Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Position in CAE Inc. (NYSE:CAE)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of CAE Inc. (NYSE:CAE) (TSE:CAE) by 4.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,412 shares of the aerospace company’s stock after selling 2,567 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CAE were worth $1,029,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. JARISLOWSKY FRASER Ltd lifted its stake in shares of CAE by 28.5% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 17,334,635 shares of the aerospace company’s stock worth $375,982,000 after acquiring an additional 3,843,611 shares during the period. Norges Bank purchased a new position in CAE during the fourth quarter worth about $74,413,000. AGF Management Ltd. lifted its position in CAE by 174.1% in the fourth quarter. AGF Management Ltd. now owns 1,188,038 shares of the aerospace company’s stock valued at $26,348,000 after purchasing an additional 754,648 shares during the period. Clearbridge Investments LLC boosted its holdings in CAE by 17.1% in the 1st quarter. Clearbridge Investments LLC now owns 3,710,044 shares of the aerospace company’s stock valued at $76,575,000 after purchasing an additional 541,066 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its position in CAE by 14.5% during the 4th quarter. Public Sector Pension Investment Board now owns 3,932,914 shares of the aerospace company’s stock worth $85,304,000 after purchasing an additional 496,640 shares during the period. 67.36% of the stock is currently owned by hedge funds and other institutional investors.

CAE Stock Performance

NYSE:CAE opened at $17.68 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $5.64 billion, a P/E ratio of -24.55, a price-to-earnings-growth ratio of 1.30 and a beta of 1.67. The firm has a 50-day moving average price of $17.98 and a two-hundred day moving average price of $18.93. CAE Inc. has a twelve month low of $15.95 and a twelve month high of $25.04.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Canaccord Genuity Group reissued a “hold” rating on shares of CAE in a report on Wednesday, May 22nd. Canaccord Genuity Group lowered shares of CAE from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. StockNews.com downgraded shares of CAE from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Royal Bank of Canada upgraded shares of CAE from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley lowered shares of CAE from an “overweight” rating to an “equal weight” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, CAE currently has a consensus rating of “Hold” and an average target price of $28.00.

CAE Profile

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.