Beutel Goodman & Co Ltd. Sells 665,378 Shares of CAE Inc $CAE

Key Points

• Beutel Goodman cut its CAE stake by 12.3%, selling 665,378 shares in the third quarter; it still held 4.75 million shares, worth about $114.6 million.
• Analyst views were mixed, but the consensus rating was “Moderate Buy”, with an average price target of $33.33; seven analysts rated the stock Buy, three Hold, and one Sell.
• CAE’s latest reported quarter beat estimates, with EPS of $0.19 versus $0.17 expected and revenue of $826.4 million versus $796.9 million expected. Revenue rose 6.8% year over year.

Beutel Goodman & Co Ltd. reduced its position in CAE Inc (NYSE:CAE - Free Report) TSE: CAE by 12.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,752,216 shares of the aerospace company's stock after selling 665,378 shares during the period. Beutel Goodman & Co Ltd. owned about 1.49% of CAE worth $114,575,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in CAE by 218.2% in the third quarter. Farther Finance Advisors LLC now owns 1,435 shares of the aerospace company's stock valued at $34,000 after purchasing an additional 984 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of CAE in the second quarter valued at $36,000. Tacita Capital Inc purchased a new position in shares of CAE in the second quarter valued at $37,000. Parallel Advisors LLC raised its stake in shares of CAE by 46.6% during the 1st quarter. Parallel Advisors LLC now owns 2,509 shares of the aerospace company's stock worth $65,000 after buying an additional 797 shares during the last quarter. Finally, Transamerica Financial Advisors LLC acquired a new position in shares of CAE during the 2nd quarter worth $81,000. 67.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CAE shares. Morgan Stanley cut shares of CAE from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, July 15th. Jefferies Financial Group dropped their target price on shares of CAE from $28.00 to $26.00 and set a "hold" rating for the company in a report on Tuesday, October 13th. Scotiabank restated an "outperform" rating on shares of CAE in a research report on Tuesday, October 27th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of CAE in a report on Wednesday, October 28th. Finally, Barclays assumed coverage on shares of CAE in a research report on Friday, October 9th. They issued an "overweight" rating and a $38.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $33.33.

CAE Stock Up 2.5%

CAE opened at $27.53 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.96 and a debt-to-equity ratio of 0.55. The firm has a market cap of $8.80 billion, a P/E ratio of 38.78, a PEG ratio of 2.85 and a beta of 1.06. CAE Inc has a 52 week low of $22.76 and a 52 week high of $34.24. The business's fifty day simple moving average is $24.60 and its 200 day simple moving average is $26.43.

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

About CAE

CAE Inc is a Canadian technology company that develops simulation and training solutions for the civil aviation and defense markets. Founded in 1947 and headquartered in Montreal, the company serves customers around the world.

In civil aviation, CAE provides flight simulators, training devices, and pilot and crew training services to airlines, business aviation operators, aircraft manufacturers, and other aviation organizations. Its offerings support training across a range of aircraft types and operational needs.

For defense customers, CAE develops simulation and mission-training systems and provides training and operational support to military forces and government agencies.

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