NEW YORK ( TheStreet) -- Cummins (NYSE: CMI) hit a new 52-week high Thursday as it is currently trading at $121.50, above its previous 52-week high of $121.49 with two million shares traded as of 2:20 p.m. ET. Average volume has been 2.6 million shares over the past 30 days. Cummins has a market cap of $20.6 billion and is part of the industrial goods sector and industrial industry. Shares are up 35.9% year to date as of the close of trading on Wednesday. Cummins Inc. designs, manufactures, distributes, and services diesel and natural gas engines, electric power generation systems, and engine-related component products worldwide. It operates in four segments: Engine, Power Generation, Components, and Distribution. The company has a P/E ratio of 12.5, equal to the average industrial industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Cummins as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Cummins Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.