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New York State's retirement fund cut holdings in CAE and Cummins, despite both companies' strong performance.
New York State's retirement fund reduced its holdings in aerospace company CAE Inc. by 15.6% and in engine manufacturer Cummins Inc. by 5.2%.
Despite these sales, institutional investors still own significant portions of both companies.
CAE reported earnings above analyst expectations, while Cummins surpassed expectations with $5.16 EPS and $8.45 billion in revenue, also announcing a $1.82 quarterly dividend.
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El fondo de pensiones del estado de Nueva York redujo las tenencias en CAE y Cummins, a pesar del fuerte desempeño de ambas compañías.