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

Letko Brosseau & Associates Inc. trimmed its position in Cae Inc (NYSE:CAE) (TSE:CAE) by 8.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,470,056 shares of the aerospace company’s stock after selling 213,750 shares during the period. Letko Brosseau & Associates Inc.’s holdings in CAE were worth $66,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of CAE. DekaBank Deutsche Girozentrale increased its stake in shares of CAE by 59.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 75,534 shares of the aerospace company’s stock valued at $2,006,000 after acquiring an additional 28,034 shares during the last quarter. Scott & Selber Inc. grew its holdings in shares of CAE by 4.8% during the 2nd quarter. Scott & Selber Inc. now owns 141,552 shares of the aerospace company’s stock worth $3,802,000 after purchasing an additional 6,439 shares during the period. Stevens Capital Management LP purchased a new stake in shares of CAE during the 2nd quarter worth about $631,000. Janus Henderson Group PLC grew its holdings in shares of CAE by 23.5% during the 2nd quarter. Janus Henderson Group PLC now owns 1,615,827 shares of the aerospace company’s stock worth $43,537,000 after purchasing an additional 306,975 shares during the period. Finally, Aperio Group LLC grew its holdings in shares of CAE by 0.8% during the 2nd quarter. Aperio Group LLC now owns 330,232 shares of the aerospace company’s stock worth $8,870,000 after purchasing an additional 2,485 shares during the period. Hedge funds and other institutional investors own 46.24% of the company’s stock.

CAE has been the subject of a number of research reports. CIBC reiterated a “hold” rating and set a $37.00 target price on shares of CAE in a report on Wednesday, May 22nd. National Bank Financial cut CAE from an “outperform” rating to a “sector perform” rating in a report on Friday, April 26th. Desjardins cut CAE from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. BMO Capital Markets cut CAE from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 21st. Finally, Zacks Investment Research cut CAE from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $32.50.

Shares of NYSE:CAE traded down $0.83 during trading on Thursday, reaching $24.88. 17,537 shares of the stock were exchanged, compared to its average volume of 148,165. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.83 and a current ratio of 1.12. Cae Inc has a 12-month low of $16.96 and a 12-month high of $28.03. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. The company has a 50-day moving average price of $27.10.

CAE (NYSE:CAE) (TSE:CAE) last issued its earnings results on Wednesday, August 14th. The aerospace company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). The firm had revenue of $825.60 million for the quarter, compared to analysts’ expectations of $849.39 million. CAE had a return on equity of 14.22% and a net margin of 9.98%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 EPS. On average, analysts expect that Cae Inc will post 1.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.083 dividend. This represents a $0.33 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Thursday, September 12th. This is a boost from CAE’s previous quarterly dividend of $0.07. CAE’s dividend payout ratio is currently 31.58%.

About CAE

CAE Inc, together with its subsidiaries, provides training solutions for the civil aviation, defence and security, and healthcare markets worldwide. The company's Civil Aviation Training Solutions segment provides training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; flight simulation training devices; and ab initio pilot training and crew sourcing services.

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Institutional Ownership by Quarter for CAE (NYSE:CAE)

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