CAE Inc. (NYSE:CAE) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lowered its stake in shares of CAE Inc. (NYSE:CAE - Free Report) TSE: CAE by 19.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,246,830 shares of the aerospace company's stock after selling 535,188 shares during the period. Bank of Nova Scotia owned 0.70% of CAE worth $57,042,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Asset Planning Inc purchased a new position in shares of CAE during the 4th quarter worth $30,000. UniSuper Management Pty Ltd acquired a new stake in shares of CAE during the fourth quarter valued at about $147,000. Allworth Financial LP raised its stake in shares of CAE by 14.2% in the 4th quarter. Allworth Financial LP now owns 7,321 shares of the aerospace company's stock valued at $177,000 after acquiring an additional 913 shares during the period. Centiva Capital LP acquired a new position in shares of CAE in the 3rd quarter worth approximately $197,000. Finally, Orion Portfolio Solutions LLC purchased a new position in shares of CAE during the 4th quarter worth approximately $225,000. 67.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CAE. Desjardins upgraded shares of CAE from a "hold" rating to a "buy" rating in a report on Monday, December 23rd. National Bank Financial lowered shares of CAE from an "outperform" rating to a "sector perform" rating in a report on Wednesday, January 22nd. Bank of America upgraded shares of CAE from an "underperform" rating to a "neutral" rating in a research note on Friday, March 7th. The Goldman Sachs Group raised their price target on CAE from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Finally, TD Securities cut CAE from a "buy" rating to a "hold" rating in a research report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $32.00.

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CAE Trading Up 1.7 %

Shares of NYSE CAE traded up $0.39 during midday trading on Monday, reaching $23.11. 70,712 shares of the stock were exchanged, compared to its average volume of 576,799. The stock has a 50 day moving average price of $24.20 and a 200-day moving average price of $22.70. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $7.40 billion, a P/E ratio of -44.44, a P/E/G ratio of 1.94 and a beta of 1.39. 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 issued its quarterly earnings results on Thursday, February 13th. The aerospace company reported $0.21 EPS for the quarter, topping 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%. Equities research analysts expect that CAE Inc. will post 0.83 earnings per share for the current fiscal 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.