Granahan Investment Management Inc. MA Reduces Stake in CAE Inc (CAE)
Granahan Investment Management Inc. MA cut its position in shares of CAE Inc (NYSE:CAE) (TSE:CAE) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,475 shares of the aerospace company’s stock after selling 450 shares during the period. Granahan Investment Management Inc. MA’s holdings in CAE were worth $252,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware bought a new position in shares of CAE during the first quarter worth $138,000. Trexquant Investment LP bought a new position in shares of CAE during the first quarter worth $173,000. Wetherby Asset Management Inc. acquired a new stake in shares of CAE during the first quarter worth approximately $207,000. Comerica Bank raised its stake in shares of CAE by 12.0% in the fourth quarter. Comerica Bank now owns 15,196 shares of the aerospace company’s stock worth $217,000 after buying an additional 1,630 shares in the last quarter. Finally, World Asset Management Inc raised its stake in shares of CAE by 0.3% in the first quarter. World Asset Management Inc now owns 16,679 shares of the aerospace company’s stock worth $255,000 after buying an additional 49 shares in the last quarter. 57.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CAE Inc (CAE) opened at 16.82 on Monday. CAE Inc has a 52 week low of $11.85 and a 52 week high of $16.95. The firm’s 50-day moving average is $16.10 and its 200-day moving average is $15.05. The firm has a market capitalization of $4.51 billion, a P/E ratio of 23.96 and a beta of 0.85.
CAE (NYSE:CAE) (TSE:CAE) last issued its quarterly earnings data on Wednesday, May 31st. The aerospace company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. CAE had a return on equity of 13.96% and a net margin of 9.30%. The company had revenue of $734.70 million during the quarter, compared to analyst estimates of $748.41 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. CAE’s revenue was up 1.7% on a year-over-year basis. Equities analysts anticipate that CAE Inc will post $0.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.059 per share. This is a positive change from CAE’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, June 13th. This represents a $0.24 annualized dividend and a dividend yield of 1.41%. CAE’s payout ratio is presently 33.80%.
A number of brokerages have recently commented on CAE. Zacks Investment Research lowered shares of CAE from a “buy” rating to a “sell” rating in a research report on Friday, May 12th. TD Securities lowered shares of CAE from a “buy” rating to a “hold” rating in a research report on Thursday, June 1st. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $19.00.
CAE Inc provides training for the civil aviation, defense and security, and healthcare markets. The Company designs and integrates training solutions. It operates through three segments: Civil Aviation Training Solutions, Defense and Security, and Healthcare. The Company provides training solutions for flight, cabin, maintenance and ground personnel in commercial, business and helicopter aviation, a range of flight simulation training devices, as well as ab initio pilot training and crew sourcing services.
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