Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. 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 $27.47 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 $7.4 million.
As published in a research note from Vertical Research on November 06, 2024, Cummins Inc [CMI] has been rated down from a Buy to a Hold and the price target has been revised to $350. Analysts at Raymond James started covering the stock with ‘”a Mkt perform”‘ outlook in a report released in late June. As of June 26, 2024, Citigroup has initiated its “Buy” rating for CMI. Earlier on May 10, 2024, TD Cowen resumed its rating. Their recommendation was “a Buy” for CMI stock.
Analyzing CMI Stock Performance
During the last five days, there has been a surge of approximately 7.82%. Over the course of the year, Cummins Inc shares have jumped approximately 48.07%. Shares of the company reached a 52-week high of $370.21 on 11/06/24 and a 52-week low of $226.52 on 01/19/24. A 50-day SMA is recorded $322.04, while a 200-day SMA reached $291.24. Nevertheless, trading volume fell to 0.63 million shares from 1.16 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 352.55, which, if violated, would cause prices to drop to 350.38. In the upper region, resistance lies at 358.56. The next price resistance is at 362.40. RSI (Relative Strength Index) is 70.44 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 19.21, which suggests the price will increase in the coming days. Percent R is at 34.07%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
