Royal Bank of Canada Decreases Stake in CAE Inc (CAE)
Royal Bank of Canada reduced its holdings in CAE Inc (NYSE:CAE) (TSE:CAE) by 10.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,877,652 shares of the aerospace company’s stock after selling 1,133,964 shares during the period. Royal Bank of Canada owned approximately 3.72% of CAE worth $170,290,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of CAE. Comerica Bank grew its stake in CAE by 1.3% during the 1st quarter. Comerica Bank now owns 15,399 shares of the aerospace company’s stock valued at $234,000 after acquiring an additional 203 shares in the last quarter. World Asset Management Inc raised its holdings in CAE by 0.3% in the 1st quarter. World Asset Management Inc now owns 16,679 shares of the aerospace company’s stock valued at $255,000 after acquiring an additional 49 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in CAE by 44.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 285,738 shares of the aerospace company’s stock valued at $4,369,000 after acquiring an additional 87,821 shares during the last quarter. State of Wisconsin Investment Board raised its holdings in CAE by 37.0% in the 1st quarter. State of Wisconsin Investment Board now owns 285,006 shares of the aerospace company’s stock valued at $4,342,000 after acquiring an additional 76,900 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in CAE in the 1st quarter valued at about $173,000. 53.42% of the stock is currently owned by hedge funds and other institutional investors.
CAE Inc (NYSE CAE) traded up 0.23% during trading on Monday, reaching $17.57. 127,930 shares of the company’s stock traded hands. CAE Inc has a 1-year low of $13.75 and a 1-year high of $17.88. The firm has a 50 day moving average of $16.54 and a 200 day moving average of $16.15. The firm has a market capitalization of $4.73 billion, a PE ratio of 23.24 and a beta of 0.87.
CAE (NYSE:CAE) (TSE:CAE) last announced its earnings results on Thursday, August 10th. The aerospace company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $699.00 million during the quarter, compared to analyst estimates of $699.76 million. CAE had a net margin of 8.96% and a return on equity of 13.24%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 EPS. Equities analysts forecast that CAE Inc will post $0.87 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.071 per share. This is a boost from CAE’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Thursday, September 14th. CAE’s dividend payout ratio (DPR) is currently 41.43%.
CAE has been the topic of several recent research reports. BMO Capital Markets upgraded CAE from a “market perform” rating to an “outperform” rating and set a $23.00 target price on the stock in a report on Wednesday, August 30th. They noted that the move was a valuation call. BidaskClub cut CAE from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Finally, Zacks Investment Research upgraded CAE from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective on the stock in a research report on Thursday, August 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $20.67.
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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