Canada Pension Plan Investment Board Acquires 89,800 Shares of CAE Inc. (NYSE:CAE)

Canada Pension Plan Investment Board boosted its holdings in CAE Inc. (NYSE:CAE) (TSE:CAE) by 9.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,033,296 shares of the aerospace company’s stock after purchasing an additional 89,800 shares during the period. Canada Pension Plan Investment Board’s holdings in CAE were worth $19,188,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. XTX Topco Ltd purchased a new stake in CAE in the second quarter worth $275,000. JARISLOWSKY FRASER Ltd lifted its holdings in CAE by 1.3% in the second quarter. JARISLOWSKY FRASER Ltd now owns 22,249,466 shares of the aerospace company’s stock worth $413,168,000 after buying an additional 284,768 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in CAE during the 2nd quarter valued at approximately $230,000. Dimensional Fund Advisors LP grew its holdings in shares of CAE by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 922,622 shares of the aerospace company’s stock worth $17,145,000 after acquiring an additional 114,229 shares during the period. Finally, Rathbones Group PLC grew its holdings in shares of CAE by 6.1% during the 2nd quarter. Rathbones Group PLC now owns 52,500 shares of the aerospace company’s stock worth $975,000 after acquiring an additional 3,000 shares during the period. 67.36% of the stock is owned by institutional investors.

CAE Stock Performance

CAE stock opened at $17.84 on Monday. The stock’s 50 day simple moving average is $17.73 and its 200 day simple moving average is $18.83. The stock has a market capitalization of $5.69 billion, a PE ratio of -24.78, a price-to-earnings-growth ratio of 1.31 and a beta of 1.67. 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 Inc. has a 12-month low of $15.95 and a 12-month high of $24.22.

CAE (NYSE:CAE) (TSE:CAE) last issued its quarterly earnings results on Tuesday, August 13th. The aerospace company reported $0.21 EPS 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 positive return on equity of 5.96% and a negative net margin of 7.38%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 earnings per share. As a group, research analysts forecast that CAE Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CAE shares. StockNews.com upgraded CAE from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Morgan Stanley downgraded CAE from an “overweight” rating to an “equal weight” rating in a report on Friday, August 16th. Royal Bank of Canada upgraded CAE from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group began coverage on CAE in a research report on Thursday, June 6th. They issued a “hold” rating and a $21.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.