CAE Inc. (NYSE:CAE) Shares Sold by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. cut its stake in CAE Inc. (NYSE:CAE) (TSE:CAE) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,913,829 shares of the aerospace company’s stock after selling 61,925 shares during the quarter. CAE makes up approximately 1.4% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 26th largest holding. Letko Brosseau & Associates Inc.’s holdings in CAE were worth $72,679,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CAE. National Bank of Canada FI lifted its position in shares of CAE by 36.4% in the second quarter. National Bank of Canada FI now owns 5,498,732 shares of the aerospace company’s stock valued at $101,559,000 after acquiring an additional 1,466,880 shares in the last quarter. CIBC Asset Management Inc boosted its stake in CAE by 3.5% during the 2nd quarter. CIBC Asset Management Inc now owns 771,963 shares of the aerospace company’s stock worth $14,329,000 after purchasing an additional 26,415 shares during the last quarter. Pembroke Management LTD purchased a new stake in shares of CAE during the second quarter worth $372,000. Hantz Financial Services Inc. acquired a new stake in shares of CAE in the second quarter valued at about $1,678,000. Finally, Signaturefd LLC lifted its stake in shares of CAE by 23.1% in the second quarter. Signaturefd LLC now owns 10,879 shares of the aerospace company’s stock worth $202,000 after buying an additional 2,039 shares in the last quarter. 67.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAE has been the subject of a number of recent research reports. Morgan Stanley downgraded shares of CAE from an “overweight” rating to an “equal weight” rating in a report on Friday, August 16th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of CAE in a report on Wednesday, May 22nd. Jefferies Financial Group started coverage on CAE in a research note on Thursday, June 6th. They set a “hold” rating and a $21.00 price objective on the stock. Canaccord Genuity Group lowered CAE from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Finally, Royal Bank of Canada raised shares of CAE from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.00.

CAE Trading Down 1.3 %

Shares of NYSE CAE traded down $0.24 during mid-day trading on Friday, reaching $17.60. 631,926 shares of the company’s stock were exchanged, compared to its average volume of 587,559. The company’s 50-day moving average is $17.91 and its 200-day moving average is $18.91. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.61 and a current ratio of 0.89. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of -24.44, a PEG ratio of 1.30 and a beta of 1.67. CAE Inc. has a 52-week low of $15.95 and a 52-week high of $25.04.

CAE (NYSE:CAE) (TSE:CAE) last posted its 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. CAE had a negative net margin of 7.38% and a positive return on equity of 5.96%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. CAE’s revenue for the quarter was up 6.0% compared to the same quarter last year. Analysts expect that CAE Inc. will post 0.86 EPS for the current fiscal year.

About CAE

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.