CAE Inc. (NYSE:CAE) Position Reduced by Tobam

Tobam lowered its stake in CAE Inc. (NYSE:CAE) (TSE:CAE) by 74.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,176 shares of the aerospace company’s stock after selling 12,075 shares during the period. Tobam’s holdings in CAE were worth $78,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Massmutual Trust Co. FSB ADV grew its stake in CAE by 142.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,202 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 707 shares in the last quarter. Ridgewood Investments LLC bought a new position in CAE during the 2nd quarter worth approximately $33,000. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of CAE by 86.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,376 shares of the aerospace company’s stock worth $48,000 after acquiring an additional 1,100 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of CAE in the 1st quarter valued at approximately $77,000. Finally, UniSuper Management Pty Ltd lifted its stake in CAE by 104.5% during the first quarter. UniSuper Management Pty Ltd now owns 4,500 shares of the aerospace company’s stock worth $93,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 67.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CAE. Royal Bank of Canada raised shares of CAE from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 15th. Morgan Stanley lowered CAE from an “overweight” rating to an “equal weight” rating in a report on Friday, August 16th. Finally, StockNews.com lowered CAE from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $28.00.

CAE Stock Performance

CAE opened at $18.44 on Friday. CAE Inc. has a twelve month low of $15.95 and a twelve month high of $23.39. The stock has a market cap of $5.88 billion, a PE ratio of -25.60, a price-to-earnings-growth ratio of 1.33 and a beta of 1.67. The business’s 50 day moving average is $17.80 and its 200-day moving average is $18.68. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.67.

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