Stock price when the opinion was issued
They reported a blow-out quarter, sending shares 9% higher. They beat revenues in 4 of their 5 largest divisions, boasted expanded marginsThey are part of the transition to nuclear energy, even though it will likely get less support under Trump, at a pace that will match customer needs. Also, he likes their power systems business (generators, commercial power systems for buildings), timely during the data centre boom. Caveat: While only 9% of their sales come from China, those could be hit by Trump tariffs.
A great industrial company that yields almost 3%, but industrials are selling off now because of higher interest rates. Cummins will come back, but it will take time, because a slowdown is hurting the industrials more than any sector.