CAE Inc (NYSE:CAE) Stake Lessened by Citigroup Inc.

Citigroup Inc. lessened its stake in CAE Inc (NYSE:CAE) (TSE:CAE) by 26.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,581 shares of the aerospace company’s stock after selling 20,195 shares during the period. Citigroup Inc.’s holdings in CAE were worth $991,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. TD Asset Management Inc. raised its stake in shares of CAE by 6.0% during the second quarter. TD Asset Management Inc. now owns 6,597,892 shares of the aerospace company’s stock valued at $113,597,000 after purchasing an additional 376,314 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CAE by 7.0% during the first quarter. Vanguard Group Inc. now owns 5,634,957 shares of the aerospace company’s stock valued at $86,159,000 after purchasing an additional 367,181 shares in the last quarter. FMR LLC raised its stake in shares of CAE by 2.4% during the first quarter. FMR LLC now owns 3,692,900 shares of the aerospace company’s stock valued at $56,427,000 after purchasing an additional 87,670 shares in the last quarter. Bank of Montreal Can raised its stake in shares of CAE by 4.1% during the second quarter. Bank of Montreal Can now owns 3,595,951 shares of the aerospace company’s stock valued at $61,994,000 after purchasing an additional 140,985 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of CAE by 12.0% during the first quarter. Morgan Stanley now owns 3,415,109 shares of the aerospace company’s stock valued at $52,217,000 after purchasing an additional 366,337 shares in the last quarter. 53.15% of the stock is owned by hedge funds and other institutional investors.

Shares of CAE Inc (CAE) opened at 17.79 on Monday. The firm’s 50-day moving average price is $16.86 and its 200 day moving average price is $16.46. The firm has a market cap of $4.79 billion, a P/E ratio of 23.53 and a beta of 0.87. CAE Inc has a 12-month low of $13.75 and a 12-month high of $17.88.

CAE (NYSE:CAE) (TSE:CAE) last posted its quarterly earnings results on Thursday, August 10th. The aerospace company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). CAE had a return on equity of 13.24% and a net margin of 8.96%. The firm had revenue of $699.00 million for the quarter, compared to analyst estimates of $699.76 million. During the same period last year, the company posted $0.26 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts expect that CAE Inc will post $0.86 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a dividend of $0.071 per share. This is an increase from CAE’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Thursday, September 14th. CAE’s dividend payout ratio is 41.43%.

A number of brokerages recently weighed in on CAE. BidaskClub cut shares of CAE from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded shares of CAE from a “hold” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a research report on Thursday, August 31st. Finally, BMO Capital Markets upgraded shares of CAE from a “market perform” rating to an “outperform” rating and set a $23.00 price target on the stock in a research report on Wednesday, August 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. CAE has a consensus rating of “Hold” and an average target price of $20.67.

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About CAE

CAE Inc provides training for the civil aviation, defense and security, and healthcare markets. The Company designs and integrates training solutions. It operates through three segments: Civil Aviation Training Solutions, Defense and Security, and Healthcare. The Company provides training solutions for flight, cabin, maintenance and ground personnel in commercial, business and helicopter aviation, a range of flight simulation training devices, as well as ab initio pilot training and crew sourcing services.

Institutional Ownership by Quarter for CAE (NYSE:CAE)

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