Federation des caisses Desjardins du Quebec Sells 74,618 Shares of CAE Inc $CAE

Key Points

• Federation des caisses Desjardins du Quebec reduced its stake in CAE Inc by 7.7%, selling 74,618 shares and retaining ownership of 897,774 shares worth approximately $22 million.
• A number of institutional investors have adjusted their positions in CAE, with notable increases from Cetera Investment Advisers by 49.7% and Sequoia Financial Advisors by 132.4% during the first quarter.
• Analysts have rated CAE with a consensus of "Moderate Buy" and set an average target price of $33.67, reflecting a mix of ratings from "Strong Buy" to "Hold."

Federation des caisses Desjardins du Quebec lowered its position in CAE Inc (NYSE:CAE - Free Report) TSE: CAE by 7.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 897,774 shares of the aerospace company's stock after selling 74,618 shares during the period. Federation des caisses Desjardins du Quebec owned 0.28% of CAE worth $22,033,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Investment Advisers grew its position in shares of CAE by 4.6% during the fourth quarter. Cetera Investment Advisers now owns 11,386 shares of the aerospace company's stock worth $289,000 after buying an additional 497 shares in the last quarter. Dynasty Wealth Management LLC grew its holdings in CAE by 6.5% during the first quarter. Dynasty Wealth Management LLC now owns 18,002 shares of the aerospace company's stock worth $443,000 after acquiring an additional 1,099 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in CAE by 2.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,359 shares of the aerospace company's stock valued at $1,803,000 after purchasing an additional 2,062 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of CAE in the first quarter valued at $53,000. Finally, APG Asset Management N.V. lifted its position in CAE by 1.4% during the first quarter. APG Asset Management N.V. now owns 172,200 shares of the aerospace company's stock worth $3,919,000 after buying an additional 2,300 shares during the period. 67.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CAE. Jefferies Financial Group reiterated a "hold" rating and issued a $30.00 target price on shares of CAE in a research note on Monday, July 21st. The Goldman Sachs Group began coverage on CAE in a research report on Monday, June 30th. They set a "buy" rating and a $33.00 price target on the stock. CIBC reaffirmed a "neutral" rating on shares of CAE in a research report on Thursday, May 15th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of CAE in a research note on Monday, July 7th. Finally, Wall Street Zen downgraded CAE from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CAE currently has an average rating of "Moderate Buy" and an average target price of $33.67.

CAE Trading Down 0.2%

CAE stock traded down $0.05 during trading hours on Friday, reaching $26.60. 548,890 shares of the company's stock were exchanged, compared to its average volume of 685,800. The firm's 50 day simple moving average is $28.36 and its 200 day simple moving average is $26.11. The firm has a market capitalization of $8.53 billion, a PE ratio of 28.92, a PEG ratio of 2.36 and a beta of 1.36. The company has a quick ratio of 0.60, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. CAE Inc has a twelve month low of $17.34 and a twelve month high of $30.13.

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

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.