Cummins' (NYSE:CMI) Solid Quarter Brings Yawns from Investors

Cummins (NYSE:CMI) is apparently a victim of their own success, as their latest quarterly earnings, which would have been solid for most companies, didn't do much for investors who have recently been used to blowout results.

That's not to say the 34 percent increase in earnings isn't significant, just that when the last four quarters were between 138 percent to 317 percent, the smaller number looks rather paltry in investors' view.

Concerning a drop in sales for the fourth quarter, Cummins said it was from weaker truck engine sales in the North American market.

Other segments that did do well were distribution and engine components, which hit new records for the company.

Guidance was good from the company, which said 2011 sales would reach $16 billion, an increase of 21 percent.

Cummins closed Tuesday at $107.41, gaining $1.53, or 1.45 percent.