TCV Trust & Wealth Management 13F: Exits Cummins (CMI) Stake

TCV Trust & Wealth Management has sold its entire stake in Cummins Inc. (NYSE: CMI), exiting its position of 330 shares in a filing on October 16, 2026. The value of the shares was about $175,000 at the time of the sale.

What Changed in TCV Trust & Wealth Management's Cummins Position

TCV Trust & Wealth Management sold out of its position in Cummins, moving from 330 shares to zero. This reflects a 100% decrease in their stake.

Other Institutional Activity in Cummins

Blackrock Inc. reported a decrease in its holdings, cutting back 332,587 shares, leaving it with 11,503,261 shares valued at approximately $6.11 billion. Vanguard Capital Management LLC increased its position slightly, gaining 34,110 shares for a total of 9,010,359 shares worth about $4.79 billion. Vanguard Portfolio Management LLC also saw an increase, adding 36,741 shares to hold 7,534,991 shares valued at around $4.00 billion. State Street Corporation added 101,431 shares, bringing its total to 6,908,874 shares worth approximately $3.67 billion, while FMR, LLC increased its holdings by 657,397 shares for a total of 6,085,944 shares valued at about $3.23 billion.

Cummins Inc. Stock Down 0.2%

Cummins shares recently traded at around $531.87, which is below their 50-day moving average of about $559.92 and down 27.9% from the 52-week high of $737.76. The stock is currently above its 52-week low of $405.82 but remains below the mean price target of $721.14 set by analysts.

Recent Earnings

Cummins Inc. reported trailing twelve-month revenue of approximately $34.71 billion and earnings per share (EPS) of $19.57. The company has demonstrated solid revenue growth at 9.4% year-over-year, with a return on equity (ROE) of 21.1%. The next earnings report is scheduled for November 5, 2026.

Dividend

Cummins pays an annual dividend of $8.80 per share, yielding about 1.65%. The company operates with a payout ratio of 40.9%.

Insider Buying and Selling at Cummins Inc.

Recently, several insiders at Cummins sold shares. Officer Nathan R. Stoner sold 607 shares on May 11, 2026. Additionally, officers Jennifer Mary Bush and Donald G. Jackson sold 5,000 and 730 shares on May 12 and May 14, 2026, respectively. Chief Technology Officer Earl Newsome Jr. sold 698 shares on August 24, 2026.

Analysts Set New Price Targets

On September 23, 2026, JP Morgan maintained a 'Neutral' rating on Cummins with a price target of $600. UBS kept a 'Buy' rating but lowered its target to $741 on September 30, 2026. Truist Securities maintained a 'Buy' rating with a target of $779 on October 5, 2026. Wells Fargo also maintained an 'Overweight' rating with a target of $760 on October 8, 2026, while Citigroup reiterated its 'Buy' rating with a lower target of $630 on October 12, 2026. The consensus rating remains a 'Buy' with a mean target price of $721.14.

About Cummins

Cummins Inc. designs and manufactures power solutions globally. With a diverse range of products including diesel and natural gas engines, the company operates across several segments including Components and Power Systems. This position change by TCV Trust & Wealth Management highlights the shifting opinions on the stock amidst recent market fluctuations.

Bottom Line

TCV Trust & Wealth Management's complete exit from Cummins reflects a strategic shift and underscores the varying institutional strategies in the current market environment. Keep an eye on the upcoming earnings report on November 5, 2026, for further insights into the company's performance as it continues to adapt within the industrial sector. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.