Wellington Management Group LLP Lowers Stake in CAE Inc. (NYSE:CAE)

Wellington Management Group LLP lessened its holdings in CAE Inc. (NYSE:CAE) (TSE:CAE) by 17.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 107,861 shares of the aerospace company’s stock after selling 22,493 shares during the quarter. Wellington Management Group LLP’s holdings in CAE were worth $2,339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hillsdale Investment Management Inc. grew its stake in shares of CAE by 45.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,600 shares of the aerospace company’s stock worth $35,000 after buying an additional 500 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of CAE by 2.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 31,621 shares of the aerospace company’s stock worth $678,000 after acquiring an additional 790 shares during the last quarter. Pacifica Partners Inc. increased its holdings in shares of CAE by 24.6% during the fourth quarter. Pacifica Partners Inc. now owns 4,013 shares of the aerospace company’s stock valued at $81,000 after acquiring an additional 793 shares in the last quarter. Metis Global Partners LLC raised its position in shares of CAE by 5.8% in the 4th quarter. Metis Global Partners LLC now owns 17,114 shares of the aerospace company’s stock worth $369,000 after purchasing an additional 941 shares during the last quarter. Finally, Addenda Capital Inc. boosted its stake in CAE by 0.3% in the 4th quarter. Addenda Capital Inc. now owns 328,565 shares of the aerospace company’s stock worth $7,094,000 after purchasing an additional 1,041 shares in the last quarter. Institutional investors own 67.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CAE shares. Jefferies Financial Group began coverage on shares of CAE in a report on Thursday, June 6th. They issued a “hold” rating and a $21.00 target price for the company. Canaccord Genuity Group reaffirmed a “hold” rating on shares of CAE in a research report on Wednesday, May 22nd. The Goldman Sachs Group boosted their price target on CAE from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. StockNews.com cut CAE from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Finally, Desjardins lowered CAE from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, CAE has a consensus rating of “Hold” and an average target price of $32.00.

CAE Price Performance

NYSE CAE opened at $18.58 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.85 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $5.92 billion, a P/E ratio of -25.81, a PEG ratio of 1.32 and a beta of 1.66. The company has a 50-day moving average price of $19.30 and a 200-day moving average price of $19.86. CAE Inc. has a 52 week low of $17.40 and a 52 week high of $25.04.

CAE (NYSE:CAE) (TSE:CAE) last released its quarterly earnings results on Monday, May 27th. The aerospace company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.16). CAE had a positive return on equity of 6.10% and a negative net margin of 6.97%. The business had revenue of $835.47 million during the quarter, compared to the consensus estimate of $863.18 million. During the same quarter in the previous year, the business posted $0.26 earnings per share. Equities research analysts anticipate that CAE Inc. will post 0.89 earnings per share for the current year.

CAE Profile

CAE Inc, together with its subsidiaries, provides simulation training and critical operations support solutions in Canada, the United States, the United Kingdom, Europe, Asia, Oceania and Africa, and Rest of Americas. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare.