Artisan Partners Limited Partnership Sells 650,367 Shares of CAE Inc $CAE

Artisan Partners Limited Partnership trimmed its position in shares of CAE Inc (NYSE:CAE) (TSE:CAE) by 18.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,899,134 shares of the aerospace company’s stock after selling 650,367 shares during the quarter. Artisan Partners Limited Partnership owned 0.90% of CAE worth $85,828,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Brandes Investment Partners LP lifted its holdings in CAE by 4.4% during the second quarter. Brandes Investment Partners LP now owns 14,803,106 shares of the aerospace company’s stock worth $433,287,000 after acquiring an additional 628,848 shares in the last quarter. Vanguard Group Inc. raised its position in shares of CAE by 4.1% during the third quarter. Vanguard Group Inc. now owns 13,151,527 shares of the aerospace company’s stock worth $389,430,000 after purchasing an additional 518,030 shares during the period. Select Equity Group L.P. lifted its holdings in shares of CAE by 0.6% during the 2nd quarter. Select Equity Group L.P. now owns 7,909,738 shares of the aerospace company’s stock valued at $231,350,000 after purchasing an additional 45,754 shares in the last quarter. Norges Bank acquired a new position in shares of CAE in the 2nd quarter valued at approximately $118,239,000. Finally, Bank of Nova Scotia increased its stake in CAE by 23.4% during the 2nd quarter. Bank of Nova Scotia now owns 2,331,094 shares of the aerospace company’s stock worth $68,299,000 after purchasing an additional 442,467 shares in the last quarter. Institutional investors own 67.36% of the company’s stock.

CAE Trading Up 0.3%

Shares of CAE stock opened at $29.67 on Friday. The stock has a market cap of $9.55 billion, a P/E ratio of 35.75, a P/E/G ratio of 3.48 and a beta of 1.11. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.57. CAE Inc has a 12-month low of $20.36 and a 12-month high of $34.24. The business’s 50 day moving average is $31.60 and its 200-day moving average is $28.97.

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

Wall Street Analyst Weigh In

CAE has been the subject of several research analyst reports. Zacks Research upgraded shares of CAE from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Jefferies Financial Group reaffirmed a “hold” rating on shares of CAE in a research note on Sunday, February 15th. Royal Bank Of Canada lowered their target price on CAE from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, November 13th. Weiss Ratings lowered CAE from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, February 17th. Finally, TD Securities reaffirmed a “buy” rating on shares of CAE in a research report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, CAE presently has an average rating of “Moderate Buy” and a consensus target price of $34.33.

About CAE

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.