Clearbridge Investments LLC Boosts Stake in CAE Inc. (NYSE:CAE)

Clearbridge Investments LLC increased its position in CAE Inc. (NYSE:CAE) (TSE:CAE) by 17.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,710,044 shares of the aerospace company’s stock after purchasing an additional 541,066 shares during the period. Clearbridge Investments LLC owned 1.17% of CAE worth $76,575,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP raised its stake in CAE by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 130,354 shares of the aerospace company’s stock valued at $3,057,000 after acquiring an additional 19,156 shares during the last quarter. Vanguard Group Inc. raised its stake in CAE by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 10,606,797 shares of the aerospace company’s stock valued at $247,669,000 after acquiring an additional 152,778 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in CAE by 1.1% during the 4th quarter. Pinnacle Associates Ltd. now owns 874,588 shares of the aerospace company’s stock valued at $18,882,000 after acquiring an additional 9,768 shares during the last quarter. Addenda Capital Inc. raised its stake in CAE by 0.3% during the 4th quarter. Addenda Capital Inc. now owns 328,565 shares of the aerospace company’s stock valued at $7,094,000 after acquiring an additional 1,041 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in CAE by 2.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 31,621 shares of the aerospace company’s stock valued at $678,000 after acquiring an additional 790 shares during the last quarter. 67.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. The Goldman Sachs Group upped their price objective on CAE from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. StockNews.com cut CAE from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Desjardins cut CAE from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Royal Bank of Canada cut CAE from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Canaccord Genuity Group cut CAE from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $32.00.

CAE Price Performance

Shares of CAE traded down $0.72 on Wednesday, reaching $17.81. The stock had a trading volume of 604,612 shares, compared to its average volume of 588,536. The firm has a market capitalization of $5.68 billion, a PE ratio of -24.97, a PEG ratio of 1.34 and a beta of 1.67. The company has a quick ratio of 0.61, a current ratio of 0.85 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average of $18.89 and a 200 day moving average of $19.56. CAE Inc. has a twelve month low of $17.40 and a twelve month high of $25.04.

CAE (NYSE:CAE) (TSE:CAE) last released its quarterly earnings results on Monday, May 27th. The aerospace company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.16). The firm had revenue of $835.47 million during the quarter, compared to analyst estimates of $863.18 million. CAE had a positive return on equity of 6.10% and a negative net margin of 6.97%. During the same quarter in the prior year, the company earned $0.26 EPS. Sell-side analysts expect that CAE Inc. will post 0.87 EPS for the current 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.