1832 Asset Management L.P. Trims Holdings in CAE Inc. (NYSE:CAE)

1832 Asset Management L.P. lowered its holdings in CAE Inc. (NYSE:CAE) (TSE:CAE) by 9.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,701,280 shares of the aerospace company’s stock after selling 180,314 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.53% of CAE worth $31,610,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. JARISLOWSKY FRASER Ltd increased its position in shares of CAE by 28.5% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 17,334,635 shares of the aerospace company’s stock valued at $375,982,000 after buying an additional 3,843,611 shares during the period. Norges Bank purchased a new position in shares of CAE during the 4th quarter worth approximately $74,413,000. National Bank of Canada FI grew its holdings in shares of CAE by 36.4% during the 2nd quarter. National Bank of Canada FI now owns 5,498,732 shares of the aerospace company’s stock worth $101,559,000 after acquiring an additional 1,466,880 shares during the period. American Century Companies Inc. lifted its stake in shares of CAE by 67.9% in the 2nd quarter. American Century Companies Inc. now owns 1,624,656 shares of the aerospace company’s stock valued at $30,176,000 after purchasing an additional 657,227 shares during the period. Finally, Clearbridge Investments LLC boosted its position in shares of CAE by 17.1% during the first quarter. Clearbridge Investments LLC now owns 3,710,044 shares of the aerospace company’s stock valued at $76,575,000 after purchasing an additional 541,066 shares in the last quarter. 67.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. StockNews.com upgraded CAE from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Morgan Stanley cut shares of CAE from an “overweight” rating to an “equal weight” rating in a research report on Friday, August 16th. 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 price objective on the stock. Finally, Royal Bank of Canada raised shares of CAE from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.00.

CAE Stock Performance

Shares of CAE stock opened at $17.99 on Tuesday. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of -24.98, a price-to-earnings-growth ratio of 1.31 and a beta of 1.67. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.61 and a current ratio of 0.89. CAE Inc. has a one year low of $15.95 and a one year high of $23.79. The company’s 50-day moving average is $17.72 and its 200 day moving average is $18.82.

CAE (NYSE:CAE) (TSE:CAE) last posted its quarterly earnings results on Tuesday, August 13th. The aerospace company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. CAE had a negative net margin of 7.38% and a positive return on equity of 5.96%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 earnings per share. Sell-side analysts expect that CAE Inc. will post 0.86 EPS for the current fiscal year.

CAE Company 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.