Summerhill Capital Management lnc. Cuts Stock Position in CAE Inc. (NYSE:CAE)

Summerhill Capital Management lnc. trimmed its position in shares of CAE Inc. (NYSE:CAE) (TSE:CAE) by 5.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,729 shares of the aerospace company’s stock after selling 11,037 shares during the quarter. CAE accounts for approximately 2.5% of Summerhill Capital Management lnc.’s investment portfolio, making the stock its 19th biggest position. Summerhill Capital Management lnc. owned 0.06% of CAE worth $3,485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JARISLOWSKY FRASER Ltd lifted its holdings in CAE by 28.5% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 17,334,635 shares of the aerospace company’s stock worth $375,982,000 after buying an additional 3,843,611 shares in the last quarter. Norges Bank acquired a new stake in CAE during the 4th quarter worth approximately $74,413,000. National Bank of Canada FI raised its holdings in shares of 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 purchasing an additional 1,466,880 shares in the last quarter. American Century Companies Inc. raised its stake in CAE by 67.9% during the 2nd quarter. American Century Companies Inc. now owns 1,624,656 shares of the aerospace company’s stock worth $30,176,000 after acquiring an additional 657,227 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in CAE by 17.1% during the 1st quarter. Clearbridge Investments LLC now owns 3,710,044 shares of the aerospace company’s stock worth $76,575,000 after acquiring an additional 541,066 shares in the last quarter. 67.36% of the stock is currently owned by hedge funds and other institutional investors.

CAE Stock Performance

Shares of CAE opened at $17.80 on Monday. 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 stock has a market cap of $5.68 billion, a P/E ratio of -24.72, a PEG ratio of 1.31 and a beta of 1.67. The company has a 50-day moving average of $17.83 and a two-hundred day moving average of $18.87. CAE Inc. has a 12-month low of $15.95 and a 12-month high of $25.04.

CAE (NYSE:CAE) (TSE:CAE) last announced its earnings results on Tuesday, August 13th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The company 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 firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. As a group, research analysts predict that CAE Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of CAE in a research note on Thursday, June 6th. They set a “hold” rating and a $21.00 price target on the stock. Canaccord Genuity Group reiterated a “hold” rating on shares of CAE in a research note on Wednesday, May 22nd. Desjardins downgraded shares of CAE from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. StockNews.com raised shares of CAE from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada raised shares of CAE from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 15th. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $28.00.

About CAE

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.