CAE Inc $CAE Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in CAE Inc by 43.4%, now holding 62,480 shares valued at approximately $1.54 million.
• Other institutional investors also altered their positions, with Korea Investment CORP and Cresset Asset Management LLC increasing their stakes by 1.4% and 10.8%, respectively.
• Analysts have mixed opinions on CAE, with a consensus rating of "Moderate Buy" and an average price target of $33.67.

Wellington Management Group LLP lowered its position in CAE Inc (NYSE:CAE - Free Report) TSE: CAE by 43.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 62,480 shares of the aerospace company's stock after selling 47,931 shares during the period. Wellington Management Group LLP's holdings in CAE were worth $1,536,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Nomura Holdings Inc. acquired a new position in CAE during the fourth quarter worth $201,771,000. Browning West LP acquired a new position in shares of CAE during the 4th quarter worth about $150,629,000. Select Equity Group L.P. lifted its stake in CAE by 427.1% in the 4th quarter. Select Equity Group L.P. now owns 6,741,514 shares of the aerospace company's stock valued at $171,093,000 after buying an additional 5,462,455 shares in the last quarter. JARISLOWSKY FRASER Ltd boosted its holdings in CAE by 7.6% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 23,994,091 shares of the aerospace company's stock worth $606,697,000 after buying an additional 1,702,904 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in CAE by 195.3% during the 4th quarter. Bank of America Corp DE now owns 2,350,178 shares of the aerospace company's stock worth $59,648,000 after buying an additional 1,554,266 shares in the last quarter. 67.36% of the stock is currently owned by institutional investors and hedge funds.

CAE Trading Up 0.5%

CAE stock traded up $0.14 during midday trading on Thursday, hitting $26.81. 176,893 shares of the company's stock were exchanged, compared to its average volume of 569,156. CAE Inc has a 1-year low of $17.34 and a 1-year high of $30.13. The company has a current ratio of 0.87, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $8.60 billion, a PE ratio of 29.14, a P/E/G ratio of 2.38 and a beta of 1.36. The business has a 50-day simple moving average of $28.40 and a two-hundred day simple moving average of $26.11.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last released its quarterly earnings results on Tuesday, August 12th. The aerospace company reported $0.15 earnings per share for the quarter, hitting analysts' consensus estimates of $0.15. The business had revenue of $806.92 million during the quarter, compared to analysts' expectations of $1.12 billion. CAE had a return on equity of 7.92% and a net margin of 8.70%.During the same period in the prior year, the business posted $0.21 EPS. On average, sell-side analysts predict that CAE Inc will post 0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

CAE has been the topic of a number of research analyst reports. Cibc World Mkts raised CAE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Scotiabank restated an "outperform" rating on shares of CAE in a report on Thursday, August 14th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of CAE in a report on Monday, July 7th. BMO Capital Markets reiterated an "outperform" rating on shares of CAE in a research report on Wednesday, May 14th. Finally, Jefferies Financial Group restated a "hold" rating and set a $30.00 price target on shares of CAE in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, CAE presently has an average rating of "Moderate Buy" and an average target price of $33.67.

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, the Oceania, Africa, and Rest of the Americas. It operates through two segments, Civil Aviation; and Defense and Security. The Civil Aviation segment offers training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; a range of flight simulation training devices; and ab initio pilot training and crew sourcing services, as well as aircraft flight operations solutions.