Wells Fargo & Company MN Boosts Stake in CAE Inc. (NYSE:CAE)

Wells Fargo & Company MN raised its position in shares of CAE Inc. (NYSE:CAE) (TSE:CAE) by 0.3% during the fourth quarter, HoldingsChannel reports. The fund owned 421,242 shares of the aerospace company’s stock after acquiring an additional 1,224 shares during the quarter. Wells Fargo & Company MN’s holdings in CAE were worth $10,682,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in CAE by 31.2% during the fourth quarter. Geode Capital Management LLC now owns 1,779,962 shares of the aerospace company’s stock worth $44,941,000 after buying an additional 423,780 shares during the period. Orion Portfolio Solutions LLC acquired a new position in shares of CAE during the 4th quarter worth about $225,000. Pictet Asset Management Holding SA raised its position in shares of CAE by 9.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 165,251 shares of the aerospace company’s stock valued at $4,194,000 after buying an additional 14,699 shares during the last quarter. Norges Bank purchased a new stake in CAE in the 4th quarter valued at $98,436,000. Finally, UniSuper Management Pty Ltd purchased a new stake in CAE in the fourth quarter valued at $147,000. Hedge funds and other institutional investors own 67.36% of the company’s stock.

CAE Stock Performance

Shares of CAE opened at $23.41 on Thursday. The stock has a market capitalization of $7.50 billion, a PE ratio of -45.02, a price-to-earnings-growth ratio of 1.94 and a beta of 1.39. The business’s fifty day moving average price is $24.17 and its 200 day moving average price is $22.74. 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.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CAE. The Goldman Sachs Group upped their target price 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 cut CAE from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 22nd. Desjardins raised CAE from a “hold” rating to a “buy” rating in a research note on Monday, December 23rd. Bank of America upgraded CAE from an “underperform” rating to a “neutral” rating in a report on Friday, March 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $43.00 target price on shares of CAE in a research report on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, CAE presently has an average rating of “Hold” and a consensus 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.