Letko Brosseau & Associates Inc. Lowers Stake in CAE Inc (NYSE:CAE)

Letko Brosseau & Associates Inc. reduced its holdings in shares of CAE Inc (NYSE:CAE) (TSE:CAE) by 16.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,384,874 shares of the aerospace company’s stock after selling 690,605 shares during the period. CAE makes up 1.8% of Letko Brosseau & Associates Inc.’s investment portfolio, making the stock its 20th largest holding. Letko Brosseau & Associates Inc.’s holdings in CAE were worth $83,208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Natixis purchased a new stake in shares of CAE in the fourth quarter valued at about $38,000. Versant Capital Management Inc purchased a new stake in shares of CAE in the first quarter valued at about $53,000. UniSuper Management Pty Ltd purchased a new stake in shares of CAE in the fourth quarter valued at about $147,000. First Trust Advisors LP purchased a new stake in shares of CAE in the fourth quarter valued at about $213,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in shares of CAE in the fourth quarter valued at about $225,000. 67.36% of the stock is owned by hedge funds and other institutional investors.

CAE Stock Performance

Shares of CAE opened at $28.54 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.58 and a debt-to-equity ratio of 0.62. The stock has a market cap of $9.15 billion, a P/E ratio of 31.71, a PEG ratio of 2.34 and a beta of 1.30. The company has a 50-day moving average of $27.51 and a two-hundred day moving average of $25.43. CAE Inc has a 12-month low of $15.95 and a 12-month high of $30.13.

CAE (NYSE:CAE) (TSE:CAE) last announced its earnings results on Tuesday, May 13th. The aerospace company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $886.20 million during the quarter, compared to analysts’ expectations of $1.30 billion. CAE had a net margin of 8.55% and a return on equity of 8.17%. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 earnings per share. As a group, research analysts predict that CAE Inc will post 0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CAE. CIBC reiterated a “neutral” rating on shares of CAE in a research note on Thursday, May 15th. Scotiabank upgraded shares of CAE from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 15th. BMO Capital Markets reiterated an “outperform” rating on shares of CAE in a research note on Wednesday, May 14th. National Bank Financial upgraded shares of CAE from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, Cibc World Mkts upgraded shares of CAE from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CAE currently has an average rating of “Moderate Buy” and an average price target of $33.67.

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.