CAE Inc $CAE Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its holdings in shares of CAE Inc (NYSE:CAE) (TSE:CAE) by 78.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,373 shares of the aerospace company’s stock after selling 52,899 shares during the quarter. Truist Financial Corp’s holdings in CAE were worth $426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Employees Retirement System of Texas purchased a new stake in CAE in the second quarter valued at about $80,000. Bessemer Group Inc. increased its holdings in shares of CAE by 360.9% during the second quarter. Bessemer Group Inc. now owns 4,402 shares of the aerospace company’s stock valued at $129,000 after acquiring an additional 3,447 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new position in shares of CAE in the 2nd quarter valued at approximately $236,000. PNC Financial Services Group Inc. raised its position in shares of CAE by 11.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,510 shares of the aerospace company’s stock valued at $249,000 after purchasing an additional 851 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in CAE in the 2nd quarter worth approximately $265,000. 67.36% of the stock is owned by institutional investors and hedge funds.

CAE Stock Down 0.8%

NYSE:CAE opened at $31.31 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.83 and a quick ratio of 0.59. The company’s fifty day moving average price is $31.37 and its 200-day moving average price is $28.88. CAE Inc has a 1-year low of $20.36 and a 1-year high of $34.24. The firm has a market capitalization of $10.08 billion, a P/E ratio of 32.28, a PEG ratio of 2.38 and a beta of 1.11.

CAE (NYSE:CAE) (TSE:CAE) last posted its quarterly earnings results on Tuesday, November 11th. The aerospace company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. The company had revenue of $897.99 million for the quarter, compared to analyst estimates of $1.13 billion. CAE had a net margin of 8.98% and a return on equity of 7.60%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 earnings per share. As a group, equities research analysts anticipate that CAE Inc will post 0.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CAE. Weiss Ratings upgraded shares of CAE from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 3rd. Scotiabank reissued an “outperform” rating on shares of CAE in a report on Wednesday, January 21st. Zacks Research raised CAE from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Royal Bank Of Canada reduced their target price on CAE from $41.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, November 13th. Finally, TD Securities reiterated a “buy” rating on shares of CAE in a research note on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.33.

CAE Profile

CAE Inc is a global leader in training and simulation technologies, headquartered in Montréal, Canada. The company specializes in the design and manufacture of high-fidelity flight simulators and training systems for civil aviation, defense and security, and healthcare markets. Leveraging advanced software and hardware integration, CAE delivers comprehensive training solutions that address pilot proficiency, mission readiness and patient safety across a wide range of platforms.

In civil aviation, CAE partners with major airlines, aircraft manufacturers and flight schools to provide pilot training services, courseware development and crew scheduling solutions.