CAE Inc $CAE Shares Sold by Royal Bank of Canada

Key Points

• The Royal Bank of Canada has reduced its stock holdings in CAE Inc by 6.7%, now owning approximately 7.13 million shares worth around $175.3 million.
• Several institutional investors have increased their stakes in CAE during the same period, with notable increases from Cetera Investment Advisers (49.7%) and Sequoia Financial Advisors LLC (132.4%).
• CAE recently reported earnings of $0.15 EPS, meeting analysts' expectations, but its revenue of $806.9 million fell short of the consensus estimate of $1.12 billion.

Royal Bank of Canada lowered its stake in shares of CAE Inc (NYSE:CAE - Free Report) TSE: CAE by 6.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,130,727 shares of the aerospace company's stock after selling 509,663 shares during the period. Royal Bank of Canada owned approximately 2.23% of CAE worth $175,344,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new position in shares of CAE during the 1st quarter worth approximately $53,000. State of Wyoming boosted its position in shares of CAE by 39.4% during the 1st quarter. State of Wyoming now owns 8,431 shares of the aerospace company's stock worth $207,000 after purchasing an additional 2,385 shares during the period. First Trust Advisors LP purchased a new position in CAE in the 4th quarter valued at approximately $213,000. Clarius Group LLC purchased a new position in CAE in the 1st quarter valued at approximately $246,000. Finally, Neuberger Berman Group LLC purchased a new position in CAE in the 1st quarter valued at approximately $263,000. Hedge funds and other institutional investors own 67.36% of the company's stock.

CAE Stock Down 0.2%

Shares of CAE traded down $0.05 during midday trading on Friday, reaching $26.60. The stock had a trading volume of 548,890 shares, compared to its average volume of 685,800. CAE Inc has a 1-year low of $17.34 and a 1-year high of $30.13. The company's fifty day simple moving average is $28.36 and its two-hundred day simple moving average is $26.11. The company has a market cap of $8.53 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 2.36 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.60.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last announced its quarterly earnings data on Tuesday, August 12th. The aerospace company reported $0.15 earnings per share for the quarter, meeting analysts' consensus estimates of $0.15. CAE had a net margin of 8.70% and a return on equity of 7.92%. The business had revenue of $806.92 million for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business earned $0.21 EPS. Equities research analysts expect that CAE Inc will post 0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on CAE shares. Cibc World Mkts raised shares of CAE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. CIBC reissued a "neutral" rating on shares of CAE in a research report on Thursday, May 15th. TD Securities raised shares of CAE from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. BMO Capital Markets reissued an "outperform" rating on shares of CAE in a research report on Wednesday, May 14th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $30.00 price target on shares of CAE in a research report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CAE presently has a consensus rating of "Moderate Buy" and a consensus price target 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.