Jarislowsky Fraser Ltd reduced its holdings in shares of CAE Inc. (NYSE:CAE – Get Rating) (TSE:CAE) by 12.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,343,033 shares of the aerospace company's stock after selling 1,835,134 shares during the period. CAE accounts for about 1.7% of Jarislowsky Fraser Ltd's investment portfolio, making the stock its 18th largest holding. Jarislowsky Fraser Ltd owned about 3.89% of CAE worth $321,558,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. UMB Bank N A MO purchased a new position in shares of CAE during the fourth quarter valued at approximately $25,000. Addison Advisors LLC purchased a new position in CAE during the first quarter valued at $35,000. Quadrant Capital Group LLC boosted its holdings in CAE by 40.9% in the first quarter. Quadrant Capital Group LLC now owns 3,387 shares of the aerospace company's stock worth $89,000 after acquiring an additional 983 shares in the last quarter. Signaturefd LLC grew its stake in shares of CAE by 16.7% in the first quarter. Signaturefd LLC now owns 3,848 shares of the aerospace company's stock worth $100,000 after acquiring an additional 552 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of CAE by 42.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,085 shares of the aerospace company's stock valued at $107,000 after acquiring an additional 1,223 shares in the last quarter. Institutional investors own 60.92% of the company's stock.
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CAE Stock Performance
CAE traded up $0.25 during mid-day trading on Friday, reaching $17.93. 4,549 shares of the company traded hands, compared to its average volume of 309,627. The stock has a market capitalization of $5.70 billion, a P/E ratio of 76.87, a P/E/G ratio of 1.58 and a beta of 1.47. CAE Inc. has a 52-week low of $17.41 and a 52-week high of $34.19. The company has a quick ratio of 0.79, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. The company's fifty day moving average price is $23.49 and its 200-day moving average price is $24.51.
CAE (NYSE:CAE – Get Rating) (TSE:CAE) last posted its quarterly earnings data on Wednesday, August 10th. The aerospace company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.16). The firm had revenue of $933.40 million for the quarter, compared to analysts' expectations of $936.30 million. CAE had a net
margin of 2.74% and a return on equity of 5.50%. The firm's revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 EPS. On average, sell-side analysts expect that CAE Inc. will post 0.71 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on CAE. Royal Bank of Canada dropped their price target on shares of CAE from $40.00 to $37.00 and set an "outperform" rating on the stock in a research note on Thursday, August 11th. Canaccord Genuity Group cut their price target on shares of CAE from C$36.00 to C$30.00 in a report on Monday, August 15th. TD Securities decreased their price objective on shares of CAE from C$41.00 to C$34.00 in a report on Thursday, August 11th. Scotiabank cut their target price on CAE from C$43.50 to C$37.50 in a research note on Thursday, August 11th. Finally, Bank of America upgraded CAE from an "underperform" rating to a "neutral" rating in a research note on Monday, June 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, CAE has a consensus rating of "Moderate Buy" and a consensus price target of $37.28.
About CAE
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CAE Inc, together with its subsidiaries, provides simulation training and critical operations support solutions worldwide. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare. The Civil Aviation segment provides training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; flight simulation training devices; and ab initio pilot training and crew sourcing services, as well as end to end digitally enabled crew management, training operations solutions, and optimization software.
Further Reading
- Get a free copy of the StockNews.com research report on CAE (CAE)
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