3,881,602 Shares in CAE Inc. (NYSE:CAE) Acquired by Norges Bank

Norges Bank bought a new position in CAE Inc. (NYSE:CAE - Free Report) TSE: CAE in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 3,881,602 shares of the aerospace company's stock, valued at approximately $98,436,000. Norges Bank owned 1.21% of CAE as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Schechter Investment Advisors LLC grew its stake in shares of CAE by 1.5% during the fourth quarter. Schechter Investment Advisors LLC now owns 45,047 shares of the aerospace company's stock valued at $1,143,000 after buying an additional 666 shares during the last quarter. IHT Wealth Management LLC boosted its holdings in CAE by 3.7% during the 3rd quarter. IHT Wealth Management LLC now owns 22,690 shares of the aerospace company's stock valued at $425,000 after acquiring an additional 802 shares during the period. US Bancorp DE increased its stake in CAE by 10.4% in the fourth quarter. US Bancorp DE now owns 8,887 shares of the aerospace company's stock worth $226,000 after purchasing an additional 835 shares during the period. Allworth Financial LP lifted its position in shares of CAE by 14.2% during the fourth quarter. Allworth Financial LP now owns 7,321 shares of the aerospace company's stock worth $177,000 after purchasing an additional 913 shares during the last quarter. Finally, Asset Planning Inc purchased a new stake in shares of CAE during the fourth quarter valued at $30,000. Institutional investors own 67.36% of the company's stock.

Wall Street Analyst Weigh In

CAE has been the topic of several recent analyst reports. StockNews.com downgraded shares of CAE from a "buy" rating to a "hold" rating in a research note on Friday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $43.00 price target on shares of CAE in a research note on Wednesday, March 12th. Desjardins upgraded CAE from a "hold" rating to a "buy" rating in a report on Monday, December 23rd. National Bank Financial downgraded CAE from an "outperform" rating to a "sector perform" rating in a report on Wednesday, January 22nd. Finally, TD Securities downgraded CAE from a "buy" rating to a "hold" rating in a research report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.00.

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CAE Stock Down 8.7 %

CAE stock traded down $2.05 during midday trading on Friday, reaching $21.51. The company's stock had a trading volume of 783,786 shares, compared to its average volume of 575,203. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.63. The stock has a market capitalization of $6.89 billion, a P/E ratio of -41.37, a PEG ratio of 1.94 and a beta of 1.39. The stock's 50-day simple moving average is $24.45 and its 200-day simple moving average is $22.53. CAE Inc. has a 52-week low of $15.95 and a 52-week high of $27.62.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last announced its quarterly earnings data on Thursday, February 13th. The aerospace company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. CAE had a negative net margin of 4.96% and a positive return on equity of 6.11%. On average, sell-side analysts expect that CAE Inc. will post 0.83 EPS for the current year.

About CAE

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.