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<p class=MsoNormal align=center style='text-align:center'><b>UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
WASHINGTON,  DC&nbsp;  20549</b></p>

<p class=MsoNormal align=center style='text-align:center'><b>FORM 8-K</b></p>

<p class=MsoNormal align=center style='text-align:center'><b>&nbsp;</b></p>

<p class=MsoNormal align=center style='text-align:center'><b>CURRENT REPORT</b></p>

<p class=MsoNormal align=center style='text-align:center'><b>&nbsp;</b></p>

<p class=MsoNormal align=center style='text-align:center'>PURSUANT TO SECTION
13 OR 15(d) OF THE<br>
&nbsp;SECURITIES EXCHANGE ACT OF 1934</p>

<p class=MsoNormal align=center style='text-align:center'><b>Date of
Report:&nbsp;  April 8, 2004</b></p>

<p class=MsoNormal align=center style='text-align:center'><b>&nbsp;&nbsp;<u>CUMMINS
INC.<br>
</u></b>(Exact name of registrant as specified in its charter)</p>

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  <p class=MsoNormal align=center style='text-align:center'><b>Indiana<br>
  </b>(State or other Jurisdiction of<br>
  Incorporation)</p>
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  <td width=231 valign=top style='width:172.9pt;padding:0in 0in 0in 0in'>
  <p class=MsoNormal align=center style='text-align:center'><b>1-4949<br>
  </b>(Commission File Number)</p>
  </td>
  <td width=245 valign=top style='width:183.4pt;padding:0in 0in 0in 0in'>
  <p class=MsoNormal align=center style='text-align:center'><b>35-0257090<br>
  </b>(I.R.S. Employer Identification<br>
  &nbsp;No.)</p>
  </td>
 </tr>
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<p class=MsoNormal align=center style='text-align:center'><b>500 Jackson Street<br>
  P. O. Box 3005<br>
 Columbus,  IN&nbsp;  47202-3005<br>
(Principal Executive Office)&nbsp; (Zip Code)</b></p>

<p class=MsoNormal align=center style='text-align:center'>Registrant's
telephone number, including area code:&nbsp; (<b>812) 377-5000</b></p>









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<p class=MsoNormal align=center style='text-align:center'>&nbsp;</p>









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<p>Page 2</p>

<p><b>Item 5.&nbsp; Other Events</b></p>

<p class=MsoNormal>A number of the Company's executive officers have exercised
stock
options on a cashless basis, and may continue to exercise options, pursuant to
written trading plans qualifying under SEC Rule 10b5-1 as pre-determined market
prices of the Company's Common Stock are attained.&nbsp; While certain of these
prices have already been attained, automatic exercises of specified numbers of
options at higher market prices established by the officers remain to be
triggered under the plans.&nbsp; These plans were entered into in good faith at
times when the officers were not in possession of material, nonpublic
information regarding the Company.</p>



<p class=MsoNormal>When properly structured and operated in accordance with the
Rule, such plans provide the officers with an opportunity to diversify their
beneficial ownership of Common Stock&nbsp; in a systematic manner at any time
without violating the Company's insider trading policy or SEC insider trading rules.&nbsp;
These executive officers will continue to comply with the Company's formal
stock ownership guidelines requiring that they own shares of Common Stock in
multiples of their base salaries.&nbsp;&nbsp; </p>

<p class=MsoNormal><b>Item 12.&nbsp; Results of Operations and Financial Condition</b></p>

<p class=MsoNormal>On April 6, 2004, Cummins Inc issued a press release
announcing a change in first quarter and full year 2004 earnings estimates, a
copy of which is attached as Exhibit 99.1.</p>

<p class=MsoNormal>The information in this Current Report, including the
attached Exhibit, shall not be deemed &quot;filed&quot; for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, nor shall it be deemed
incorporated by reference into any filing under the Securities Act of 1933,
except as shall be expressly set forth by specific reference in such filing. </p>

<p class=MsoNormal align=center style='text-align:center'><b>&nbsp;SIGNATURE</b></p>

<p class=MsoNormal>Pursuant to the requirements of the Securities Exchange act
of 1934, as amended, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.</p>

<p class=MsoNormal>Date:&nbsp;&nbsp;April 8, 2004</p>

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  <td valign=top style='width:388;padding:0in; '>
  <p class=MsoNormal>Cummins Inc.</p>
  </td>
  <td valign=top style='width:107;padding:0in; '>

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  <td valign=top style='width:323;padding:0in; '>
  <p class=MsoNormal><b>&nbsp;</b></p>
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  <p class=MsoNormal><b>&nbsp;</b></p>

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  <p class=MsoNormal style='border:none;padding:0in'>By:&nbsp;/s/ Susan
  K.Carter</p>
  </div>
  <p class=MsoNormal>Susan K. Carter<br>
  Vice President - Finance<br>
  and Chief Accounting Officer</p>
  </td>
  <td style='padding:0in 0in 0in 0in' width="107">

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{"company-data": {"conformed-name": "CUMMINS INC", "cik": "0000026172", "assigned-sic": "3510", "irs-number": "350257090", "state-of-incorporation": "IN", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-04949", "film-number": "04724170"}, "business-address": {"street1": "500 JACKSON ST", "street2": "BOX 3005 MAIL CODE 60207", "city": "COLUMBUS", "state": "IN", "zip": "47202-3005", "phone": "8123773259"}, "mail-address": {"street1": "BOX 3005 MAIL CODE 60207", "street2": "500", "city": "COLUMBUS", "state": "IN", "zip": "47202-3005"}, "former-company": {"former-conformed-name": "CUMMINS ENGINE CO INC", "date-changed": "19920703"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON,  DC   20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION
13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of
Report:   April 8, 2004
CUMMINS
INC.
(Exact name of registrant as specified in its charter)
Indiana
(State or other Jurisdiction of
Incorporation)
1-4949
(Commission File Number)
35-0257090
(I.R.S. Employer Identification
No.)
500 Jackson Street
P. O. Box 3005
Columbus,  IN   47202-3005
(Principal Executive Office)  (Zip Code)
Registrant's
telephone number, including area code:  (
812) 377-5000
Page 2
Item 5.  Other Events
A number of the Company's executive officers have exercised
stock
options on a cashless basis, and may continue to exercise options, pursuant to
written trading plans qualifying under SEC Rule 10b5-1 as pre-determined market
prices of the Company's Common Stock are attained.  While certain of these
prices have already been attained, automatic exercises of specified numbers of
options at higher market prices established by the officers remain to be
triggered under the plans.  These plans were entered into in good faith at
times when the officers were not in possession of material, nonpublic
information regarding the Company.
When properly structured and operated in accordance with the
Rule, such plans provide the officers with an opportunity to diversify their
beneficial ownership of Common Stock  in a systematic manner at any time
without violating the Company's insider trading policy or SEC insider trading rules. 
These executive officers will continue to comply with the Company's formal
stock ownership guidelines requiring that they own shares of Common Stock in
multiples of their base salaries.
Item 12.  Results of Operations and Financial Condition
On April 6, 2004, Cummins Inc issued a press release
announcing a change in first quarter and full year 2004 earnings estimates, a
copy of which is attached as Exhibit 99.1.
The information in this Current Report, including the
attached Exhibit, shall not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, nor shall it be deemed
incorporated by reference into any filing under the Securities Act of 1933,
except as shall be expressly set forth by specific reference in such filing.
SIGNATURE
Pursuant to the requirements of the Securities Exchange act
of 1934, as amended, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
Date:  April 8, 2004
Cummins Inc.
By: /s/ Susan
  K.Carter
Susan K. Carter
Vice President - Finance
and Chief Accounting Officer