D. E. Shaw & Co. Inc. Reduces Position in CAE Inc. (NYSE:CAE)

D. E. Shaw & Co. Inc. cut its holdings in shares of CAE Inc. (NYSE:CAE) (TSE:CAE) by 79.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,395 shares of the aerospace company’s stock after selling 552,574 shares during the period. D. E. Shaw & Co. Inc.’s holdings in CAE were worth $3,614,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Addenda Capital Inc. boosted its position in CAE by 0.5% in the fourth quarter. Addenda Capital Inc. now owns 398,803 shares of the aerospace company’s stock worth $10,122,000 after purchasing an additional 2,110 shares during the last quarter. Hantz Financial Services Inc. boosted its position in CAE by 4.1% in the fourth quarter. Hantz Financial Services Inc. now owns 95,302 shares of the aerospace company’s stock worth $2,419,000 after purchasing an additional 3,741 shares during the last quarter. Stanley Laman Group Ltd. boosted its position in CAE by 3.2% in the fourth quarter. Stanley Laman Group Ltd. now owns 231,652 shares of the aerospace company’s stock worth $5,879,000 after purchasing an additional 7,260 shares during the last quarter. Asset Planning Inc purchased a new position in CAE in the fourth quarter worth about $30,000. Finally, Allworth Financial LP boosted its position in CAE by 14.2% in the fourth quarter. Allworth Financial LP now owns 7,321 shares of the aerospace company’s stock worth $177,000 after purchasing an additional 913 shares during the last quarter. 67.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CAE. National Bank Financial raised CAE from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. The Goldman Sachs Group raised their price objective on CAE from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Scotiabank raised CAE from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 price objective on shares of CAE in a research note on Wednesday, March 12th. Finally, StockNews.com raised CAE from a “hold” rating to a “buy” rating in a research note on Saturday, April 12th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

CAE Stock Down 0.9%

Shares of CAE opened at $25.42 on Monday. The business’s 50 day moving average is $24.23 and its 200 day moving average is $23.77. The company has a market capitalization of $8.14 billion, a PE ratio of -48.88, a price-to-earnings-growth ratio of 1.94 and a beta of 1.26. CAE Inc. has a 12-month low of $15.95 and a 12-month high of $27.62. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.70.

CAE (NYSE:CAE) (TSE:CAE) last issued its earnings results on Tuesday, May 13th. The aerospace company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $886.20 million for the quarter, compared to the consensus estimate of $1.30 billion. CAE had a positive return on equity of 6.11% and a negative net margin of 4.96%. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. Research analysts expect that CAE Inc. will post 0.83 earnings per share for the current fiscal year.

CAE Company 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.