Shares of Cummins Inc. (NYSE:CMI) traded today at $268.29, eclipsing its 52-week high. Approximately 305,000 shares have changed hands today, as compared to an average 30-day volume of 1.1 million shares.
In the past 52 weeks, shares of Cummins Inc. have traded between a low of $101.03 and a high of $268.29 and is now at $260.99, which is 158% above that low price.
Cummins is a leading manufacturer of diesel engines used in commercial trucks, off-highway equipment, and railroad locomotives, along with diesel-powered electric generators. The firm’s revenue historically has been tied to the class 8 truck market, where, as the industry leader, it currently supplies 35% of engines. Cummins is in the unique position of competing with its primary customers, heavy-duty truck manufacturers who make and aggressively market their own engines. Despite robust competition across all its segments and ever-increasing government regulation of diesel emissions in the past three decades, Cummins has been able to grow its revenue to over $19 billion in 2020. Cummins is headquartered in Columbus, Indiana, where it was founded in 1919.
Cummins Inc. has overhead space with shares priced $260.99, or 0.6% below the average consensus analyst price target of $262.58.
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