Bank of America Corp DE Takes Position in CAE Inc $CAE

Bank of America Corp DE bought a new stake in CAE Inc (NYSE:CAE - Free Report) TSE: CAE during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,636,030 shares of the aerospace company's stock, valued at approximately $40,999,000. Bank of America Corp DE owned 0.51% of CAE as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of CAE. Caisse de depot et placement du Quebec acquired a new position in CAE in the 2nd quarter valued at $773,834,000. Jupiter Topco LLC acquired a new position in CAE in the second quarter valued at about $162,919,000. Norges Bank bought a new stake in CAE during the fourth quarter worth about $98,377,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in CAE during the second quarter worth about $65,215,000. Finally, The Manufacturers Life Insurance Company bought a new position in CAE in the 2nd quarter valued at about $52,968,000. 67.36% of the stock is currently owned by institutional investors and hedge funds.

CAE Stock Performance

CAE opened at $24.54 on Tuesday. CAE Inc has a 1-year low of $22.76 and a 1-year high of $34.24. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 2.85 and a beta of 1.01. The company's fifty day moving average price is $25.18 and its two-hundred day moving average price is $25.84. The company has a current ratio of 0.96, a quick ratio of 0.77 and a debt-to-equity ratio of 0.55.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last announced its earnings results on Wednesday, August 12th. The aerospace company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $826.42 million during the quarter, compared to the consensus estimate of $796.86 million. CAE had a net margin of 6.36% and a return on equity of 7.45%. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 earnings per share. CAE has set its FY 2027 guidance at 0.870-0.920 EPS. On average, analysts expect that CAE Inc will post 0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CAE. Jefferies Financial Group reiterated a "hold" rating on shares of CAE in a research report on Thursday, August 13th. Royal Bank Of Canada lowered their price objective on shares of CAE from $42.00 to $36.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 26th. Wall Street Zen downgraded shares of CAE from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Morgan Stanley lowered shares of CAE from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings lowered CAE from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, CAE presently has a consensus rating of "Hold" and an average target price of $31.00.

CAE Company Profile

CAE Inc is a Canadian technology company that develops simulation, training and mission-support solutions for the aviation and defense markets. Founded in 1947 and headquartered in Montréal, Québec, the company serves commercial airlines, business aviation operators, aircraft manufacturers, defense forces and government agencies worldwide.

In civil aviation, CAE provides flight simulators, pilot-training systems, aviation training services and digital tools designed to support pilot recruitment, instruction, certification and recurrent training.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.