Mackenzie Financial Corp Sells 1,589,747 Shares of CAE Inc $CAE

Mackenzie Financial Corp trimmed its position in shares of CAE Inc (NYSE:CAE) (TSE:CAE) by 9.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,452,999 shares of the aerospace company’s stock after selling 1,589,747 shares during the period. Mackenzie Financial Corp’s holdings in CAE were worth $423,851,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC increased its stake in CAE by 382.5% in the second quarter. Neuberger Berman Group LLC now owns 51,521 shares of the aerospace company’s stock valued at $1,507,000 after acquiring an additional 40,842 shares during the last quarter. Norges Bank bought a new position in shares of CAE during the 2nd quarter valued at about $118,239,000. Korea Investment CORP raised its holdings in shares of CAE by 115.3% during the 2nd quarter. Korea Investment CORP now owns 420,391 shares of the aerospace company’s stock valued at $12,296,000 after buying an additional 225,142 shares in the last quarter. Employees Retirement System of Texas bought a new stake in CAE in the 2nd quarter worth approximately $80,000. Finally, Russell Investments Group Ltd. lifted its position in CAE by 0.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 129,445 shares of the aerospace company’s stock worth $3,770,000 after buying an additional 522 shares during the last quarter. 67.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on CAE shares. Zacks Research downgraded shares of CAE from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 19th. Scotiabank reaffirmed an “outperform” rating on shares of CAE in a research note on Thursday, August 14th. Weiss Ratings restated a “hold (c+)” rating on shares of CAE in a report on Monday. Wall Street Zen cut CAE from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, Royal Bank Of Canada decreased their target price on shares of CAE from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.33.

CAE Price Performance

CAE opened at $27.49 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 0.87. The stock has a market capitalization of $8.84 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 2.49 and a beta of 1.42. The stock’s 50 day moving average price is $27.65 and its 200-day moving average price is $27.48. CAE Inc has a 52-week low of $20.36 and a 52-week high of $30.13.

CAE (NYSE:CAE) (TSE:CAE) last released its quarterly earnings results on Tuesday, November 11th. The aerospace company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. CAE had a net margin of 8.70% and a return on equity of 7.92%. The business had revenue of $897.99 million for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts predict that CAE Inc will post 0.83 EPS for the current year.

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.