Connor Clark & Lunn Investment Management Ltd. Buys Shares of 462,200 CAE Inc (NYSE:CAE)

Key Points

• Connor Clark & Lunn Investment Management Ltd. purchased a new stake in CAE Inc, acquiring 462,200 shares valued at approximately $11.36 million, bringing their ownership to about 0.14% of the company.
• Several institutional investors significantly increased their stakes in CAE during the fourth quarter, with notable additions from Nomura Holdings Inc. and Caisse DE Depot ET Placement DU Quebec, the latter reaching ownership of approximately $784.65 million.
• CAE reported earnings of $0.33 per share for the last quarter, surpassing estimates slightly, while revenue was down 13.2% year-over-year compared to expectations of $1.30 billion.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of CAE Inc (NYSE:CAE - Free Report) TSE: CAE during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 462,200 shares of the aerospace company's stock, valued at approximately $11,365,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.14% of CAE at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. LPL Financial LLC increased its position in CAE by 32.4% during the fourth quarter. LPL Financial LLC now owns 45,236 shares of the aerospace company's stock worth $1,148,000 after buying an additional 11,061 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of CAE by 31.2% during the 4th quarter. Geode Capital Management LLC now owns 1,779,962 shares of the aerospace company's stock worth $44,941,000 after acquiring an additional 423,780 shares during the period. Wells Fargo & Company MN increased its holdings in shares of CAE by 0.3% during the 4th quarter. Wells Fargo & Company MN now owns 421,242 shares of the aerospace company's stock worth $10,682,000 after acquiring an additional 1,224 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in CAE by 2.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 246,903 shares of the aerospace company's stock valued at $6,266,000 after acquiring an additional 5,188 shares during the period. Finally, Invesco Ltd. lifted its holdings in CAE by 4.3% during the 4th quarter. Invesco Ltd. now owns 3,673,331 shares of the aerospace company's stock valued at $93,229,000 after purchasing an additional 150,484 shares during the last quarter. 67.36% of the stock is owned by institutional investors.

CAE Price Performance

Shares of CAE traded down $1.58 during trading hours on Wednesday, hitting $27.96. 2,921,410 shares of the company were exchanged, compared to its average volume of 592,498. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 30.39, a P/E/G ratio of 2.42 and a beta of 1.34. The firm's fifty day moving average is $28.27 and its 200 day moving average is $25.79. CAE Inc has a fifty-two week low of $16.60 and a fifty-two week high of $30.13. The company has a quick ratio of 0.58, a current ratio of 0.80 and a debt-to-equity ratio of 0.62.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last posted its quarterly earnings results on Tuesday, August 12th. The aerospace company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. CAE had a net margin of 8.70% and a return on equity of 8.03%. The business had revenue of $806.92 million for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business posted $0.21 EPS. On average, equities analysts anticipate that CAE Inc will post 0.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reissued a "hold" rating and issued a $30.00 price objective on shares of CAE in a research report on Monday, July 21st. The Goldman Sachs Group started coverage on shares of CAE in a research note on Monday, June 30th. They issued a "buy" rating and a $33.00 price target on the stock. TD Securities upgraded shares of CAE from a "hold" rating to a "buy" rating in a research report on Wednesday. Scotiabank raised CAE from a "sector perform" rating to a "sector outperform" rating in a research report on Thursday, May 15th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of CAE in a research note on Wednesday, May 14th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.67.

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, 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.