Addenda Capital Inc. Lowers Stock Holdings in CAE Inc $CAE

Addenda Capital Inc. reduced its stake in CAE Inc (NYSE:CAE) (TSE:CAE) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 362,752 shares of the aerospace company’s stock after selling 34,938 shares during the quarter. Addenda Capital Inc. owned 0.11% of CAE worth $11,035,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of CAE by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 13,151,527 shares of the aerospace company’s stock valued at $389,430,000 after purchasing an additional 518,030 shares during the last quarter. Select Equity Group L.P. grew its stake in shares of CAE by 0.6% in 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 during the last quarter. Snyder Capital Management L P grew its stake in shares of CAE by 12.4% in the 3rd quarter. Snyder Capital Management L P now owns 5,411,103 shares of the aerospace company’s stock valued at $160,385,000 after purchasing an additional 598,086 shares during the last quarter. Bank of Montreal Can grew its stake in shares of CAE by 17.9% in the 3rd quarter. Bank of Montreal Can now owns 4,347,481 shares of the aerospace company’s stock valued at $128,706,000 after purchasing an additional 658,837 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of CAE by 10.7% in the 3rd quarter. Invesco Ltd. now owns 2,438,918 shares of the aerospace company’s stock valued at $72,290,000 after purchasing an additional 236,474 shares during the last quarter. 67.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CAE. Zacks Research upgraded CAE from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Scotiabank restated an “outperform” rating on shares of CAE in a research note on Tuesday, February 17th. Jefferies Financial Group restated a “hold” rating on shares of CAE in a research note on Sunday, February 15th. Stifel Nicolaus started coverage on CAE in a research note on Wednesday, March 4th. They issued a “buy” rating on the stock. Finally, Weiss Ratings downgraded CAE from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

CAE Stock Performance

Shares of CAE stock opened at $27.12 on Thursday. The stock has a fifty day moving average price of $28.91 and a 200 day moving average price of $29.07. The stock has a market cap of $8.73 billion, a PE ratio of 32.67, a P/E/G ratio of 2.90 and a beta of 1.13. CAE Inc has a 1 year low of $20.81 and a 1 year high of $34.24. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.69 and a current ratio of 0.91.

CAE (NYSE:CAE) (TSE:CAE) last issued its quarterly earnings data on Thursday, February 12th. The aerospace company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $911.78 million during the quarter, compared to analysts’ expectations of $922.62 million. CAE had a return on equity of 7.75% and a net margin of 7.70%.CAE’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 earnings per share. Sell-side analysts forecast that CAE Inc will post 0.83 earnings per share for the current fiscal year.

CAE Company Profile

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.