Mackenzie Financial Corp Trims Holdings in CAE Inc. (NYSE:CAE)

Mackenzie Financial Corp cut its position in shares of CAE Inc. (NYSE:CAE - Free Report) TSE: CAE by 36.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,142,391 shares of the aerospace company's stock after selling 9,233,885 shares during the period. Mackenzie Financial Corp owned 5.05% of CAE worth $409,113,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CAE. Asset Planning Inc purchased a new position in shares of CAE in the fourth quarter worth about $30,000. Natixis purchased a new position in shares of CAE in the fourth quarter worth about $38,000. UniSuper Management Pty Ltd purchased a new position in shares of CAE in the fourth quarter worth about $147,000. Allworth Financial LP lifted its stake in shares of CAE by 14.2% in the fourth quarter. Allworth Financial LP now owns 7,321 shares of the aerospace company's stock worth $177,000 after buying an additional 913 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of CAE in the fourth quarter worth about $213,000. Institutional investors and hedge funds own 67.36% of the company's stock.

CAE Stock Up 0.5%

Shares of CAE stock traded up $0.13 during trading on Tuesday, reaching $25.16. The company's stock had a trading volume of 549,343 shares, compared to its average volume of 562,948. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.63. The company has a market capitalization of $8.06 billion, a price-to-earnings ratio of -48.38, a P/E/G ratio of 1.94 and a beta of 1.26. The stock's 50-day moving average price is $24.36 and its 200 day moving average price is $24.06. CAE Inc. has a 1-year low of $15.95 and a 1-year high of $27.62.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last issued its quarterly earnings results on Tuesday, May 13th. The aerospace company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. CAE had a negative net margin of 4.96% and a positive return on equity of 6.11%. The company had revenue of $886.20 million during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The firm's quarterly revenue was up 13.2% on a year-over-year basis. On average, research analysts anticipate that CAE Inc. will post 0.83 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CAE shares. Bank of America raised shares of CAE from an "underperform" rating to a "neutral" rating in a research note on Friday, March 7th. Scotiabank raised shares of CAE from a "sector perform" rating to a "sector outperform" rating in a research note on Thursday, May 15th. The Goldman Sachs Group lifted their target price on shares of CAE from $28.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. National Bank Financial upgraded CAE from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, Jefferies Financial Group dropped their price target on shares of CAE from $28.00 to $27.00 and set a "hold" rating for the company in a research report on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CAE presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.33.

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.