Letko Brosseau & Associates Inc. Sells 61,925 Shares of CAE Inc. (NYSE:CAE)

Letko Brosseau & Associates Inc. lowered its position in shares of CAE Inc. (NYSE:CAE) (TSE:CAE) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,913,829 shares of the aerospace company’s stock after selling 61,925 shares during the period. CAE comprises approximately 1.4% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 26th largest holding. Letko Brosseau & Associates Inc. owned about 1.23% of CAE worth $72,679,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its position in CAE by 142.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,202 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 707 shares during the period. Ridgewood Investments LLC bought a new position in CAE in the second quarter worth approximately $33,000. Hillsdale Investment Management Inc. lifted its holdings in CAE by 45.5% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,600 shares of the aerospace company’s stock worth $35,000 after buying an additional 500 shares during the period. Spire Wealth Management boosted its position in CAE by 52.8% during the 1st quarter. Spire Wealth Management now owns 2,018 shares of the aerospace company’s stock valued at $42,000 after acquiring an additional 697 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in CAE by 86.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,376 shares of the aerospace company’s stock valued at $48,000 after acquiring an additional 1,100 shares in the last quarter. 67.36% of the stock is currently owned by institutional investors.

CAE Stock Performance

CAE stock traded down $0.24 during mid-day trading on Friday, hitting $17.60. The company had a trading volume of 631,926 shares, compared to its average volume of 587,559. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of -24.44, a P/E/G ratio of 1.30 and a beta of 1.67. CAE Inc. has a 12-month low of $15.95 and a 12-month high of $25.04. The company’s fifty day moving average is $17.91 and its 200-day moving average is $18.91. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.67.

CAE (NYSE:CAE) (TSE:CAE) last issued its quarterly earnings data on Tuesday, August 13th. The aerospace company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. CAE had a positive return on equity of 5.96% and a negative net margin of 7.38%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company earned $0.18 earnings per share. CAE’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts predict that CAE Inc. will post 0.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CAE. Royal Bank of Canada upgraded CAE from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 15th. Jefferies Financial Group initiated coverage on shares of CAE in a report on Thursday, June 6th. They issued a “hold” rating and a $21.00 price target on the stock. Morgan Stanley lowered shares of CAE from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 16th. Canaccord Genuity Group downgraded shares of CAE from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Finally, Canaccord Genuity Group reaffirmed a “hold” rating on shares of CAE in a research report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.00.

About CAE

CAE Inc, together with its subsidiaries, provides simulation training and critical operations support solutions in Canada, the United States, the United Kingdom, Europe, Asia, Oceania and Africa, and Rest of Americas. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare.