288.01. Nevertheless, trading volume fell to 0.51 million shares from 0.34 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 328.53, which, if violated, would cause prices to drop to 325.23. In the upper region, resistance lies at 334.56. The next price resistance is at 337.29. RSI (Relative Strength Index) is 56.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.53, which suggests the price will decrease in the coming days. Percent R is at 62.53%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
