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NEW YORK ( TheStreet) -- Cummins (NYSE: CMI) hit a new 52-week high Thursday as it is currently trading at $124.73, above its previous 52-week high of $124.69 with 362,336 shares traded as of 10 a.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 41.2% year to date as of the close of trading on Wednesday. Cummins Inc. designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates in four segments: Engine, Components, Power Generation, and Distribution. The company has a P/E ratio of 13, above the average industrial industry P/E ratio of 12.5 and below the S&P 500 P/E ratio of 17.7.