Mackenzie Financial Corp Sells 1,004,118 Shares of CAE Inc $CAE

Mackenzie Financial Corp trimmed its position in shares of CAE Inc (NYSE:CAE) (TSE:CAE) by 6.9% during the 3rd quarter, Holdings Channel reports. The fund owned 13,448,881 shares of the aerospace company’s stock after selling 1,004,118 shares during the period. Mackenzie Financial Corp’s holdings in CAE were worth $398,153,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAE. Employees Retirement System of Texas purchased a new position in shares of CAE in the second quarter valued at $80,000. Bessemer Group Inc. grew its stake in shares of CAE by 26.0% in the 3rd quarter. Bessemer Group Inc. now owns 5,547 shares of the aerospace company’s stock worth $164,000 after buying an additional 1,145 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new position in shares of CAE in the 2nd quarter worth $236,000. PNC Financial Services Group Inc. increased its holdings 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 worth $249,000 after buying an additional 851 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of CAE during the 2nd quarter valued at about $265,000. 67.36% of the stock is currently owned by institutional investors.

CAE Price Performance

CAE stock opened at $28.51 on Wednesday. CAE Inc has a 12 month low of $20.36 and a 12 month high of $34.24. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $31.38 and a 200 day moving average price of $29.09. The stock has a market cap of $9.17 billion, a PE ratio of 34.35, a P/E/G ratio of 3.43 and a beta of 1.11.

CAE (NYSE:CAE) (TSE:CAE) last posted its quarterly earnings data on Thursday, February 12th. The aerospace company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $911.78 million for the quarter, compared to analyst estimates of $922.62 million. CAE had a net margin of 7.70% and a return on equity of 7.75%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 EPS. Equities research analysts anticipate that CAE Inc will post 0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CAE shares. Royal Bank Of Canada lowered their price target on shares of CAE from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, November 13th. TD Securities reissued a “buy” rating on shares of CAE in a research note on Tuesday, February 17th. Jefferies Financial Group reaffirmed a “hold” rating on shares of CAE in a research note on Sunday, February 15th. Zacks Research upgraded CAE from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Scotiabank reissued an “outperform” rating on shares of CAE in a research report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, CAE currently has a consensus rating of “Moderate Buy” and an average target price of $34.33.

CAE Company 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.