Citigroup Inc. Has $991,000 Position in CAE Inc (CAE)
Citigroup Inc. trimmed its position in CAE Inc (NYSE:CAE) (TSE:CAE) by 26.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,581 shares of the aerospace company’s stock after selling 20,195 shares during the quarter. Citigroup Inc.’s holdings in CAE were worth $991,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in CAE. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in CAE by 0.7% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,557 shares of the aerospace company’s stock worth $130,000 after acquiring an additional 57 shares in the last quarter. Trexquant Investment LP purchased a new stake in CAE in the 1st quarter worth approximately $173,000. US Bancorp DE increased its holdings in CAE by 38.1% in the 2nd quarter. US Bancorp DE now owns 12,012 shares of the aerospace company’s stock worth $207,000 after acquiring an additional 3,311 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in CAE in the 2nd quarter worth approximately $225,000. Finally, Greenleaf Trust purchased a new stake in CAE in the 2nd quarter worth approximately $231,000. 53.42% of the stock is owned by institutional investors.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded CAE from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a research note on Thursday, August 31st. BMO Capital Markets upgraded CAE from a “market perform” rating to an “outperform” rating and set a $23.00 price target for the company in a research note on Wednesday, August 30th. They noted that the move was a valuation call. Finally, BidaskClub downgraded CAE from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $20.67.
CAE Inc (NYSE CAE) opened at 17.21 on Friday. The company has a market capitalization of $4.63 billion, a P/E ratio of 22.76 and a beta of 0.87. The firm has a 50-day moving average price of $16.67 and a 200 day moving average price of $16.35. CAE Inc has a 1-year low of $13.75 and a 1-year high of $17.88.
CAE (NYSE:CAE) (TSE:CAE) last posted its quarterly earnings data on Thursday, August 10th. The aerospace company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The business had revenue of $699.00 million during the quarter, compared to analysts’ expectations of $699.76 million. CAE had a net margin of 8.96% and a return on equity of 13.24%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 earnings per share. On average, equities analysts predict that CAE Inc will post $0.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.071 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This is a boost from CAE’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.65%. CAE’s payout ratio is 41.43%.
CAE Company Profile
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.
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