CAE Inc. (NYSE:CAE) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its holdings in CAE Inc. (NYSE:CAE) (TSE:CAE) by 10.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 27,707,907 shares of the aerospace company’s stock after selling 3,178,339 shares during the quarter. Mackenzie Financial Corp owned about 0.09% of CAE worth $514,700,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Earnest Partners LLC acquired a new position in CAE in the 2nd quarter valued at $82,597,000. APG Asset Management N.V. raised its holdings in CAE by 279.2% during the second quarter. APG Asset Management N.V. now owns 45,422 shares of the aerospace company’s stock worth $787,000 after purchasing an additional 33,443 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of CAE by 186.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 44,426 shares of the aerospace company’s stock valued at $825,000 after buying an additional 28,934 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in CAE by 9.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,033,296 shares of the aerospace company’s stock valued at $19,188,000 after acquiring an additional 89,800 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of CAE in the second quarter valued at about $275,000. 67.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CAE. Royal Bank of Canada raised CAE from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 15th. Morgan Stanley lowered CAE from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 16th. StockNews.com raised shares of CAE from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Jefferies Financial Group started coverage on shares of CAE in a research report on Thursday, June 6th. They set a “hold” rating and a $21.00 target price for the company. One investment 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.00.

CAE Stock Performance

CAE stock opened at $18.50 on Friday. The firm has a 50 day simple moving average of $17.67 and a 200 day simple moving average of $18.80. CAE Inc. has a 52 week low of $15.95 and a 52 week high of $23.62. The stock has a market cap of $5.90 billion, a P/E ratio of -25.69, a P/E/G ratio of 1.31 and a beta of 1.67. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.61 and a current ratio of 0.89.

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, beating analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. CAE had a positive return on equity of 5.96% and a negative net margin of 7.38%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. Research analysts anticipate that CAE Inc. will post 0.86 earnings per share for the current fiscal year.

CAE Company 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.