Wellington Management Group LLP Reduces Stake in CAE Inc. (NYSE:CAE)

Wellington Management Group LLP trimmed its position in shares of CAE Inc. (NYSE:CAE) (TSE:CAE) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 110,411 shares of the aerospace company’s stock after selling 3,614 shares during the quarter. Wellington Management Group LLP’s holdings in CAE were worth $2,802,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of CAE by 3.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,172,533 shares of the aerospace company’s stock worth $29,759,000 after buying an additional 42,325 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of CAE by 8.2% in the third quarter. Geode Capital Management LLC now owns 1,356,182 shares of the aerospace company’s stock valued at $25,218,000 after purchasing an additional 103,081 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CAE in the fourth quarter valued at approximately $4,746,000. Sanctuary Advisors LLC purchased a new position in shares of CAE during the 3rd quarter worth approximately $453,000. Finally, Norges Bank acquired a new position in shares of CAE during the 4th quarter worth approximately $98,436,000. Institutional investors and hedge funds own 67.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAE. Royal Bank of Canada reissued an “outperform” rating and set a $43.00 price target on shares of CAE in a research report on Wednesday, March 12th. Desjardins raised shares of CAE from a “hold” rating to a “buy” rating in a research note on Monday, December 23rd. The Goldman Sachs Group raised their price target on shares of CAE from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. National Bank Financial downgraded shares of CAE from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 22nd. Finally, StockNews.com upgraded shares of CAE from a “hold” rating to a “buy” rating in a research report on Saturday. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.00.

CAE Trading Up 2.0 %

NYSE CAE opened at $22.71 on Friday. The company has a market cap of $7.27 billion, a P/E ratio of -43.67, a P/E/G ratio of 1.94 and a beta of 1.39. CAE Inc. has a 12 month low of $15.95 and a 12 month high of $27.62. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.63. The company has a 50-day moving average of $24.20 and a 200-day moving average of $22.67.

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, topping analysts’ consensus estimates of $0.20 by $0.01. CAE had a negative net margin of 4.96% and a positive return on equity of 6.11%. As a group, equities analysts predict that CAE Inc. will post 0.83 earnings per share for the current 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, 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.