CAE Inc $CAE Shares Sold by Korea Investment CORP

Korea Investment CORP reduced its position in CAE Inc (NYSE:CAE) (TSE:CAE) by 11.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 373,626 shares of the aerospace company’s stock after selling 46,765 shares during the quarter. Korea Investment CORP owned about 0.12% of CAE worth $11,066,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CAE. Employees Retirement System of Texas acquired a new position in shares of CAE in the 2nd quarter valued at $80,000. Bessemer Group Inc. grew its position in CAE by 26.0% during the 3rd quarter. Bessemer Group Inc. now owns 5,547 shares of the aerospace company’s stock worth $164,000 after purchasing an additional 1,145 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new position in CAE in the second quarter valued at $236,000. PNC Financial Services Group Inc. raised its holdings in shares of CAE by 11.1% in the second quarter. PNC Financial Services Group Inc. now owns 8,510 shares of the aerospace company’s stock valued at $249,000 after buying an additional 851 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of CAE in the second quarter valued at about $265,000. 67.36% of the stock is currently owned by hedge funds and other institutional investors.

CAE Stock Down 0.2%

Shares of NYSE:CAE opened at $28.44 on Thursday. CAE Inc has a fifty-two week low of $20.36 and a fifty-two week high of $34.24. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $31.34 and its 200-day simple moving average is $29.08. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 3.36 and a beta of 1.11.

CAE (NYSE:CAE) (TSE:CAE) last posted its quarterly earnings results on Thursday, February 12th. The aerospace company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $911.78 million during the quarter, compared to analysts’ expectations of $922.62 million. CAE had a net margin of 7.70% and a return on equity of 7.75%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. As a group, equities research analysts predict that CAE Inc will post 0.83 earnings per share for the current year.

Analyst Ratings Changes

CAE has been the topic of a number of research reports. Jefferies Financial Group reissued a “hold” rating on shares of CAE in a report on Sunday, February 15th. Scotiabank reaffirmed an “outperform” rating on shares of CAE in a research note on Tuesday, February 17th. TD Securities reaffirmed a “buy” rating on shares of CAE in a research report on Tuesday, February 17th. Stifel Nicolaus assumed coverage on CAE in a research note on Wednesday, March 4th. They issued a “buy” rating on the stock. Finally, Royal Bank Of Canada dropped their target price on CAE from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, CAE presently has an average rating of “Moderate Buy” and a consensus price target of $34.33.

CAE Profile

CAE Inc is a global leader in training and simulation technologies, headquartered in Montréal, Canada. The company specializes in the design and manufacture of high-fidelity flight simulators and training systems for civil aviation, defense and security, and healthcare markets. Leveraging advanced software and hardware integration, CAE delivers comprehensive training solutions that address pilot proficiency, mission readiness and patient safety across a wide range of platforms.

In civil aviation, CAE partners with major airlines, aircraft manufacturers and flight schools to provide pilot training services, courseware development and crew scheduling solutions.