Hsbc Holdings PLC increased its stake in CAE Inc (NYSE:CAE) (TSE:CAE) by 8.6% during the third quarter, Holdings Channel reports. The institutional investor owned 26,310 shares of the company’s stock after buying an additional 2,081 shares during the period. Hsbc Holdings PLC’s holdings in CAE were worth $374,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Mondrian Investment Partners LTD raised its stake in CAE by 6.4% in the second quarter. Mondrian Investment Partners LTD now owns 16,284,223 shares of the company’s stock valued at $254,197,000 after buying an additional 981,915 shares in the last quarter. Korea Investment CORP raised its stake in CAE by 136.8% in the third quarter. Korea Investment CORP now owns 480,887 shares of the company’s stock valued at $6,817,000 after buying an additional 277,787 shares in the last quarter. Cidel Asset Management Inc. raised its stake in CAE by 0.7% in the second quarter. Cidel Asset Management Inc. now owns 3,219,160 shares of the company’s stock valued at $38,628,000 after buying an additional 21,110 shares in the last quarter. CGOV Asset Management bought a new stake in CAE during the third quarter valued at $151,995,000. Finally, Canada Pension Plan Investment Board raised its stake in CAE by 196.2% in the third quarter. Canada Pension Plan Investment Board now owns 551,510 shares of the company’s stock valued at $7,818,000 after buying an additional 365,300 shares in the last quarter. 58.75% of the stock is owned by institutional investors and hedge funds.
Shares of CAE Inc (NYSE:CAE) traded up 0.99% during mid-day trading on Friday, hitting $14.33. The company had a trading volume of 92,309 shares. CAE Inc has a one year low of $9.85 and a one year high of $14.89. The company has a market capitalization of $3.85 billion, a P/E ratio of 21.71 and a beta of 0.83. The firm’s 50-day moving average price is $14.11 and its 200 day moving average price is $14.13.
CAE (NYSE:CAE) last released its earnings results on Thursday, November 10th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. CAE had a net margin of 8.90% and a return on equity of 13.19%. The firm earned $635.50 million during the quarter, compared to analyst estimates of $494.02 million. During the same quarter in the previous year, the business earned $0.18 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts predict that CAE Inc will post $0.75 earnings per share for the current fiscal year.
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Several equities research analysts have recently weighed in on CAE shares. Zacks Investment Research lowered CAE from a “hold” rating to a “sell” rating in a research note on Tuesday, December 20th. Royal Bank Of Canada lowered CAE from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $19.00 to $20.00 in a research note on Friday, November 11th. CIBC lowered CAE from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, November 11th. Finally, RBC Capital Markets lowered CAE from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $19.00 to $20.00 in a report on Friday, November 11th. They noted that the move was a valuation call. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $18.44.
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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