RSS FeedCummins Engine a Top Stock Pick CMI
Cummins Inc., up $2.89 at $84.81 Shares of the engine maker recently hit a 52-week high after a Goldman Sachs analyst named it a top stock pick because he expects strong sales growth.
Cummins, Inc., producers of powertrains for automotive, marine and farming applications – and virtually everything in between – has been awarded a $6,971,182 no-fee contract by the U.S. Department of Defense (DoD) to cover its cost of researching and developing efficient powertrain technologies for use in military applications. Under terms of the contract, the DoD has asked Cummins to:
Develop and demonstrate an electronically controlled, integrated power train, which improves overall efficiency of current power trains by reducing fuel consumption, providing exportable electrical power, reducing noise, and which is capable of operating on a wide range of fuels and fuel mixtures.
Government focus on engines’ fuel economy and higher emission standards will drive sales in Cummins’ components division by far more than analysts currently anticipate, Revich said — he forecasts $1 billion in new product sales in 2011-12.
Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins serves customers in approximately 190 countries and territories through a network of more than 500 company-owned and independent distributor locations and approximately 5,200 dealer locations. Cummins reported net income of $428 million on sales of $10.8 billion in 2009.
