Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cummins Inc shares valued at $798,403 were purchased by SHARON BARNER on Nov 21 ’24. At $369.12 per share, SHARON BARNER acquired 2,163 shares.
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Also, Barner Sharon R sold 2,163 shares, netting a total of over 784,071 in proceeds. Following the sale of shares at $362.49 each, the insider now holds 20,803 shares.
Before that, JACKSON DONALD G had sold 4,985 shares from its account. In a trade valued at $1,775,697, the VP – Treasury & Tax traded Cummins Inc shares for $356.21 each. Upon closing the transaction, the insider’s holdings decreased to 4,985 shares, worth approximately $1.52 million.
As published in a research note from Evercore ISI on November 13, 2024, Cummins Inc [CMI] has been rated up from an In-line to an Outperform and the price target has been revised to $408 from $294. Analysts at Vertical Research downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early November. As of June 28, 2024, Raymond James has initiated its “Mkt perform” rating for CMI. Earlier on June 26, 2024, Citigroup initiated 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 1.41%. Over the course of the year, Cummins Inc shares have jumped approximately 53.97%. Shares of the company reached a 52-week high of $370.64 on 11/21/24 and a 52-week low of $226.52 on 01/19/24. A 50-day SMA is recorded $334.38, while a 200-day SMA reached $297.17. Nevertheless, trading volume fell to 0.51 million shares from 0.49 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 362.39, which, if violated, would cause prices to drop to 355.91. In the upper region, resistance lies at 372.99. The next price resistance is at 377.11. RSI (Relative Strength Index) is 70.45 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.15, which suggests the price will increase in the coming days. Percent R is at 3.88%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
