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 $798,403 were sold by Barner Sharon R on Nov 21 ’24. At $369.12 per share, Barner Sharon R sold 2,163 shares. The insider’s holdings dropped to 20,803 shares worth approximately $7.23 million following the completion of this transaction.
Also, SHARON BARNER purchased 2,163 shares, netting a total of over 798,403 in proceeds.
Before that, Barner Sharon R had sold 2,163 shares from its account. In a trade valued at $784,071, the VP – Chief Administrative Off. traded Cummins Inc shares for $362.49 each. Upon closing the transaction, the insider’s holdings decreased to 2,163 shares, worth approximately $7.23 million.
As published in a research note from JP Morgan on December 09, 2024, Cummins Inc [CMI] has been rated up from an Underweight to a Neutral and the price target has been revised to $420 from $355. Analysts at Evercore ISI upgraded the stock from ‘”an In-line”‘ to ‘”an Outperform”‘ outlook in a report released in mid November. As of November 06, 2024, Vertical Research has decreased its “Buy” rating to a “Hold” for CMI. Earlier on June 28, 2024, Raymond James initiated its rating. Their recommendation was “a Mkt perform” for CMI stock.
Analyzing CMI Stock Performance
During the last five days, there has been a drop of approximately -1.75%. Over the course of the year, Cummins Inc shares have dropped approximately -0.27%. Shares of the company reached a 52-week high of $352.40 on 01/02/25 and a 52-week low of $347.19 on 01/02/25. A 50-day SMA is recorded $357.02, while a 200-day SMA reached $310.56. Nevertheless, trading volume fell to 0.52 million shares from 0.37 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 345.76, which, if violated, would cause prices to drop to 343.87. In the upper region, resistance lies at 350.97. The next price resistance is at 354.29. RSI (Relative Strength Index) is 35.42 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.99, which suggests the price will decrease in the coming days. Percent R is at 93.07%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
