Royal Bank of Canada Sells 1,644,941 Shares of CAE Inc. (NYSE:CAE)

Royal Bank of Canada lowered its stake in CAE Inc. (NYSE:CAE - Free Report) TSE: CAE by 17.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,640,390 shares of the aerospace company's stock after selling 1,644,941 shares during the period. Royal Bank of Canada owned 2.39% of CAE worth $193,913,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CAE. JPMorgan Chase & Co. raised its stake in shares of CAE by 3.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,172,533 shares of the aerospace company's stock worth $29,759,000 after purchasing an additional 42,325 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in CAE in the fourth quarter worth approximately $4,746,000. Norges Bank purchased a new stake in CAE during the 4th quarter valued at $98,436,000. Plato Investment Management Ltd bought a new position in shares of CAE during the 4th quarter valued at $846,000. Finally, Intact Investment Management Inc. purchased a new position in shares of CAE in the 4th quarter worth $13,763,000. 67.36% of the stock is owned by institutional investors.

CAE Price Performance

CAE stock traded down $1.19 during mid-day trading on Wednesday, hitting $24.73. The stock had a trading volume of 882,139 shares, compared to its average volume of 573,145. CAE Inc. has a one year low of $15.95 and a one year high of $27.62. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $7.92 billion, a P/E ratio of -47.55, a P/E/G ratio of 1.94 and a beta of 1.26. The firm's 50 day moving average is $24.30 and its 200 day moving average is $23.84.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last released its quarterly earnings data on Tuesday, May 13th. The aerospace company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The firm had revenue of $886.20 million during the quarter, compared to analyst estimates of $1.30 billion. CAE had a positive return on equity of 6.11% and a negative net margin of 4.96%. The business's quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 earnings per share. On average, sell-side analysts forecast that CAE Inc. will post 0.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CAE. BMO Capital Markets reiterated an "outperform" rating on shares of CAE in a research report on Wednesday, May 14th. Bank of America raised shares of CAE from an "underperform" rating to a "neutral" rating in a report on Friday, March 7th. StockNews.com upgraded shares of CAE from a "buy" rating to a "strong-buy" rating in a research report on Monday. Jefferies Financial Group reduced their price objective on CAE from $28.00 to $27.00 and set a "hold" rating for the company in a research note on Friday, May 16th. Finally, Royal Bank of Canada lowered CAE from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $41.00 to $38.00 in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $32.33.

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.