Truist Financial Corp Has $1.57 Million Stock Position in CAE Inc. (NYSE:CAE)

Truist Financial Corp increased its holdings in shares of CAE Inc. (NYSE:CAE) (TSE:CAE) by 10.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,490 shares of the aerospace company’s stock after buying an additional 7,935 shares during the quarter. Truist Financial Corp’s holdings in CAE were worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CAE. Brandes Investment Partners LP grew its stake in CAE by 103.8% in the second quarter. Brandes Investment Partners LP now owns 11,071,485 shares of the aerospace company’s stock valued at $206,027,000 after purchasing an additional 5,640,269 shares in the last quarter. Earnest Partners LLC acquired a new position in shares of CAE in the second quarter valued at $82,597,000. National Bank of Canada FI increased its holdings in CAE by 36.4% in the 2nd quarter. National Bank of Canada FI now owns 5,498,732 shares of the aerospace company’s stock valued at $101,559,000 after buying an additional 1,466,880 shares during the period. American Century Companies Inc. increased its stake in CAE by 67.9% in the second quarter. American Century Companies Inc. now owns 1,624,656 shares of the aerospace company’s stock valued at $30,176,000 after acquiring an additional 657,227 shares during the period. Finally, Clearbridge Investments LLC grew its stake in shares of 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 during the period. Hedge funds and other institutional investors own 67.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CAE shares. Morgan Stanley lowered shares of 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 research report on Thursday, August 15th. Finally, StockNews.com cut shares of CAE from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $28.00.

CAE Trading Up 1.5 %

NYSE:CAE opened at $18.44 on Friday. The business has a 50 day moving average price of $17.80 and a two-hundred day moving average price of $18.68. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.67. The company has a market cap of $5.88 billion, a P/E ratio of -25.60, a price-to-earnings-growth ratio of 1.33 and a beta of 1.67. CAE Inc. has a twelve month low of $15.95 and a twelve month high of $23.39.

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

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.