3,881,602 Shares in CAE Inc. (NYSE:CAE) Purchased by Norges Bank

Norges Bank bought a new stake in shares of CAE Inc. (NYSE:CAE) (TSE:CAE) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,881,602 shares of the aerospace company’s stock, valued at approximately $98,436,000. Norges Bank owned 1.21% of CAE at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. UniSuper Management Pty Ltd bought a new position in CAE during the 4th quarter valued at $147,000. JPMorgan Chase & Co. lifted its holdings in shares of CAE by 3.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,172,533 shares of the aerospace company’s stock valued at $29,759,000 after buying an additional 42,325 shares during the period. Korea Investment CORP boosted its stake in CAE by 71.7% during the fourth quarter. Korea Investment CORP now owns 192,562 shares of the aerospace company’s stock valued at $4,887,000 after buying an additional 80,400 shares in the last quarter. Mufg Securities Canada LTD. grew its holdings in CAE by 72.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 486,839 shares of the aerospace company’s stock worth $12,354,000 after acquiring an additional 203,924 shares during the period. Finally, United Services Automobile Association bought a new stake in CAE in the fourth quarter worth about $263,000. Institutional investors and hedge funds own 67.36% of the company’s stock.

CAE Trading Up 0.1 %

NYSE CAE opened at $24.61 on Wednesday. The firm’s 50 day moving average price is $24.51 and its two-hundred day moving average price is $22.42. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of -47.32, a PEG ratio of 1.94 and a beta of 1.74. CAE Inc. has a twelve month low of $15.95 and a twelve month high of $27.62. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.63 and a current ratio of 0.86.

CAE (NYSE:CAE) (TSE:CAE) last posted its quarterly earnings results on Thursday, February 13th. The aerospace company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. CAE had a positive return on equity of 6.11% and a negative net margin of 4.96%. Equities analysts anticipate that CAE Inc. will post 0.83 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAE. Royal Bank of Canada restated an “outperform” rating and set a $43.00 price objective on shares of CAE in a research report on Wednesday, March 12th. Desjardins upgraded shares of CAE from a “hold” rating to a “buy” rating in a research report on Monday, December 23rd. StockNews.com upgraded CAE from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Cibc World Mkts cut CAE from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their target price on CAE from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $32.00.

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, the Oceania, Africa, and Rest of the Americas. It operates through two segments, Civil Aviation; and Defense and Security. The Civil Aviation segment offers training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; a range of flight simulation training devices; and ab initio pilot training and crew sourcing services, as well as aircraft flight operations solutions.