Cummins (NYSE:CMI) has tumbled 1.57% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 5.52% in the last four weeks. The stocks have underperformed the S&P 500 by 0.39% during the past week but Cummins (NYSE:CMI) it has outperformed the index in 4 weeks by 4.55%.
Cummins (NYSE:CMI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $113.49 and $112.71 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $115.15. The buying momentum continued till the end and the stock did not give up its gains. It closed at $114.18, notching a gain of 0.73% for the day. The total traded volume was 2,229,061 . The stock had closed at $113.35 on the previous day.
The company shares have dropped -16.13% from its 1 Year high price. On Jun 24, 2015, the shares registered one year high at $136.98 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $114.04 and the 200 Day Moving Average price is recorded at $102.15.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Rose Marya M, officer (V.P. – CAO) of Cummins Inc, had unloaded 848 shares at an average price of $112.11 in a transaction dated on May 25, 2016. The total value of the transaction was worth $95,069.
Many analysts have stated their opinion on the company shares. In a research note released to the investors, Citigroup maintains its rating on Cummins (NYSE:CMI).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Citigroup raises the new price target from $100 per share to $115 per share. The rating by the firm was issued on May 13, 2016. Currently the company Insiders own 0.57% of Cummins shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -16.87% . Institutional Investors own 89.08% of Cummins shares. During last six month period, the net percent change held by insiders has seen a change of -16.68%.
Cummins Inc. is a global diesel engine manufacturer. The Company designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products, including filtration, after treatment, turbochargers, fuel systems, controls systems, air handling systems and electric power generation systems. It has four operating segments: Engine, Distribution, Components and Power Generation. The Company sells its products to original equipment manufacturers (OEMs), distributors and other customers. It serves its customers through a network of around 600 Company-owned and independent distributor locations and around 7,200 dealer locations in more than 190 countries. In addition, engines and engine components are manufactured by the Companys joint ventures or independent licensees at its manufacturing plants in the United States, China, India, South Korea, Mexico and Sweden. Its subsidiaries include Cummins India Ltd. and Wuxi Cummins Turbo Technologies Co. Ltd.