CAE Inc (CAE) Stake Cut by Credit Suisse AG

Credit Suisse AG lowered its stake in shares of CAE Inc (NYSE:CAE) (TSE:CAE) by 16.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 313,275 shares of the aerospace company’s stock after selling 63,231 shares during the period. Credit Suisse AG owned approximately 0.12% of CAE worth $4,790,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Legato Capital Management LLC raised its position in CAE by 1,423.6% in the first quarter. Legato Capital Management LLC now owns 7,675,571 shares of the aerospace company’s stock worth $503,766,000 after buying an additional 7,171,805 shares during the last quarter. Norges Bank bought a new position in CAE during the fourth quarter worth approximately $35,196,000. Mackenzie Financial Corp raised its position in CAE by 17.7% in the first quarter. Mackenzie Financial Corp now owns 7,332,489 shares of the aerospace company’s stock worth $112,114,000 after buying an additional 1,105,110 shares during the last quarter. Renaissance Technologies LLC raised its position in CAE by 47.8% in the first quarter. Renaissance Technologies LLC now owns 1,777,500 shares of the aerospace company’s stock worth $27,180,000 after buying an additional 574,900 shares during the last quarter. Finally, AGF Investments Inc. raised its position in CAE by 148.9% in the first quarter. AGF Investments Inc. now owns 936,317 shares of the aerospace company’s stock worth $14,290,000 after buying an additional 560,123 shares during the last quarter. 56.12% of the stock is owned by institutional investors and hedge funds.

CAE Inc (NYSE CAE) traded down 1.15% during midday trading on Friday, reaching $16.32. The company had a trading volume of 165,433 shares. CAE Inc has a 52 week low of $13.57 and a 52 week high of $17.88. The firm has a 50-day moving average price of $17.13 and a 200-day moving average price of $15.90. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 22.57 and a beta of 0.86.

CAE (NYSE:CAE) (TSE:CAE) last issued its earnings results on Thursday, August 10th. The aerospace company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by $0.01. The firm had revenue of $699 million during the quarter, compared to the consensus estimate of $699.76 million. CAE had a return on equity of 13.24% and a net margin of 8.96%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 EPS. Analysts expect that CAE Inc will post $0.85 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.071 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.28 annualized dividend and a yield of 1.74%. This is an increase from CAE’s previous quarterly dividend of $0.06. CAE’s dividend payout ratio is currently 34.29%.

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A number of research firms have recently commented on CAE. BidaskClub lowered CAE from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research raised CAE from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Tuesday, August 1st. Finally, TD Securities lowered CAE from a “buy” rating to a “hold” rating in a report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. CAE presently has an average rating of “Hold” and an average price target of $19.50.

About CAE

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.

Institutional Ownership by Quarter for CAE (NYSE:CAE)

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